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

Mach Natural Resources LP (NYSE:MNR) has earned an average rating of “Moderate Buy” from the eight research firms that are presently covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, four have given a buy rating and two have given a strong buy rating to the company. The average twelve-month target price among analysts that have covered the stock in the last year is $22.50.

A number of brokerages have weighed in on MNR. Raymond James Financial reaffirmed a “strong-buy” rating on shares of Mach Natural Resources in a research note on Monday, July 14th. Wall Street Zen lowered Mach Natural Resources from a “buy” rating to a “hold” rating in a research report on Saturday, July 26th. Northland Capmk raised Mach Natural Resources to a “strong-buy” rating in a report on Monday, October 13th. Weiss Ratings restated a “hold (c-)” rating on shares of Mach Natural Resources in a report on Wednesday, October 8th. Finally, Zacks Research cut shares of Mach Natural Resources from a “hold” rating to a “strong sell” rating in a research note on Monday, October 13th.

Institutional Investors Weigh In On Mach Natural Resources

Institutional investors and hedge funds have recently made changes to their positions in the company. Stephens Inc. AR raised its holdings in Mach Natural Resources by 81.5% in the 1st quarter. Stephens Inc. AR now owns 143,410 shares of the company’s stock worth $2,230,000 after acquiring an additional 64,410 shares during the last quarter. Verdence Capital Advisors LLC purchased a new position in shares of Mach Natural Resources in the first quarter worth $177,000. Pin Oak Investment Advisors Inc. bought a new position in shares of Mach Natural Resources during the first quarter valued at $3,349,000. XTX Topco Ltd boosted its position in shares of Mach Natural Resources by 131.5% during the first quarter. XTX Topco Ltd now owns 30,107 shares of the company’s stock valued at $468,000 after buying an additional 17,104 shares during the last quarter. Finally, Chicago Partners Investment Group LLC boosted its position in shares of Mach Natural Resources by 6.3% during the first quarter. Chicago Partners Investment Group LLC now owns 257,462 shares of the company’s stock valued at $4,004,000 after buying an additional 15,344 shares during the last quarter. Institutional investors own 78.36% of the company’s stock.

Mach Natural Resources Trading Down 3.8%

MNR opened at $11.62 on Monday. The company has a quick ratio of 0.69, a current ratio of 0.79 and a debt-to-equity ratio of 0.41. Mach Natural Resources has a 52 week low of $11.39 and a 52 week high of $19.00. The stock has a market cap of $1.95 billion, a PE ratio of 5.99 and a beta of -0.11. The business has a 50 day moving average of $12.89 and a 200-day moving average of $13.79.

Mach Natural Resources (NYSE:MNR) last issued its quarterly earnings results on Thursday, November 6th. The company reported $0.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.34 by $0.10. Mach Natural Resources had a net margin of 20.83% and a return on equity of 23.23%. The company had revenue of $272.56 million during the quarter, compared to analyst estimates of $243.65 million. Equities research analysts predict that Mach Natural Resources will post 1.95 earnings per share for the current fiscal year.

Mach Natural Resources Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 4th. Stockholders of record on Thursday, November 20th will be paid a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 9.3%. The ex-dividend date is Thursday, November 20th. Mach Natural Resources’s dividend payout ratio is currently 158.33%.

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.