Mach Natural Resources LP (NYSE:MNR) Receives Average Recommendation of "Moderate Buy" from Brokerages

Key Points

• Analysts maintain a “Moderate Buy” consensus on Mach Natural Resources, with nine firms assigning an average 12-month price target of $16.33 versus the stock’s recent price of $10.24.
• Company insiders have been buying shares, including purchases by Director William McMullen and insider Tom L. Ward; insiders collectively own 87.8% of the company.
• Mach Natural Resources cut its quarterly dividend to $0.36 from $0.64, equating to an annualized yield of about 14.1%, while its payout ratio remains elevated at 244.07%.

Mach Natural Resources LP (NYSE:MNR - Get Free Report) has been given an average recommendation of "Moderate Buy" by the nine ratings firms that are currently covering the company, MarketBeat reports. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, three have issued a buy rating and two have issued a strong buy rating on the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $16.33.

A number of equities analysts recently issued reports on 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 on the stock. Raymond James Financial decreased their price target on Mach Natural Resources from $19.00 to $16.00 and set a "strong-buy" rating for the company in a research report on Tuesday. Wall Street Zen raised Mach Natural Resources from a "hold" rating to a "buy" rating in a research note on Saturday, August 15th. Zacks Research downgraded Mach Natural Resources from a "hold" rating to a "strong sell" rating in a report on Monday, September 14th. Finally, Citigroup reiterated an "outperform" rating on shares of Mach Natural Resources in a report on Monday, August 10th.

Insider Activity at Mach Natural Resources

In other Mach Natural Resources news, Director William McMullen bought 22,124 shares of Mach Natural Resources stock in a transaction dated Tuesday, September 15th. The stock was bought at an average price of $11.25 per share, for a total transaction of $248,895.00. Following the completion of the acquisition, the director directly owned 22,124 shares of the company's stock, valued at approximately $248,895. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Tom L. Ward bought 172,413 shares of the firm's stock in a transaction dated Monday, September 14th. The stock was acquired at an average cost of $11.60 per share, with a total value of $1,999,990.80. Following the transaction, the insider owned 13,467,452 shares of the company's stock, valued at $156,222,443.20. This trade represents a 1.30% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last quarter, insiders have acquired 206,927 shares of company stock worth $2,388,893. Corporate insiders own 87.80% of the company's stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Hilton Head Capital Partners LLC acquired a new stake in Mach Natural Resources during the 4th quarter worth about $31,000. Gunpowder Capital Management LLC dba Oliver Wealth Management acquired a new position in shares of Mach Natural Resources in the 4th quarter valued at about $42,000. CENTRAL TRUST Co increased its holdings in shares of Mach Natural Resources by 384.7% in the 1st quarter. CENTRAL TRUST Co now owns 4,992 shares of the company's stock valued at $70,000 after purchasing an additional 3,962 shares during the period. Alpine Global Management LLC purchased a new stake in shares of Mach Natural Resources in the fourth quarter worth approximately $178,000. Finally, Royal Bank of Canada lifted its position in shares of Mach Natural Resources by 42.8% in the first quarter. Royal Bank of Canada now owns 13,882 shares of the company's stock worth $194,000 after purchasing an additional 4,164 shares in the last quarter. 78.36% of the stock is owned by institutional investors and hedge funds.

Mach Natural Resources Price Performance

Shares of NYSE:MNR opened at $10.24 on Thursday. Mach Natural Resources has a one year low of $10.15 and a one year high of $15.02. The stock has a fifty day moving average of $12.36 and a 200-day moving average of $13.00. The company has a market capitalization of $1.71 billion, a PE ratio of 17.36 and a beta of -0.32. 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 was paid on Monday, August 31st. Investors of record on Monday, August 17th were paid a $0.36 dividend. The ex-dividend date of this dividend was Monday, August 17th. This represents a $1.44 dividend on an annualized basis and a yield of 14.1%. This is a negative change from Mach Natural Resources's previous quarterly dividend of $0.64. Mach Natural Resources's dividend payout ratio (DPR) is 244.07%.

About Mach Natural Resources

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.

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