Mach Natural Resources (NYSE:MNR) Cut to Strong Sell at Zacks Research

Zacks Research downgraded shares of Mach Natural Resources (NYSE:MNR) from a hold rating to a strong sell rating in a research note published on Monday,Zacks.com reports.

A number of other equities analysts have also recently weighed in on MNR. Northland Capmk raised Mach Natural Resources to a “strong-buy” rating in a report on Monday. Raymond James Financial reiterated a “strong-buy” rating on shares of Mach Natural Resources in a research report on Monday, July 14th. Weiss Ratings reissued a “hold (c-)” rating on shares of Mach Natural Resources in a research note on Wednesday, October 8th. Northland Securities set a $21.00 target price on shares of Mach Natural Resources in a report on Tuesday. Finally, William Blair assumed coverage on shares of Mach Natural Resources in a research note on Monday, August 25th. They set an “outperform” rating on the stock. Two research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $22.50.

Mach Natural Resources Stock Performance

Shares of MNR opened at $12.23 on Monday. Mach Natural Resources has a 12-month low of $12.20 and a 12-month high of $19.00. The stock has a market cap of $1.45 billion, a P/E ratio of 6.30 and a beta of -0.11. The company has a current ratio of 0.79, a quick ratio of 0.69 and a debt-to-equity ratio of 0.41. The company has a 50-day moving average of $13.62 and a two-hundred day moving average of $13.99.

Mach Natural Resources (NYSE:MNR) last issued its quarterly earnings data on Thursday, August 7th. The company reported $0.76 earnings per share for the quarter, topping analysts’ consensus estimates of $0.53 by $0.23. Mach Natural Resources had a net margin of 20.83% and a return on equity of 23.23%. The business had revenue of $288.52 million during the quarter, compared to analysts’ expectations of $237.56 million. As a group, research analysts predict that Mach Natural Resources will post 1.95 EPS for the current fiscal year.

Mach Natural Resources Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 4th. Shareholders of record on Thursday, August 21st were paid a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 12.4%. The ex-dividend date of this dividend was Thursday, August 21st. Mach Natural Resources’s dividend payout ratio (DPR) is presently 78.35%.

Insider Buying and Selling

In other Mach Natural Resources news, Director William Wallace Mcmullen purchased 3,085 shares of the stock in a transaction on Monday, August 11th. The stock was bought at an average price of $14.39 per share, for a total transaction of $44,393.15. Following the acquisition, the director directly owned 74,816,024 shares of the company’s stock, valued at $1,076,602,585.36. This represents a 0.00% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this link. 87.80% of the stock is owned by company insiders.

Institutional Investors Weigh In On Mach Natural Resources

A number of institutional investors have recently bought and sold shares of MNR. CWM LLC acquired a new position in Mach Natural Resources during the third quarter worth approximately $27,000. Chung Wu Investment Group LLC purchased a new stake in shares of Mach Natural Resources during the 2nd quarter valued at $38,000. Cooksen Wealth LLC grew its stake 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 valued at $38,000 after buying an additional 1,230 shares during the period. State of Wyoming acquired a new stake in shares of Mach Natural Resources during the 1st quarter worth $108,000. Finally, Osaic Holdings Inc. raised its position in shares of Mach Natural Resources by 208.5% in the 2nd quarter. Osaic Holdings Inc. now owns 8,302 shares of the company’s stock worth $120,000 after buying an additional 5,611 shares during the period. 78.36% of the stock is currently owned by hedge funds and other 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.