Mach Natural Resources (NYSE:MNR) Stock Rating Raised to Hold at Zacks Research

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

A number of other analysts have also commented on MNR. Weiss Ratings lowered Mach Natural Resources from a “hold (c)” rating to a “hold (c-)” rating in a research note on Wednesday, September 16th. Raymond James Financial lowered their target price on shares of Mach Natural Resources from $19.00 to $16.00 and set a “strong-buy” rating for the company in a report on Tuesday, September 29th. Stifel Nicolaus initiated coverage on shares of Mach Natural Resources in a research report on Thursday, September 10th. They set a “buy” rating and a $15.00 price objective on the stock. Wall Street Zen raised Mach Natural Resources from a “hold” rating to a “buy” rating in a report on Saturday, August 15th. Finally, Capital One Financial started coverage on Mach Natural Resources in a research report on Friday, September 4th. They issued an “overweight” rating and a $16.00 target price on the stock. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $16.67.

Mach Natural Resources Stock Down 0.3%

Shares of NYSE MNR opened at $10.76 on Monday. The company has a market cap of $1.80 billion, a price-to-earnings ratio of 5.42 and a beta of -0.22. Mach Natural Resources has a 52 week low of $10.15 and a 52 week high of $15.02. The company has a quick ratio of 0.76, a current ratio of 0.88 and a debt-to-equity ratio of 0.63. The firm’s fifty day moving average is $11.63 and its 200 day moving average is $12.68.

Insider Activity

In other Mach Natural Resources news, Director William McMullen bought 12,390 shares of the company’s stock in a transaction that occurred on Tuesday, September 15th. The shares were purchased at an average cost of $11.30 per share, for a total transaction of $140,007.00. Following the purchase, the director directly owned 74,872,307 shares in the company, valued at $846,057,069.10. This represents a 0.02% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Tom L. Ward acquired 172,413 shares of the business’s stock in a transaction dated Monday, September 14th. The shares were bought at an average price of $11.60 per share, for a total transaction of $1,999,990.80. Following the acquisition, the insider owned 13,467,452 shares of the company’s stock, valued at approximately $156,222,443.20. This represents a 1.30% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders purchased 206,927 shares of company stock valued at $2,388,893 over the last 90 days. 87.80% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Mach Natural Resources

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. CENTRAL TRUST Co raised its stake in shares of Mach Natural Resources by 384.7% in the first quarter. CENTRAL TRUST Co now owns 4,992 shares of the company’s stock worth $70,000 after purchasing an additional 3,962 shares during the last quarter. Royal Bank of Canada lifted its stake in shares of Mach Natural Resources by 42.8% in the 1st quarter. Royal Bank of Canada now owns 13,882 shares of the company’s stock valued at $194,000 after purchasing an additional 4,164 shares during the period. Avior Wealth Management LLC purchased a new stake in shares of Mach Natural Resources during the 2nd quarter worth about $253,000. Novem Group boosted its position in Mach Natural Resources by 25.0% during the third quarter. Novem Group now owns 30,000 shares of the company’s stock worth $307,000 after purchasing an additional 6,000 shares in the last quarter. Finally, Wedbush Securities Inc. lifted its position in shares of Mach Natural Resources by 3.2% during the 2nd quarter. Wedbush Securities Inc. now owns 29,167 shares of the company’s stock valued at $369,000 after buying an additional 913 shares in the last quarter. Hedge funds and other institutional investors own 78.36% of the company’s stock.

About Mach Natural Resources

Mach Natural Resources LP is an independent oil and natural gas company focused on the acquisition, development and production of oil, natural gas and natural gas liquids. The company’s operations are concentrated in the Anadarko Basin of the Mid-Continent region.

Mach’s assets are primarily located in Western Oklahoma, with additional interests in surrounding areas of the Anadarko Basin, including parts of the Texas Panhandle and southern Kansas. Its activities include drilling and completing wells, operating producing properties and managing associated gathering and processing infrastructure.

The company was formed by Mach Resources and its affiliates and became a publicly traded limited partnership in 2023.