Brokerages Set Mach Natural Resources LP (NYSE:MNR) Target Price at $18.20

Mach Natural Resources LP (NYSE:MNR) has been given a consensus recommendation of “Moderate Buy” by the eight research firms that are currently covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation, two have given a buy recommendation and two have given a strong buy recommendation to the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $18.20.

A number of brokerages recently commented on MNR. Zacks Research downgraded Mach Natural Resources from a “hold” rating to a “strong sell” rating in a research note on Monday, July 13th. Stephens set a $20.00 price target on shares of Mach Natural Resources in a research note on Monday, July 13th. Weiss Ratings lowered shares of Mach Natural Resources from a “hold (c)” rating to a “hold (c-)” rating in a research report on Monday, May 18th. Wall Street Zen downgraded Mach Natural Resources from a “buy” rating to a “hold” rating in a research report on Sunday, May 10th. Finally, Raymond James Financial raised their price objective on shares of Mach Natural Resources from $18.00 to $19.00 and gave the stock a “strong-buy” rating in a report on Tuesday, July 14th.

Mach Natural Resources Price Performance

Shares of NYSE:MNR opened at $13.53 on Friday. The business’s fifty day moving average price is $13.22 and its two-hundred day moving average price is $12.95. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.73 and a current ratio of 0.83. The stock has a market cap of $2.28 billion, a PE ratio of 17.58 and a beta of -0.27. Mach Natural Resources has a one year low of $10.46 and a one year high of $15.58.

Mach Natural Resources (NYSE:MNR) last released its quarterly earnings data on Thursday, May 7th. The company reported $0.74 EPS for the quarter, topping analysts’ consensus estimates of $0.51 by $0.23. The company had revenue of $286.00 million for the quarter, compared to the consensus estimate of $397.61 million. Mach Natural Resources had a return on equity of 18.46% and a net margin of 7.46%. On average, analysts forecast that Mach Natural Resources will post 1.73 EPS for the current fiscal year.

Mach Natural Resources Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, June 4th. Stockholders of record on Thursday, May 21st were given a dividend of $0.64 per share. This represents a $2.56 annualized dividend and a dividend yield of 18.9%. The ex-dividend date was Thursday, May 21st. This is an increase from Mach Natural Resources’s previous quarterly dividend of $0.53. Mach Natural Resources’s dividend payout ratio is presently 332.47%.

Institutional Investors Weigh In On Mach Natural Resources

Several large investors have recently made changes to their positions in the stock. Hilton Head Capital Partners LLC acquired a new position in shares of Mach Natural Resources during the 4th quarter worth approximately $31,000. Cooksen Wealth LLC raised its position in shares of Mach Natural Resources by 87.5% in 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 in the last quarter. Gunpowder Capital Management LLC dba Oliver Wealth Management bought a new stake in shares of Mach Natural Resources during the 4th quarter valued at $42,000. Kestra Advisory Services LLC acquired a new stake in Mach Natural Resources during the fourth quarter worth about $44,000. Finally, CENTRAL TRUST Co boosted its position in shares of Mach Natural Resources by 384.7% during the 1st quarter. CENTRAL TRUST Co now owns 4,992 shares of the company’s stock worth $70,000 after acquiring an additional 3,962 shares in the last quarter. 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.