Mach Natural Resources (NYSE:MNR) Rating Lowered to "Hold" at Wall Street Zen

Key Points

• Wall Street Zen downgraded Mach Natural Resources from “Buy” to “Hold.” Despite the downgrade, analyst consensus remains “Moderate Buy,” with a $16.67 average target price.
• Mach reported quarterly EPS of $0.34, slightly above estimates of $0.33, but revenue of $319.24 million fell short of the $352.43 million forecast.
• Insiders bought 261,927 shares worth about $2.9 million over the last quarter; insiders own 87.8% of the company’s stock.

Mach Natural Resources (NYSE:MNR - Get Free Report) was downgraded by stock analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a research note issued on Sunday, Wall Street Zen reports.

Other analysts also recently issued reports about the company. Capital One Financial assumed coverage on Mach Natural Resources in a report on Friday, September 4th. They issued an "overweight" rating and a $16.00 target price for the company. Stifel Nicolaus started coverage on Mach Natural Resources in a research note on Thursday, September 10th. They set a "buy" rating and a $15.00 price target on the stock. Citigroup reaffirmed an "outperform" rating on shares of Mach Natural Resources in a research report on Monday, August 10th. Zacks Research raised Mach Natural Resources from a "strong sell" rating to a "hold" rating in a research report on Monday, October 19th. Finally, Raymond James Financial reduced their price objective on Mach Natural Resources from $19.00 to $16.00 and set a "strong-buy" rating for the company in a research note on Tuesday, September 29th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $16.67.

Mach Natural Resources Stock Up 0.3%

NYSE:MNR traded up $0.03 during midday trading on Friday, hitting $9.04. 814,375 shares of the company were exchanged, compared to its average volume of 574,804. The company has a fifty day simple moving average of $10.68 and a 200 day simple moving average of $12.54. Mach Natural Resources has a fifty-two week low of $8.87 and a fifty-two week high of $15.02. The company has a current ratio of 0.79, a quick ratio of 0.76 and a debt-to-equity ratio of 0.63. The company has a market capitalization of $1.54 billion, a PE ratio of 9.73 and a beta of -0.23.

Mach Natural Resources (NYSE:MNR - Get Free Report) last announced its quarterly earnings results on Thursday, November 5th. The company reported $0.34 earnings per share for the quarter, beating analysts' consensus estimates of $0.33 by $0.01. The firm had revenue of $319.24 million during the quarter, compared to analysts' expectations of $352.43 million. Mach Natural Resources had a net margin of 10.48% and a return on equity of 16.47%. As a group, equities analysts anticipate that Mach Natural Resources will post 1.70 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Tom Ward acquired 172,413 shares of the business's stock in a transaction on Monday, September 14th. The stock was bought at an average price of $11.60 per share, for a total transaction of $1,999,990.80. Following the transaction, the insider owned 13,467,452 shares in the company, valued at $156,222,443.20. This represents a 1.30% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director William McMullen acquired 22,124 shares of the business's stock in a transaction on Tuesday, September 15th. The shares were purchased at an average price of $11.25 per share, with a total value of $248,895.00. Following the transaction, the director owned 22,124 shares in the company, valued at $248,895. The trade was a ∞ increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last quarter, insiders purchased 261,927 shares of company stock worth $2,895,443. 87.80% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Mach Natural Resources

A number of institutional investors have recently added to or reduced their stakes in the business. PEAK6 LLC lifted its position in Mach Natural Resources by 170.1% during the 3rd quarter. PEAK6 LLC now owns 854,294 shares of the company's stock worth $8,748,000 after acquiring an additional 538,051 shares in the last quarter. Royce & Associates LP lifted its holdings in Mach Natural Resources by 80.7% in the 3rd quarter. Royce & Associates LP now owns 810,784 shares of the company's stock worth $8,302,000 after buying an additional 362,178 shares in the last quarter. Pin Oak Investment Advisors Inc. purchased a new position in Mach Natural Resources in the 2nd quarter valued at about $3,064,000. Boston Partners grew its stake in shares of Mach Natural Resources by 447.1% during the third quarter. Boston Partners now owns 116,779 shares of the company's stock valued at $1,196,000 after acquiring an additional 95,435 shares in the last quarter. Finally, First Trust Advisors LP increased its position in shares of Mach Natural Resources by 7.7% during the third quarter. First Trust Advisors LP now owns 532,428 shares of the company's stock worth $5,452,000 after acquiring an additional 38,177 shares during the last quarter. Hedge funds and other institutional investors own 78.36% of the company's stock.

About Mach Natural Resources

Mach Natural Resources LP is an independent oil and natural gas company focused on acquiring, developing and producing energy resources. Its operations include oil, natural gas and natural gas liquids, with activity concentrated in the Anadarko and Arkoma basins in the Mid-Continent region. The company became publicly traded in 2023. Its chief executive officer is Tom L. Ward, an energy-industry executive and co-founder of Mach Resources.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.