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

Shares of Mach Natural Resources LP (NYSE:MNR) have been given an average recommendation of “Moderate Buy” by the seven ratings firms that are covering the stock, MarketBeat reports. Three research analysts have rated the stock with a hold recommendation, two have issued a buy recommendation and two have issued a strong buy recommendation on the company. The average 12 month target price among analysts that have covered the stock in the last year is $20.00.

MNR has been the topic of a number of research analyst reports. Weiss Ratings raised shares of Mach Natural Resources from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday. Zacks Research raised shares of Mach Natural Resources from a “strong sell” rating to a “hold” rating in a research report on Monday. KeyCorp reaffirmed a “sector weight” rating on shares of Mach Natural Resources in a research note on Friday, January 16th. Finally, Stifel Nicolaus reduced their price target on shares of Mach Natural Resources from $22.00 to $18.00 and set a “buy” rating on the stock in a research report on Tuesday, January 6th.

Mach Natural Resources Price Performance

Shares of MNR stock opened at $14.03 on Friday. The firm has a market cap of $2.36 billion, a P/E ratio of 12.52 and a beta of -0.24. Mach Natural Resources has a fifty-two week low of $10.46 and a fifty-two week high of $15.91. The business’s 50 day moving average price is $12.48 and its 200-day moving average price is $12.36. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.93 and a current ratio of 1.05.

Mach Natural Resources (NYSE:MNR) last announced its earnings results on Thursday, March 12th. The company reported $0.43 EPS for the quarter, beating analysts’ consensus estimates of $0.26 by $0.17. Mach Natural Resources had a return on equity of 16.91% and a net margin of 12.16%.The company had revenue of $387.54 million during the quarter, compared to the consensus estimate of $357.31 million. On average, equities research analysts anticipate that Mach Natural Resources will post 1.95 earnings per share for the current year.

Mach Natural Resources Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 12th. Shareholders of record on Thursday, February 26th were given a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a yield of 15.1%. The ex-dividend date of this dividend was Thursday, February 26th. This is a positive change from Mach Natural Resources’s previous quarterly dividend of $0.27. Mach Natural Resources’s payout ratio is presently 189.29%.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in MNR. Kayne Anderson Capital Advisors LP purchased a new position in shares of Mach Natural Resources in the 3rd quarter valued at approximately $252,892,000. Goldman Sachs Group Inc. boosted its position in shares of 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 valued at $59,320,000 after purchasing an additional 2,084,511 shares in the last quarter. American Century Companies Inc. grew 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 worth $37,240,000 after purchasing an additional 100,574 shares during the period. ING Groep NV raised 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 worth $11,239,000 after purchasing an additional 191,000 shares in the last quarter. Finally, CIBC Bancorp USA Inc. bought a new position in Mach Natural Resources in the third quarter worth $7,926,000. Institutional investors own 78.36% of the company’s stock.

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. The company was incorporated in 2023 and is headquartered in Oklahoma City, Oklahoma.