Zacks Research Downgrades Mach Natural Resources (NYSE:MNR) to Strong Sell

Key Points

• Zacks Research downgraded Mach Natural Resources from “hold” to “strong sell,” contrasting with the broader analyst consensus of “Moderate Buy” and an average price target of $16.83.
• Mach Natural Resources shares opened at $11.18, down 10.5%, with the stock trading between a 52-week low of $10.46 and high of $15.02.
• Institutional investors remain significantly involved, owning 78.36% of the company, with several firms recently initiating or increasing positions.

Mach Natural Resources (NYSE:MNR - Get Free Report) was downgraded by research analysts at Zacks Research from a "hold" rating to a "strong sell" rating in a research note issued to investors on Monday, Zacks reports.

A number of other equities analysts have also recently weighed in on MNR. Northland Securities set a $17.00 price target on shares of Mach Natural Resources in a research report on Monday, August 10th. Capital One Financial began coverage on shares of Mach Natural Resources in a research report on Friday, September 4th. They set an "overweight" rating and a $16.00 price objective for the company. Weiss Ratings upgraded Mach Natural Resources from a "hold (c-)" rating to a "hold (c)" rating in a report on Tuesday, August 11th. Wall Street Zen upgraded shares of Mach Natural Resources from a "hold" rating to a "buy" rating in a research note on Saturday, August 15th. Finally, Citigroup reiterated an "outperform" rating on shares of Mach Natural Resources in a research note on Monday, August 10th. Two analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Mach Natural Resources currently has a consensus rating of "Moderate Buy" and a consensus target price of $16.83.

Mach Natural Resources Stock Down 10.5%

Shares of NYSE MNR opened at $11.18 on Monday. The stock has a market cap of $1.87 billion, a P/E ratio of 18.94 and a beta of -0.32. The firm has a 50 day moving average price of $12.90 and a 200 day moving average price of $13.20. 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 52-week low of $10.46 and a 52-week high of $15.02.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Pin Oak Investment Advisors Inc. bought a new position in Mach Natural Resources during the second quarter worth about $3,064,000. ING Groep NV raised its stake in Mach Natural Resources by 23.1% in the 4th quarter. ING Groep NV now owns 1,018,000 shares of the company's stock worth $11,239,000 after purchasing an additional 191,000 shares in the last quarter. GatePass Capital LLC bought a new stake in Mach Natural Resources in the 4th quarter valued at about $373,000. Avior Wealth Management LLC acquired a new position in shares of Mach Natural Resources during the 2nd quarter worth approximately $253,000. Finally, Tidal Investments LLC grew its position in shares of Mach Natural Resources by 94.7% during the 2nd 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. 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 focused on the acquisition, development and operation of producing properties in the Anadarko Basin of western Oklahoma. The company's operations are concentrated in a resource-rich region with established infrastructure and long-standing oil and gas activity.

Mach Natural Resources' production includes crude oil, natural gas and natural gas liquids. Its activities span the exploration and development of wells, production operations, and the management of related gathering and infrastructure assets.

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.