Shares of Mach Natural Resources LP (NYSE:MNR – Get Free Report) have received a consensus rating of “Moderate Buy” from the nine brokerages that are currently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, three have given a hold recommendation, three have issued a buy recommendation and two have given a strong buy recommendation to the company. The average 1-year target price among brokerages that have covered the stock in the last year is $16.33.
MNR has been the topic of a number of research analyst reports. Citigroup reiterated an “outperform” rating on shares of Mach Natural Resources in a report on Monday, August 10th. Stifel Nicolaus initiated coverage on Mach Natural Resources in a report on Thursday, September 10th. They issued a “buy” rating and a $15.00 price objective on the stock. Northland Securities set a $17.00 price objective on Mach Natural Resources in a research note on Monday, August 10th. Raymond James Financial decreased their target price on Mach Natural Resources from $19.00 to $16.00 and set a “strong-buy” rating for the company in a report on Tuesday, September 29th. Finally, Zacks Research lowered shares of Mach Natural Resources from a “hold” rating to a “strong sell” rating in a report on Monday, September 14th.
Read Our Latest Stock Report on Mach Natural Resources
Insider Activity at Mach Natural Resources
Institutional Investors Weigh In On Mach Natural Resources
Several hedge funds and other institutional investors have recently modified their holdings of MNR. ING Groep NV increased its holdings in Mach Natural Resources by 23.1% in the fourth quarter. ING Groep NV now owns 1,018,000 shares of the company’s stock valued at $11,239,000 after buying an additional 191,000 shares during the last quarter. Pin Oak Investment Advisors Inc. bought a new position in Mach Natural Resources during the 2nd quarter worth $3,064,000. Tidal Investments LLC increased its holdings in shares of Mach Natural Resources by 94.7% in the 2nd quarter. Tidal Investments LLC now owns 41,112 shares of the company’s stock worth $520,000 after acquiring an additional 19,997 shares during the period. Wedbush Securities Inc. increased its stake in shares of Mach Natural Resources by 3.2% in the second quarter. Wedbush Securities Inc. now owns 29,167 shares of the company’s stock valued at $369,000 after purchasing an additional 913 shares during the period. Finally, Avior Wealth Management LLC acquired a new stake in Mach Natural Resources in the 2nd quarter valued at approximately $253,000. Institutional investors own 78.36% of the company’s stock.
Mach Natural Resources Stock Up 2.5%
Shares of NYSE MNR opened at $10.54 on Thursday. The stock has a market capitalization of $1.76 billion, a PE ratio of 17.87 and a beta of -0.22. The company has a quick ratio of 0.76, a current ratio of 0.88 and a debt-to-equity ratio of 0.63. The firm has a fifty day moving average of $12.18 and a 200-day moving average of $12.93. Mach Natural Resources has a 52-week low of $10.15 and a 52-week high of $15.02.
Mach Natural Resources Cuts Dividend
The business also recently announced a quarterly dividend, which was paid on Monday, August 31st. Stockholders of record on Monday, August 17th were paid a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 13.7%. This is a decrease from Mach Natural Resources’s previous quarterly dividend of $0.64. The ex-dividend date was Monday, August 17th. Mach Natural Resources’s payout ratio is 244.07%.
Mach Natural Resources Company Profile
Mach Natural Resources LP is an independent oil and natural gas company engaged in the acquisition, development, and production of oil, natural gas, and natural gas liquids. The company focuses on operated assets in the Anadarko Basin of Western Oklahoma, where it develops conventional and unconventional reserves.
Mach’s operations include drilling, completing, and producing wells, as well as managing related gathering and midstream infrastructure. Its production portfolio is centered on crude oil, natural gas, and natural gas liquids sold into regional and broader U.S.
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