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

Mach Natural Resources (NYSE:MNR) was downgraded by equities research analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a note issued to investors on Monday,Zacks.com reports.

MNR has been the subject of several other reports. Truist Financial initiated coverage on Mach Natural Resources in a research report on Tuesday, March 24th. They issued a “hold” rating and a $14.00 price objective for the company. Wall Street Zen lowered Mach Natural Resources from a “buy” rating to a “hold” rating in a research report on Sunday, May 10th. Finally, Weiss Ratings lowered Mach Natural Resources from a “hold (c)” rating to a “hold (c-)” rating in a research report on Monday, May 18th. Two analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $18.50.

Mach Natural Resources Trading Down 2.5%

Shares of Mach Natural Resources stock opened at $13.70 on Monday. The stock’s 50 day simple moving average is $13.65 and its 200-day simple moving average is $12.58. The stock has a market cap of $2.30 billion, a P/E ratio of 17.79 and a beta of -0.33. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.83 and a quick ratio of 0.73. Mach Natural Resources has a 1-year low of $10.46 and a 1-year high of $15.60.

Mach Natural Resources (NYSE:MNR) last released its quarterly earnings data on Thursday, May 7th. The company reported $0.74 EPS for the quarter, beating analysts’ consensus estimates of $0.51 by $0.23. The firm had revenue of $286.00 million for the quarter, compared to analysts’ expectations of $397.61 million. Mach Natural Resources had a return on equity of 18.46% and a net margin of 7.46%. Analysts predict that Mach Natural Resources will post 1.54 EPS for the current fiscal year.

Insider Transactions at Mach Natural Resources

In other news, major shareholder General Partner S.A R.L. Ikav sold 5,557,679 shares of the firm’s stock in a transaction on Wednesday, April 8th. The stock was sold at an average price of $12.81, for a total transaction of $71,193,867.99. Following the completion of the transaction, the insider directly owned 4,259,110 shares in the company, valued at $54,559,199.10. This trade represents a 56.61% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director William Wallace Mcmullen purchased 3,570 shares of the stock in a transaction dated Thursday, March 19th. The shares were purchased at an average price of $14.00 per share, with a total value of $49,980.00. Following the completion of the transaction, the director owned 74,854,202 shares of the company’s stock, valued at approximately $1,047,958,828. This trade represents a 0.00% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders bought a total of 163,541 shares of company stock worth $2,142,861 over the last ninety days. Company insiders own 87.80% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of MNR. Kayne Anderson Capital Advisors LP purchased a new position in shares of Mach Natural Resources during the third quarter worth $252,892,000. Goldman Sachs Group Inc. boosted its position in shares of Mach Natural Resources by 120.5% during the first 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 during the period. CIBC Bancorp USA Inc. purchased a new position in shares of Mach Natural Resources during the third quarter worth $7,926,000. First Trust Advisors LP purchased a new position in shares of Mach Natural Resources during the second quarter worth $7,630,000. Finally, Clear Street Group Inc. purchased a new position in shares of Mach Natural Resources during the third quarter worth $5,638,000. 78.36% of the stock is currently owned by hedge funds and other institutional investors.

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. The company was incorporated in 2023 and is headquartered in Oklahoma City, Oklahoma.