Mach Natural Resources LP (MNR) – What Are Investment Firms Thinking About This Stock?

Shares of Mach Natural Resources LP (NYSE:MNR) have received an average recommendation of “Moderate Buy” from the eight brokerages that are presently covering the stock, MarketBeat reports. Four investment analysts have rated the stock with a hold recommendation, three have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $16.67.

MNR has been the topic of a number of recent analyst reports. Northland Securities set a $19.00 target price on shares of Mach Natural Resources in a research note on Tuesday, October 20th. Wall Street Zen raised shares of Mach Natural Resources from a “hold” rating to a “buy” rating in a report on Saturday, August 15th. Raymond James Financial cut their target price on shares of Mach Natural Resources from $19.00 to $16.00 and set a “strong-buy” rating for the company in a research report on Tuesday, September 29th. Capital One Financial started coverage on Mach Natural Resources in a research note on Friday, September 4th. They issued an “overweight” rating and a $16.00 target price on the stock. Finally, Stephens set a $20.00 price target on Mach Natural Resources in a research note on Monday, July 13th.

Mach Natural Resources Price Performance

MNR opened at $10.59 on Monday. The firm has a market cap of $1.77 billion, a P/E ratio of 5.34 and a beta of -0.22. The firm has a 50-day moving average of $11.29 and a 200 day moving average of $12.63. 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 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 is a drop from Mach Natural Resources’s previous quarterly dividend of $0.64. This represents a $1.44 annualized dividend and a yield of 13.6%. The ex-dividend date of this dividend was Monday, August 17th. Mach Natural Resources’s payout ratio is presently 244.07%.

Insider Activity

In related news, insider Tom Ward acquired 172,413 shares of Mach Natural Resources stock in a transaction dated Monday, September 14th. The shares were purchased at an average cost of $11.60 per share, with a total value of $1,999,990.80. Following the completion of the purchase, the insider owned 13,467,452 shares of the company’s stock, valued at $156,222,443.20. This represents a 1.30% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director William McMullen acquired 12,390 shares of the firm’s stock in a transaction dated Tuesday, September 15th. The stock was bought at an average price of $11.30 per share, for a total transaction of $140,007.00. Following the acquisition, the director owned 74,872,307 shares of the company’s stock, valued at approximately $846,057,069.10. This trade represents a 0.02% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last 90 days, insiders have acquired 206,927 shares of company stock valued at $2,388,893. Company insiders own 87.80% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in MNR. Novem Group boosted its stake in shares of Mach Natural Resources by 25.0% during the third quarter. Novem Group now owns 30,000 shares of the company’s stock valued at $307,000 after purchasing an additional 6,000 shares during the period. Tidal Investments LLC grew its stake in Mach Natural Resources by 94.7% in the second quarter. Tidal Investments LLC now owns 41,112 shares of the company’s stock worth $520,000 after purchasing an additional 19,997 shares in the last quarter. Wedbush Securities Inc. grew its stake in Mach Natural Resources by 3.2% in the second quarter. Wedbush Securities Inc. now owns 29,167 shares of the company’s stock worth $369,000 after purchasing an additional 913 shares in the last quarter. Pin Oak Investment Advisors Inc. purchased a new position in Mach Natural Resources during the 2nd quarter worth $3,064,000. Finally, Avior Wealth Management LLC purchased a new position in Mach Natural Resources during the 2nd quarter worth $253,000. 78.36% of the stock is owned by hedge funds and other institutional investors.

Mach Natural Resources Company Profile

Mach Natural Resources LP is an independent oil and natural gas company focused on the acquisition, development and production of oil, natural gas and natural gas liquids. The company’s operations are concentrated in the Anadarko Basin of the Mid-Continent region.

Mach’s assets are primarily located in Western Oklahoma, with additional interests in surrounding areas of the Anadarko Basin, including parts of the Texas Panhandle and southern Kansas. Its activities include drilling and completing wells, operating producing properties and managing associated gathering and processing infrastructure.

The company was formed by Mach Resources and its affiliates and became a publicly traded limited partnership in 2023.