Mach Natural Resources LP (NYSE:MNR) Receives $23.00 Average PT from Analysts

Mach Natural Resources LP (NYSE:MNR) has been assigned a consensus rating of “Buy” from the six analysts that are covering the firm, MarketBeat.com reports. One analyst has rated the stock with a hold recommendation, four have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $23.00.

A number of brokerages recently commented on MNR. KeyCorp initiated coverage on Mach Natural Resources in a research report on Wednesday, August 27th. They issued an “overweight” rating on the stock. Raymond James Financial reaffirmed a “strong-buy” rating on shares of Mach Natural Resources in a report on Monday, July 14th. Wall Street Zen downgraded shares of Mach Natural Resources from a “buy” rating to a “hold” rating in a report on Saturday, July 26th. Zacks Research raised shares of Mach Natural Resources from a “strong sell” rating to a “hold” rating in a report on Friday, September 12th. Finally, William Blair initiated coverage on shares of Mach Natural Resources in a research report on Monday, August 25th. They set an “outperform” rating for the company.

Insider Transactions at Mach Natural Resources

In related news, Director William Wallace Mcmullen acquired 3,085 shares of the stock in a transaction on Monday, August 11th. The shares were acquired at an average price of $14.39 per share, for a total transaction of $44,393.15. Following the transaction, the director owned 74,816,024 shares in the company, valued at approximately $1,076,602,585.36. This trade represents a 0.00% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 87.80% of the company’s stock.

Hedge Funds Weigh In On Mach Natural Resources

Several large investors have recently made changes to their positions in MNR. Parallel Advisors LLC boosted its holdings in Mach Natural Resources by 100.0% during the first quarter. Parallel Advisors LLC now owns 2,000 shares of the company’s stock worth $31,000 after buying an additional 1,000 shares in the last quarter. Chung Wu Investment Group LLC acquired a new position in shares of Mach Natural Resources in the second quarter worth about $38,000. Cooksen Wealth LLC raised its position in shares of Mach Natural Resources by 87.5% in the second quarter. Cooksen Wealth LLC now owns 2,635 shares of the company’s stock worth $38,000 after acquiring an additional 1,230 shares during the period. State of Wyoming purchased a new stake in shares of Mach Natural Resources during the 1st quarter worth about $108,000. Finally, Osaic Holdings Inc. grew its position in shares of Mach Natural Resources by 208.5% during the 2nd quarter. Osaic Holdings Inc. now owns 8,302 shares of the company’s stock valued at $120,000 after acquiring an additional 5,611 shares during the period. 78.36% of the stock is currently owned by institutional investors and hedge funds.

Mach Natural Resources Stock Performance

Shares of MNR stock opened at $13.12 on Friday. The business has a fifty day moving average of $14.19 and a 200 day moving average of $14.19. Mach Natural Resources has a 1 year low of $12.40 and a 1 year high of $19.00. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.79 and a quick ratio of 0.69. The firm has a market capitalization of $1.55 billion, a price-to-earnings ratio of 6.76 and a beta of -0.07.

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

Mach Natural Resources Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, September 4th. Investors of record on Thursday, August 21st were issued a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 11.6%. The ex-dividend date of this dividend was Thursday, August 21st. Mach Natural Resources’s dividend payout ratio (DPR) is 78.35%.

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.