Mach Natural Resources (NYSE:MNR) Hits New 52-Week Low – What’s Next?

Mach Natural Resources LP (NYSE:MNR)’s share price reached a new 52-week low during mid-day trading on Friday . The stock traded as low as $10.93 and last traded at $11.3950, with a volume of 258827 shares. The stock had previously closed at $12.00.

Analyst Upgrades and Downgrades

MNR has been the subject of a number of analyst reports. Northland Capmk raised shares of Mach Natural Resources to a “strong-buy” rating in a research report on Monday, October 13th. William Blair assumed coverage on Mach Natural Resources in a report on Monday, August 25th. They issued an “outperform” rating for the company. Zacks Research cut Mach Natural Resources from a “hold” rating to a “strong sell” rating in a report on Monday, October 13th. Northland Securities set a $20.00 target price on Mach Natural Resources in a research note on Monday, November 10th. Finally, KeyCorp assumed coverage on Mach Natural Resources in a research note on Wednesday, August 27th. They issued an “overweight” rating on the stock. Two research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, Mach Natural Resources currently has a consensus rating of “Moderate Buy” and an average price target of $22.25.

Mach Natural Resources Trading Down 5.0%

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 market cap of $1.92 billion, a price-to-earnings ratio of 5.92 and a beta of -0.11. The firm has a 50-day moving average price of $12.53 and a 200 day moving average price of $13.68.

Mach Natural Resources (NYSE:MNR) last released its earnings results on Thursday, November 6th. The company reported $0.44 earnings per share for the quarter, beating the consensus estimate of $0.34 by $0.10. The firm had revenue of $272.56 million during the quarter, compared to analyst estimates of $243.65 million. Mach Natural Resources had a net margin of 20.83% and a return on equity of 23.23%. As a group, sell-side analysts forecast that Mach Natural Resources LP will post 1.95 EPS for the current year.

Mach Natural Resources Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 4th. Investors of record on Thursday, November 20th will be given a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 9.5%. The ex-dividend date of this dividend is Thursday, November 20th. Mach Natural Resources’s dividend payout ratio is currently 112.50%.

Hedge Funds Weigh In On Mach Natural Resources

A number of hedge funds and other institutional investors have recently bought and sold shares of MNR. CWM LLC acquired a new stake in shares of Mach Natural Resources during the 3rd quarter worth approximately $27,000. Chung Wu Investment Group LLC acquired a new stake in Mach Natural Resources in the second quarter worth $38,000. Cooksen Wealth LLC lifted its stake in Mach Natural Resources by 87.5% in the second 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 last quarter. Arlington Trust Co LLC bought a new stake in Mach Natural Resources in the third quarter valued at $53,000. Finally, State of Wyoming acquired a new position in shares of Mach Natural Resources during the first quarter valued at $108,000. 78.36% of the stock is currently owned by institutional investors and hedge funds.

About Mach Natural Resources

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.