Mach Natural Resources (NYSE:MNR) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Mach Natural Resources (NYSE:MNR) from a hold rating to a buy rating in a report released on Saturday morning.

Other equities analysts have also issued reports about the stock. Weiss Ratings upgraded shares of Mach Natural Resources from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday, August 11th. Stephens set a $20.00 target price on shares of Mach Natural Resources in a report on Monday, July 13th. Raymond James Financial upped their target price on shares of Mach Natural Resources from $18.00 to $19.00 and gave the company a “strong-buy” rating in a research report on Tuesday, July 14th. Northland Securities set a $17.00 price target on Mach Natural Resources in a research note on Monday, August 10th. Finally, Citigroup restated an “outperform” rating on shares of Mach Natural Resources in a research report on Monday, August 10th. Two research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $17.60.

Mach Natural Resources Stock Down 2.5%

NYSE MNR opened at $12.69 on Friday. The stock has a fifty day moving average of $12.98 and a 200-day moving average of $13.22. The stock has a market capitalization of $2.12 billion, a P/E ratio of 21.51 and a beta of -0.31. Mach Natural Resources has a 52 week low of $10.46 and a 52 week high of $15.02. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.76 and a current ratio of 0.88.

Mach Natural Resources Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 31st. Stockholders of record on Monday, August 17th will be given a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a dividend yield of 11.3%. The ex-dividend date of this dividend is Monday, August 17th. Mach Natural Resources’s dividend payout ratio is currently 433.90%.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Goldman Sachs Group Inc. increased its position in shares of Mach Natural Resources by 120.5% in the first quarter. Goldman Sachs Group Inc. now owns 3,814,782 shares of the company’s stock valued at $59,320,000 after acquiring an additional 2,084,511 shares during the last quarter. ING Groep NV grew its stake in Mach Natural Resources by 23.1% in the fourth quarter. ING Groep NV now owns 1,018,000 shares of the company’s stock valued at $11,239,000 after purchasing an additional 191,000 shares in the last quarter. First Trust Advisors LP increased its position in shares of Mach Natural Resources by 19.7% during the 4th quarter. First Trust Advisors LP now owns 539,012 shares of the company’s stock worth $5,951,000 after purchasing an additional 88,590 shares during the last quarter. Raymond James Financial Inc. increased its position in shares of Mach Natural Resources by 22.9% during the 3rd quarter. Raymond James Financial Inc. now owns 376,757 shares of the company’s stock worth $4,966,000 after purchasing an additional 70,180 shares during the last quarter. Finally, &PARTNERS raised its stake in shares of Mach Natural Resources by 454.1% during the 4th quarter. &PARTNERS now owns 270,833 shares of the company’s stock worth $2,980,000 after purchasing an additional 221,958 shares in the last quarter. Institutional investors and hedge funds 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.