Mach Natural Resources LP (NYSE:MNR) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Shares of Mach Natural Resources LP (NYSE:MNR) have received an average rating of “Moderate Buy” from the eight research firms that are currently covering the company, MarketBeat Ratings reports. Four 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 price objective among analysts that have issued ratings on the stock in the last year is $17.50.

Several research analysts have recently weighed in on the stock. Wall Street Zen downgraded shares of Mach Natural Resources from a “buy” rating to a “hold” rating in a research note on Sunday, May 10th. Truist Financial began coverage on shares of Mach Natural Resources in a report on Tuesday, March 24th. They issued a “hold” rating and a $14.00 price objective on the stock. Zacks Research cut shares of Mach Natural Resources from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 25th. Raymond James Financial decreased their price objective on shares of Mach Natural Resources from $20.00 to $18.00 and set a “strong-buy” rating for the company in a research report on Thursday. Finally, Weiss Ratings cut shares of Mach Natural Resources from a “hold (c)” rating to a “hold (c-)” rating in a research report on Monday, May 18th.

Mach Natural Resources Price Performance

MNR stock opened at $12.54 on Tuesday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.73 and a current ratio of 0.83. Mach Natural Resources has a 1 year low of $10.46 and a 1 year high of $15.60. The firm has a market cap of $2.11 billion, a P/E ratio of 16.28 and a beta of -0.32. The stock has a 50-day simple moving average of $13.42 and a 200-day simple moving average of $12.76.

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. Mach Natural Resources had a return on equity of 18.46% and a net margin of 7.46%.The business had revenue of $286.00 million during the quarter, compared to analyst estimates of $397.61 million. On average, equities analysts predict that Mach Natural Resources will post 1.57 earnings per share for the current fiscal year.

Mach Natural Resources Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 4th. Investors of record on Thursday, May 21st were paid a $0.64 dividend. This represents a $2.56 annualized dividend and a dividend yield of 20.4%. This is a positive change from Mach Natural Resources’s previous quarterly dividend of $0.53. The ex-dividend date was Thursday, May 21st. Mach Natural Resources’s payout ratio is presently 332.47%.

Insider Activity

In related news, major shareholder General Partner S.A R.L. Ikav sold 5,557,679 shares of the business’s stock in a transaction dated Wednesday, April 8th. The stock was sold at an average price of $12.81, for a total value of $71,193,867.99. Following the transaction, the insider owned 4,259,110 shares in the company, valued at approximately $54,559,199.10. The trade was a 56.61% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Tom L. Ward purchased 153,256 shares of the business’s stock in a transaction that occurred on Monday, April 13th. The stock was acquired at an average price of $13.05 per share, for a total transaction of $1,999,990.80. Following the purchase, the insider owned 13,295,039 shares of the company’s stock, valued at approximately $173,500,258.95. This represents a 1.17% increase in their position. The SEC filing for this purchase provides additional information. Insiders own 87.80% of the company’s stock.

Institutional Trading of Mach Natural Resources

A number of hedge funds and other institutional investors have recently made changes to their positions in MNR. Kayne Anderson Capital Advisors LP bought a new stake in shares of Mach Natural Resources in the third quarter worth $252,892,000. Goldman Sachs Group Inc. increased its stake in shares of Mach Natural Resources by 120.5% in the first quarter. Goldman Sachs Group Inc. now owns 3,814,782 shares of the company’s stock worth $59,320,000 after buying an additional 2,084,511 shares during the last quarter. CIBC Bancorp USA Inc. bought a new stake in shares of Mach Natural Resources in the third quarter worth $7,926,000. First Trust Advisors LP bought a new stake in shares of Mach Natural Resources in the second quarter worth $7,630,000. Finally, Clear Street Group Inc. bought a new stake in shares of Mach Natural Resources in the third quarter worth $5,638,000. Institutional investors own 78.36% of the company’s stock.

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.