Mach Natural Resources LP (NYSE:MNR) Stock Has Average Target Price of $16.33

Shares of Mach Natural Resources LP (NYSE:MNR) have been assigned an average recommendation of “Moderate Buy” from the nine analysts that are presently covering the firm, MarketBeat reports. One analyst has rated the stock with a sell rating, three have issued a hold rating, three have issued a buy rating and two have assigned a strong buy rating to the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $16.33.

MNR has been the topic of a number of analyst reports. Stifel Nicolaus began coverage on Mach Natural Resources in a research note on Thursday, September 10th. They set a “buy” rating and a $15.00 price objective on the stock. Stephens set a $20.00 target price on shares of Mach Natural Resources in a report on Monday, July 13th. Weiss Ratings cut shares of 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 price target 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. Finally, Northland Securities set a $17.00 price target on Mach Natural Resources in a report on Monday, August 10th.

Mach Natural Resources Stock Performance

Mach Natural Resources stock opened at $10.66 on Thursday. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.76 and a current ratio of 0.88. The stock has a fifty day moving average of $12.08 and a two-hundred day moving average of $12.89. The company has a market capitalization of $1.78 billion, a price-to-earnings ratio of 18.07 and a beta of -0.22. Mach Natural Resources has a fifty-two week low of $10.15 and a fifty-two week high of $15.02.

Mach Natural Resources Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, August 31st. Shareholders of record on Monday, August 17th were paid a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a yield of 13.5%. The ex-dividend date of this dividend was Monday, August 17th. This is a negative change from Mach Natural Resources’s previous quarterly dividend of $0.64. Mach Natural Resources’s dividend payout ratio is 244.07%.

Insider Transactions at Mach Natural Resources

In related news, insider Tom Ward acquired 172,413 shares of the business’s stock in a transaction dated Monday, September 14th. The shares were acquired at an average cost of $11.60 per share, for a total transaction of $1,999,990.80. Following the acquisition, the insider directly owned 13,467,452 shares in the company, valued at approximately $156,222,443.20. The trade was a 1.30% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director William McMullen bought 22,124 shares of the firm’s stock in a transaction that occurred on Tuesday, September 15th. The stock was bought at an average cost of $11.25 per share, for a total transaction of $248,895.00. Following the completion of the transaction, the director directly owned 22,124 shares of the company’s stock, valued at approximately $248,895. The trade was a ∞ increase in their position. The SEC filing for this purchase provides additional information. In the last ninety days, insiders have bought 206,927 shares of company stock valued at $2,388,893. Corporate insiders own 87.80% of the company’s stock.

Hedge Funds Weigh In On Mach Natural Resources

Several hedge funds and other institutional investors have recently modified their holdings of MNR. ING Groep NV lifted its position in Mach Natural Resources by 23.1% during the fourth quarter. ING Groep NV now owns 1,018,000 shares of the company’s stock valued at $11,239,000 after buying an additional 191,000 shares in the last quarter. Pin Oak Investment Advisors Inc. purchased a new stake in Mach Natural Resources during the 2nd quarter worth $3,064,000. Tidal Investments LLC increased its holdings in Mach Natural Resources by 94.7% in the 2nd quarter. Tidal Investments LLC now owns 41,112 shares of the company’s stock valued at $520,000 after purchasing an additional 19,997 shares in the last quarter. Wedbush Securities Inc. increased its holdings in Mach Natural Resources by 3.2% in the 2nd quarter. Wedbush Securities Inc. now owns 29,167 shares of the company’s stock valued at $369,000 after purchasing an additional 913 shares in the last quarter. Finally, Avior Wealth Management LLC purchased a new position in Mach Natural Resources in the second quarter valued at about $253,000. 78.36% of the stock is owned by institutional investors and hedge funds.

Mach Natural Resources Company Profile

Mach Natural Resources LP is an independent oil and natural gas company engaged in the acquisition, development, and production of oil, natural gas, and natural gas liquids. The company focuses on operated assets in the Anadarko Basin of Western Oklahoma, where it develops conventional and unconventional reserves.

Mach’s operations include drilling, completing, and producing wells, as well as managing related gathering and midstream infrastructure. Its production portfolio is centered on crude oil, natural gas, and natural gas liquids sold into regional and broader U.S.