Mach Natural Resources (NYSE:MNR – Get Free Report) was downgraded by stock analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a research report issued on Monday,Zacks.com reports.
Other analysts have also issued research reports about the stock. Truist Financial initiated coverage on shares of Mach Natural Resources in a research report on Tuesday, March 24th. They set a “hold” rating and a $14.00 target price on the stock. Raymond James Financial boosted their price target on Mach Natural Resources from $18.00 to $19.00 and gave the company a “strong-buy” rating in a report on Tuesday. Wall Street Zen lowered Mach Natural Resources from a “buy” rating to a “hold” rating in a research note on Sunday, May 10th. Weiss Ratings cut Mach Natural Resources from a “hold (c)” rating to a “hold (c-)” rating in a report on Monday, May 18th. Finally, Stephens set a $20.00 price objective on Mach Natural Resources in a research report on Monday. Two investment analysts have rated the stock with a Strong Buy rating, two have given a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $18.20.
Mach Natural Resources Trading Up 0.8%
Mach Natural Resources (NYSE:MNR – Get Free Report) last issued its quarterly earnings results on Thursday, May 7th. The company reported $0.74 EPS for the quarter, topping analysts’ consensus estimates of $0.51 by $0.23. The business had revenue of $286.00 million during the quarter, compared to the consensus estimate of $397.61 million. Mach Natural Resources had a net margin of 7.46% and a return on equity of 18.46%. Research analysts forecast that Mach Natural Resources will post 1.64 earnings per share for the current fiscal year.
Institutional Investors Weigh In On Mach Natural Resources
Institutional investors have recently bought and sold shares of the stock. Goldman Sachs Group Inc. increased its position in Mach Natural Resources by 120.5% during the first quarter. Goldman Sachs Group Inc. now owns 3,814,782 shares of the company’s stock worth $59,320,000 after purchasing an additional 2,084,511 shares during the last quarter. ING Groep NV boosted its holdings in shares of Mach Natural Resources by 23.1% in the 4th quarter. ING Groep NV now owns 1,018,000 shares of the company’s stock valued at $11,239,000 after purchasing an additional 191,000 shares during the last quarter. CIBC Bancorp USA Inc. acquired a new position in shares of Mach Natural Resources in the 3rd quarter valued at $7,926,000. First Trust Advisors LP boosted its holdings in shares of Mach Natural Resources by 19.7% in the 4th quarter. First Trust Advisors LP now owns 539,012 shares of the company’s stock valued at $5,951,000 after purchasing an additional 88,590 shares during the last quarter. Finally, Raymond James Financial Inc. grew its stake in shares of Mach Natural Resources by 22.9% during the 3rd quarter. Raymond James Financial Inc. now owns 376,757 shares of the company’s stock valued at $4,966,000 after buying an additional 70,180 shares during the period. 78.36% of the stock is currently owned by hedge funds and other 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. The company was incorporated in 2023 and is headquartered in Oklahoma City, Oklahoma.
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