Mach Natural Resources LP (NYSE:MNR) Given Consensus Rating of “Moderate Buy” by Analysts

Shares of Mach Natural Resources LP (NYSE:MNR) have earned an average recommendation of “Moderate Buy” from the eight ratings firms that are covering the company, MarketBeat reports. Two research analysts have rated the stock with a sell rating, four have issued a buy rating and two have assigned a strong buy rating to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $22.25.

Several research analysts have issued reports on the stock. Weiss Ratings reiterated a “sell (d+)” rating on shares of Mach Natural Resources in a report on Monday. KeyCorp started coverage on shares of Mach Natural Resources in a research note on Wednesday, August 27th. They set an “overweight” rating on the stock. Northland Capmk upgraded Mach Natural Resources to a “strong-buy” rating in a report on Monday, October 13th. William Blair began coverage on Mach Natural Resources in a research note on Monday, August 25th. They set an “outperform” rating for the company. Finally, Zacks Research lowered Mach Natural Resources from a “hold” rating to a “strong sell” rating in a research note on Monday, October 13th.

Hedge Funds Weigh In On Mach Natural Resources

A number of large investors have recently made changes to their positions in the business. Kayne Anderson Capital Advisors LP purchased a new stake in shares of Mach Natural Resources during the 3rd quarter valued at $252,892,000. Goldman Sachs Group Inc. increased its position in Mach Natural Resources by 120.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 3,814,782 shares of the company’s stock valued at $59,320,000 after buying an additional 2,084,511 shares in the last quarter. American Century Companies Inc. raised its stake in Mach Natural Resources by 4.1% in the second quarter. American Century Companies Inc. now owns 2,578,929 shares of the company’s stock valued at $37,240,000 after buying an additional 100,574 shares during the last quarter. ING Groep NV boosted its holdings in Mach Natural Resources by 85.4% in the third quarter. ING Groep NV now owns 827,000 shares of the company’s stock worth $10,900,000 after acquiring an additional 381,000 shares in the last quarter. Finally, CIBC Bancorp USA Inc. purchased a new stake in shares of Mach Natural Resources during the third quarter worth about $7,926,000. 78.36% of the stock is owned by institutional investors and hedge funds.

Mach Natural Resources Trading Up 1.0%

MNR opened at $12.43 on Friday. The company has a quick ratio of 0.87, a current ratio of 1.00 and a debt-to-equity ratio of 0.58. The stock’s fifty day moving average is $12.22 and its two-hundred day moving average is $13.53. The company has a market capitalization of $2.09 billion, a P/E ratio of 12.95 and a beta of -0.12. Mach Natural Resources has a 52 week low of $10.93 and a 52 week high of $19.00.

Mach Natural Resources (NYSE:MNR) last posted its quarterly earnings results on Thursday, November 6th. The company reported $0.44 earnings per share (EPS) for the quarter, topping 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 return on equity of 19.47% and a net margin of 10.40%. Analysts forecast that Mach Natural Resources will post 1.95 earnings per share for the current year.

Mach Natural Resources Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 4th. Investors of record on Thursday, November 20th were paid a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 8.7%. The ex-dividend date was Thursday, November 20th. Mach Natural Resources’s payout ratio is 112.50%.

About Mach Natural Resources

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.