Mach Natural Resources (NYSE:MNR) Stock Rating Upgraded by Wall Street Zen

Mach Natural Resources (NYSE:MNR) was upgraded by stock analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research note issued to investors on Friday.

Separately, Raymond James Financial reaffirmed a “strong-buy” rating on shares of Mach Natural Resources in a research note on Monday.

Mach Natural Resources Trading Down 0.2%

Shares of Mach Natural Resources stock opened at $14.69 on Friday. Mach Natural Resources has a 12-month low of $12.40 and a 12-month high of $20.94. The stock has a market cap of $1.74 billion, a P/E ratio of 9.18 and a beta of -0.07. The company has a quick ratio of 0.61, a current ratio of 0.69 and a debt-to-equity ratio of 0.33. The business’s 50 day moving average is $14.28 and its 200-day moving average is $14.99.

Mach Natural Resources (NYSE:MNR) last posted its earnings results on Thursday, May 8th. The company reported $0.68 earnings per share for the quarter, missing analysts’ consensus estimates of $0.69 by ($0.01). Mach Natural Resources had a return on equity of 20.39% and a net margin of 16.65%. The business had revenue of $227.00 million for the quarter, compared to analyst estimates of $259.09 million. Equities research analysts predict that Mach Natural Resources will post 1.95 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director William Wallace Mcmullen purchased 144,900 shares of the company’s stock in a transaction dated Monday, June 16th. The shares were purchased at an average price of $14.96 per share, with a total value of $2,167,704.00. Following the transaction, the director directly owned 74,812,939 shares of the company’s stock, valued at approximately $1,119,201,567.44. This represents a 0.19% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders acquired a total of 525,529 shares of company stock valued at $7,588,638 over the last 90 days. 87.80% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Mach Natural Resources

A number of institutional investors have recently added to or reduced their stakes in the business. Janney Montgomery Scott LLC increased its position in shares of Mach Natural Resources by 20.4% during the 2nd quarter. Janney Montgomery Scott LLC now owns 14,754 shares of the company’s stock valued at $213,000 after purchasing an additional 2,500 shares during the last quarter. Arrow Investment Advisors LLC purchased a new stake in Mach Natural Resources during the 2nd quarter valued at about $156,000. Goldman Sachs Group Inc. boosted its holdings 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 acquiring an additional 2,084,511 shares during the period. State of Wyoming purchased a new stake in Mach Natural Resources during the 1st quarter valued at about $108,000. Finally, Penn Capital Management Company LLC purchased a new stake in Mach Natural Resources during the 1st quarter valued at about $519,000. 78.36% of the stock is currently owned by institutional investors.

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.