Mach Natural Resources LP (NYSE:MNR) Stock Rated "Moderate Buy" by Wall Street Analysts

Key Points

• Analysts rate Mach Natural Resources a “Moderate Buy.” Among eight analysts, three recommend buying, one recommends a strong buy and four rate the stock a hold; the average 12-month price target is $16.67.
• Shares opened at $10.87, near the lower end of their 12-month range of $10.15 to $15.02. The company reduced its quarterly dividend to $0.36 per share, resulting in an annualized yield of approximately 13.2% but a payout ratio exceeding 244%.
• Insiders have been buying shares: insiders purchased 206,927 shares worth about $2.4 million over the past 90 days, and insiders collectively own 87.8% of the company.

Mach Natural Resources LP (NYSE:MNR - Get Free Report) has been assigned an average rating of "Moderate Buy" from the eight brokerages that are presently covering the company, Marketbeat.com reports. Four research analysts have rated the stock with a hold recommendation, three have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $16.67.

MNR has been the topic of several recent research reports. Citigroup reiterated an "outperform" rating on shares of Mach Natural Resources in a research report on Monday, August 10th. Stifel Nicolaus initiated coverage on Mach Natural Resources in a research note on Thursday, September 10th. They issued a "buy" rating and a $15.00 price objective for the company. Northland Securities set a $19.00 price objective on Mach Natural Resources in a research note on Tuesday, October 20th. Wall Street Zen upgraded Mach Natural Resources from a "hold" rating to a "buy" rating in a research report on Saturday, August 15th. Finally, Weiss Ratings lowered Mach Natural Resources from a "hold (c)" rating to a "hold (c-)" rating in a report on Wednesday, September 16th.

Mach Natural Resources Stock Performance

Shares of NYSE MNR opened at $10.87 on Monday. Mach Natural Resources has a 12-month low of $10.15 and a 12-month high of $15.02. The firm has a market capitalization of $1.81 billion, a price-to-earnings ratio of 18.42 and a beta of -0.22. The company has a current ratio of 0.88, a quick ratio of 0.76 and a debt-to-equity ratio of 0.63. The firm has a 50 day moving average of $11.49 and a 200 day moving average of $12.61.

Mach Natural Resources Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 31st. Stockholders of record on Monday, August 17th were given a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 13.2%. The ex-dividend date of this dividend was Monday, August 17th. This is a decrease from Mach Natural Resources's previous quarterly dividend of $0.64. Mach Natural Resources's payout ratio is presently 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 that occurred on Monday, September 14th. The stock was bought at an average cost of $11.60 per share, for a total transaction of $1,999,990.80. Following the purchase, the insider owned 13,467,452 shares in the company, valued at $156,222,443.20. The trade was a 1.30% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director William McMullen bought 22,124 shares of Mach Natural Resources stock in a transaction that occurred on Tuesday, September 15th. The stock was purchased at an average cost of $11.25 per share, with a total value of $248,895.00. Following the completion of the acquisition, the director directly owned 22,124 shares in the company, valued at $248,895. This represents a ∞ increase in their position. The SEC filing for this purchase provides additional information. Over the last ninety days, insiders have bought 206,927 shares of company stock worth $2,388,893. Insiders own 87.80% of the company's stock.

Hedge Funds Weigh In On Mach Natural Resources

Large investors have recently added to or reduced their stakes in the company. CENTRAL TRUST Co increased its stake in shares of Mach Natural Resources by 384.7% in the first quarter. CENTRAL TRUST Co now owns 4,992 shares of the company's stock worth $70,000 after purchasing an additional 3,962 shares in the last quarter. Royal Bank of Canada raised its position in shares of Mach Natural Resources by 42.8% during the 1st quarter. Royal Bank of Canada now owns 13,882 shares of the company's stock valued at $194,000 after purchasing an additional 4,164 shares during the period. Avior Wealth Management LLC purchased a new position in shares of Mach Natural Resources during the 2nd quarter valued at $253,000. Novem Group lifted its stake in shares of Mach Natural Resources by 25.0% during the 3rd quarter. Novem Group now owns 30,000 shares of the company's stock valued at $307,000 after buying an additional 6,000 shares in the last quarter. Finally, Wedbush Securities Inc. lifted its stake in shares of Mach Natural Resources by 3.2% during the 2nd quarter. Wedbush Securities Inc. now owns 29,167 shares of the company's stock valued at $369,000 after buying an additional 913 shares in the last quarter. Hedge funds and other institutional investors own 78.36% of the company's stock.

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.

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