Zacks Research Upgrades Mach Natural Resources (NYSE:MNR) to Hold

Mach Natural Resources (NYSE:MNR) was upgraded by Zacks Research from a “strong sell” rating to a “hold” rating in a research report issued to clients and investors on Monday,Zacks.com reports.

Several other equities research analysts also recently weighed in on the stock. Northland Securities set a $20.00 price target on shares of Mach Natural Resources in a research report on Monday, November 10th. KeyCorp assumed coverage on shares of Mach Natural Resources in a research report on Wednesday, August 27th. They set an “overweight” rating on the stock. Northland Capmk raised Mach Natural Resources to a “strong-buy” rating in a report on Monday, October 13th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Mach Natural Resources in a report on Monday. Finally, William Blair started coverage on shares of Mach Natural Resources in a research note on Monday, August 25th. They set an “outperform” rating for the company. Two 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 assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $22.25.

Mach Natural Resources Stock Up 0.8%

MNR stock traded up $0.10 during trading on Monday, reaching $11.49. The stock had a trading volume of 37,333 shares, compared to its average volume of 323,037. The company has a market capitalization of $1.93 billion, a price-to-earnings ratio of 11.96 and a beta of -0.12. The company has a quick ratio of 0.87, a current ratio of 1.00 and a debt-to-equity ratio of 0.58. The company’s 50 day moving average is $12.03 and its two-hundred day moving average is $13.43. Mach Natural Resources has a one year low of $10.93 and a one year high of $19.00.

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 analysts’ consensus estimates of $0.34 by $0.10. Mach Natural Resources had a net margin of 10.40% and a return on equity of 19.47%. The firm had revenue of $272.56 million during the quarter, compared to the consensus estimate of $243.65 million. Equities research analysts forecast that Mach Natural Resources will post 1.95 EPS for the current year.

Institutional Trading of Mach Natural Resources

A number of hedge funds and other institutional investors have recently modified their holdings of MNR. Kayne Anderson Capital Advisors LP acquired a new stake in shares of Mach Natural Resources in the third quarter worth $252,892,000. Goldman Sachs Group Inc. lifted its position 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 worth $59,320,000 after buying an additional 2,084,511 shares in the last quarter. American Century Companies Inc. grew its stake in shares of Mach Natural Resources by 4.1% during the second quarter. American Century Companies Inc. now owns 2,578,929 shares of the company’s stock valued at $37,240,000 after purchasing an additional 100,574 shares during the last quarter. ING Groep NV increased its holdings in shares of Mach Natural Resources by 85.4% in the third quarter. ING Groep NV now owns 827,000 shares of the company’s stock valued at $10,900,000 after purchasing an additional 381,000 shares in the last quarter. Finally, CIBC Bancorp USA Inc. bought a new position in Mach Natural Resources in the 3rd quarter worth approximately $7,926,000. Institutional investors own 78.36% of the company’s stock.

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.