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

Mach Natural Resources LP (NYSE:MNR) has received a consensus recommendation of “Moderate Buy” from the eight ratings firms that are covering the firm, MarketBeat reports. Four research analysts have rated the stock with a hold rating, two have assigned a buy rating and two have issued a strong buy rating on the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $18.50.

A number of research firms recently issued reports on MNR. Wall Street Zen downgraded shares of Mach Natural Resources from a “buy” rating to a “hold” rating in a research report on Sunday, May 10th. Weiss Ratings downgraded shares of Mach Natural Resources from a “hold (c)” rating to a “hold (c-)” rating in a research report on Monday, May 18th. Zacks Research downgraded shares of Mach Natural Resources from a “strong-buy” rating to a “hold” rating in a research report on Monday. Finally, Truist Financial began 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 for the company.

Insiders Place Their Bets

In other Mach Natural Resources news, major shareholder General Partner S.A R.L. Ikav sold 5,557,679 shares of the company’s stock in a transaction dated Wednesday, April 8th. The shares were sold at an average price of $12.81, for a total value of $71,193,867.99. Following the completion of the transaction, the insider owned 4,259,110 shares in the company, valued at approximately $54,559,199.10. This represents a 56.61% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director William Wallace Mcmullen acquired 3,570 shares of the firm’s stock in a transaction on Thursday, March 19th. The stock was purchased at an average price of $14.00 per share, with a total value of $49,980.00. Following the transaction, the director owned 74,854,202 shares of the company’s stock, valued at approximately $1,047,958,828. This trade represents a 0.00% increase in their position. The SEC filing for this purchase provides additional information. Over the last quarter, insiders bought 163,541 shares of company stock worth $2,142,861. Company insiders own 87.80% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Cooksen Wealth LLC raised its position in shares of Mach Natural Resources by 87.5% during the 2nd quarter. Cooksen Wealth LLC now owns 2,635 shares of the company’s stock worth $38,000 after purchasing an additional 1,230 shares during the last quarter. Hilton Head Capital Partners LLC acquired a new position in shares of Mach Natural Resources during the 4th quarter worth about $31,000. Gunpowder Capital Management LLC dba Oliver Wealth Management acquired a new position in shares of Mach Natural Resources during the 4th quarter worth about $42,000. Kestra Advisory Services LLC acquired a new position in shares of Mach Natural Resources during the 4th quarter worth about $44,000. Finally, CENTRAL TRUST Co raised 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 purchasing an additional 3,962 shares during the last quarter. Institutional investors and hedge funds own 78.36% of the company’s stock.

Mach Natural Resources Trading Up 0.4%

NYSE MNR opened at $13.45 on Friday. The company has a market capitalization of $2.26 billion, a PE ratio of 17.46 and a beta of -0.33. The company has a fifty day moving average of $13.64 and a 200 day moving average of $12.60. Mach Natural Resources has a 1 year low of $10.46 and a 1 year high of $15.60. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.83 and a quick ratio of 0.73.

Mach Natural Resources (NYSE:MNR) last posted its earnings results on Thursday, May 7th. The company reported $0.74 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.51 by $0.23. The company 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 1.54 earnings per share for the current year.

Mach Natural Resources Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 4th. Investors of record on Thursday, May 21st will be given a dividend of $0.64 per share. This is a boost from Mach Natural Resources’s previous quarterly dividend of $0.53. This represents a $2.56 dividend on an annualized basis and a yield of 19.0%. The ex-dividend date is Thursday, May 21st. Mach Natural Resources’s payout ratio is presently 332.47%.

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.