Wall Street Zen cut shares of Mach Natural Resources (NYSE:MNR – Free Report) from a buy rating to a hold rating in a research report released on Saturday,Wall Street Zen reports.
A number of other research firms have also recently commented on MNR. Northland Securities set a $19.00 price target on shares of Mach Natural Resources in a report on Tuesday, October 20th. Zacks Research raised Mach Natural Resources from a “strong sell” rating to a “hold” rating in a report on Monday, October 19th. Weiss Ratings lowered Mach Natural Resources from a “hold (c)” rating to a “hold (c-)” rating in a report on Wednesday, September 16th. Stephens set a $20.00 target price on Mach Natural Resources in a research report on Monday, July 13th. Finally, Stifel Nicolaus assumed coverage on Mach Natural Resources in a research report on Thursday, September 10th. They issued a “buy” rating and a $15.00 target price for the company. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $16.67.
View Our Latest Research Report on Mach Natural Resources
Mach Natural Resources Stock Performance
Shares of MNR stock opened at $9.21 on Friday. The firm has a market cap of $1.54 billion, a price-to-earnings ratio of 5.04 and a beta of -0.23. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.76 and a current ratio of 0.88. Mach Natural Resources has a 52 week low of $8.93 and a 52 week high of $15.02. The firm’s 50-day simple moving average is $10.96 and its two-hundred day simple moving average is $12.59.
Mach Natural Resources (NYSE:MNR – Get Free Report) last released its earnings results on Thursday, November 5th. The company reported $0.34 earnings per share for the quarter, beating analysts’ consensus estimates of $0.33 by $0.01. Mach Natural Resources had a net margin of 7.44% and a return on equity of 16.06%. The firm had revenue of $319.24 million for the quarter, compared to analysts’ expectations of $352.43 million. As a group, equities analysts forecast that Mach Natural Resources will post 1.78 earnings per share for the current year.
Mach Natural Resources Cuts Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 30th. Shareholders of record on Monday, November 16th will be issued a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 9.6%. This is a drop from Mach Natural Resources’s previous quarterly dividend of $0.36. The ex-dividend date of this dividend is Monday, November 16th. Mach Natural Resources’s payout ratio is currently 154.84%.
Insider Transactions at Mach Natural Resources
In other Mach Natural Resources news, insider Tom L. Ward bought 172,413 shares of Mach Natural Resources stock in a transaction dated Monday, September 14th. The stock was purchased at an average price of $11.60 per share, for a total transaction of $1,999,990.80. Following the completion of the purchase, the insider directly owned 13,467,452 shares of the company’s stock, valued at approximately $156,222,443.20. This trade represents a 1.30% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director William McMullen purchased 22,124 shares of the stock in a transaction dated Tuesday, September 15th. The stock was acquired at an average cost of $11.25 per share, for a total transaction of $248,895.00. Following the transaction, the director owned 22,124 shares of the company’s stock, valued at approximately $248,895. This trade represents a ∞ increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have acquired 206,927 shares of company stock valued at $2,388,893 in the last quarter. Company insiders own 87.80% of the company’s stock.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently bought and sold shares of the business. Pin Oak Investment Advisors Inc. bought a new stake in Mach Natural Resources during the 2nd quarter valued at $3,064,000. Avior Wealth Management LLC purchased a new stake in shares of Mach Natural Resources during the second quarter worth $253,000. Royce & Associates LP lifted its position in shares of Mach Natural Resources by 80.7% during the third quarter. Royce & Associates LP now owns 810,784 shares of the company’s stock worth $8,302,000 after acquiring an additional 362,178 shares in the last quarter. Granville Capital Inc. lifted its position in shares of Mach Natural Resources by 144.0% during the third quarter. Granville Capital Inc. now owns 58,188 shares of the company’s stock worth $596,000 after acquiring an additional 34,342 shares in the last quarter. Finally, Arrow Investment Advisors LLC boosted its holdings in shares of Mach Natural Resources by 34.4% in the third quarter. Arrow Investment Advisors LLC now owns 22,486 shares of the company’s stock worth $230,000 after acquiring an additional 5,756 shares during the period. 78.36% of the stock is owned by institutional investors.
Mach Natural Resources Company Profile
Mach Natural Resources LP is an independent oil and natural gas company focused on acquiring, developing and producing energy resources. Its operations include oil, natural gas and natural gas liquids, with activity concentrated in the Anadarko and Arkoma basins in the Mid-Continent region.
The company became publicly traded in 2023. Its chief executive officer is Tom L. Ward, an energy-industry executive and co-founder of Mach Resources.
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