Mach Natural Resources LP (NYSE:MNR) Receives $22.50 Consensus Target Price from Brokerages

Shares of Mach Natural Resources LP (NYSE:MNR) have received an average rating of “Moderate Buy” from the eight ratings firms that are currently covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, one has issued a hold recommendation, four have assigned a buy recommendation and two have issued a strong buy recommendation on the company. The average 1-year price objective among analysts that have covered the stock in the last year is $22.25.

Several analysts have weighed in on MNR shares. Wall Street Zen downgraded shares of Mach Natural Resources from a “buy” rating to a “hold” rating in a research note on Saturday, July 26th. Northland Securities set a $20.00 price objective on shares of Mach Natural Resources in a research report on Monday. William Blair began coverage on Mach Natural Resources in a research report on Monday, August 25th. They issued an “outperform” rating for the company. Zacks Research cut shares of Mach Natural Resources from a “hold” rating to a “strong sell” rating in a report on Monday, October 13th. Finally, Northland Capmk upgraded Mach Natural Resources to a “strong-buy” rating in a report on Monday, October 13th.

Mach Natural Resources Stock Performance

NYSE MNR opened at $11.99 on Monday. The stock has a market capitalization of $2.02 billion, a PE ratio of 6.18 and a beta of -0.11. Mach Natural Resources has a 1 year low of $11.39 and a 1 year high of $19.00. The company’s 50 day simple moving average is $12.74 and its two-hundred day simple moving average is $13.74. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.79 and a quick ratio of 0.69.

Mach Natural Resources (NYSE:MNR) last announced its earnings results on Thursday, November 6th. The company reported $0.44 earnings per share for the quarter, beating analysts’ consensus estimates of $0.34 by $0.10. The business had revenue of $272.56 million for the quarter, compared to the consensus estimate of $243.65 million. Mach Natural Resources had a net margin of 20.83% and a return on equity of 23.23%. Analysts predict that Mach Natural Resources will post 1.95 earnings per share for the current fiscal year.

Mach Natural Resources Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 4th. Stockholders of record on Thursday, November 20th will be issued a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 9.0%. The ex-dividend date of this dividend is Thursday, November 20th. Mach Natural Resources’s dividend payout ratio is presently 112.50%.

Hedge Funds Weigh In On Mach Natural Resources

Hedge funds and other institutional investors have recently modified their holdings of the company. Cooksen Wealth LLC grew its position in Mach Natural Resources by 87.5% during the second quarter. Cooksen Wealth LLC now owns 2,635 shares of the company’s stock valued at $38,000 after buying an additional 1,230 shares during the period. Arrow Investment Advisors LLC raised its position in Mach Natural Resources by 12.9% in the third quarter. Arrow Investment Advisors LLC now owns 12,216 shares of the company’s stock worth $161,000 after acquiring an additional 1,400 shares during the period. CWM LLC purchased a new position in shares of Mach Natural Resources during the 3rd quarter worth $27,000. Janney Montgomery Scott LLC boosted its stake in shares of Mach Natural Resources by 20.4% during the 2nd quarter. Janney Montgomery Scott LLC now owns 14,754 shares of the company’s stock worth $213,000 after acquiring an additional 2,500 shares during the last quarter. Finally, Chung Wu Investment Group LLC bought a new stake in shares of Mach Natural Resources during the 2nd quarter valued at $38,000. 78.36% of the stock is owned by institutional investors.

Mach Natural Resources Company Profile

Mach Natural Resources LP, an independent upstream oil and gas company, focuses on the acquisition, development, and production of oil, natural gas, and natural gas liquids reserves in the Anadarko Basin region of Western Oklahoma, Southern Kansas, and the panhandle of Texas. It also owns a portfolio of midstream assets, as well as owns plants and water infrastructure.