Mach Natural Resources (NYSE:MNR) Downgraded to Strong Sell Rating by Zacks Research

Zacks Research lowered shares of Mach Natural Resources (NYSE:MNR) from a hold rating to a strong sell rating in a research report report published on Monday,Zacks.com reports.

Other equities research analysts have also recently issued research reports about the company. Wall Street Zen cut Mach Natural Resources from a “buy” rating to a “hold” rating in a research note on Sunday, May 10th. Truist Financial assumed coverage on Mach Natural Resources in a research note on Tuesday, March 24th. They issued a “hold” rating and a $14.00 price target on the stock. Raymond James Financial increased their price target on Mach Natural Resources from $18.00 to $19.00 and gave the stock a “strong-buy” rating in a report on Tuesday. Weiss Ratings lowered shares of Mach Natural Resources from a “hold (c)” rating to a “hold (c-)” rating in a research note on Monday, May 18th. Finally, Stephens set a $20.00 target price on shares of Mach Natural Resources in a research report on Monday. Two research analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Mach Natural Resources currently has an average rating of “Moderate Buy” and an average price target of $18.20.

Mach Natural Resources Stock Performance

Shares of MNR opened at $13.10 on Monday. The company has a current ratio of 0.83, a quick ratio of 0.73 and a debt-to-equity ratio of 0.61. The firm’s fifty day simple moving average is $13.30 and its two-hundred day simple moving average is $12.86. Mach Natural Resources has a 12 month low of $10.46 and a 12 month high of $15.58. The stock has a market capitalization of $2.20 billion, a P/E ratio of 17.01 and a beta of -0.27.

Mach Natural Resources (NYSE:MNR) last posted its quarterly earnings data on Thursday, May 7th. The company reported $0.74 earnings per share for the quarter, topping the consensus estimate of $0.51 by $0.23. The firm had revenue of $286.00 million during the quarter, compared to analyst estimates of $397.61 million. Mach Natural Resources had a return on equity of 18.46% and a net margin of 7.46%. As a group, analysts predict that Mach Natural Resources will post 1.64 EPS for the current year.

Mach Natural Resources Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 4th. Shareholders of record on Thursday, May 21st were paid a dividend of $0.64 per share. This is a boost from Mach Natural Resources’s previous quarterly dividend of $0.53. The ex-dividend date was Thursday, May 21st. This represents a $2.56 annualized dividend and a yield of 19.5%. Mach Natural Resources’s dividend payout ratio (DPR) is 332.47%.

Institutional Trading of Mach Natural Resources

Institutional investors have recently made changes to their positions in the company. Hilton Head Capital Partners LLC bought a new stake in Mach Natural Resources in the 4th quarter worth about $31,000. Cooksen Wealth LLC lifted its position in shares of Mach Natural Resources by 87.5% during the 2nd quarter. Cooksen Wealth LLC now owns 2,635 shares of the company’s stock worth $38,000 after buying an additional 1,230 shares in the last quarter. Gunpowder Capital Management LLC dba Oliver Wealth Management bought a new position in shares of Mach Natural Resources during the 4th quarter worth approximately $42,000. Kestra Advisory Services LLC purchased a new position in shares of Mach Natural Resources in the 4th quarter worth approximately $44,000. Finally, CENTRAL TRUST Co boosted its stake in shares of Mach Natural Resources by 384.7% in the 1st quarter. CENTRAL TRUST Co now owns 4,992 shares of the company’s stock worth $70,000 after buying an additional 3,962 shares during the last quarter. Institutional investors own 78.36% of the company’s stock.

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