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

Key Points

• Mach Natural Resources LP (NYSE:MNR) has received an average recommendation of "Buy" from five brokers, with four analysts rating it as a buy and one as a strong buy.
• The company reported $0.76 earnings per share for the latest quarter, surpassing the consensus estimate of $0.53.
• Mach Natural Resources has declared a dividend of $0.38 per share, representing a yield of 1,057.0%, which is set to be paid on September 4th.

Shares of Mach Natural Resources LP (NYSE:MNR - Get Free Report) have been given an average recommendation of "Buy" by the five analysts that are covering the stock, Marketbeat Ratings reports. Four analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $23.00.

A number of equities analysts have weighed in on MNR shares. KeyCorp started coverage on Mach Natural Resources in a research report on Wednesday. They issued an "overweight" rating for the company. Wall Street Zen lowered Mach Natural Resources from a "buy" rating to a "hold" rating in a research report on Saturday, July 26th. Raymond James Financial reissued a "strong-buy" rating on shares of Mach Natural Resources in a research report on Monday, July 14th. Finally, William Blair started coverage on Mach Natural Resources in a research report on Monday, August 25th. They issued an "outperform" rating for the company.

Mach Natural Resources Stock Down 0.1%

Mach Natural Resources stock traded down $0.01 during mid-day trading on Wednesday, reaching $14.26. The stock had a trading volume of 285,234 shares, compared to its average volume of 283,457. The company has a market capitalization of $1.69 billion, a price-to-earnings ratio of 7.35 and a beta of -0.07. The company has a 50-day moving average price of $14.59 and a two-hundred day moving average price of $14.40. Mach Natural Resources has a one year low of $12.40 and a one year high of $19.34. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.79 and a quick ratio of 0.69.

Mach Natural Resources (NYSE:MNR - Get Free Report) last announced its quarterly earnings results on Thursday, August 7th. The company reported $0.76 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.53 by $0.23. The company had revenue of $288.52 million for the quarter, compared to analysts' expectations of $237.56 million. Mach Natural Resources had a net margin of 20.83% and a return on equity of 23.23%. On average, analysts expect that Mach Natural Resources will post 1.95 EPS for the current fiscal year.

Mach Natural Resources Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 4th. Stockholders of record on Thursday, August 21st will be paid a $0.38 dividend. This represents a $1.52 annualized dividend and a dividend yield of 10.7%. The ex-dividend date is Thursday, August 21st. Mach Natural Resources's dividend payout ratio is 78.35%.

Insider Buying and Selling at Mach Natural Resources

In other Mach Natural Resources news, Director William Wallace Mcmullen acquired 144,900 shares of the business's stock in a transaction dated Monday, June 16th. The stock was purchased at an average price of $14.96 per share, with a total value of $2,167,704.00. Following the transaction, the director directly owned 74,812,939 shares in the company, valued at approximately $1,119,201,567.44. The trade was a 0.19% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In the last 90 days, insiders have acquired 528,614 shares of company stock worth $7,633,031. Company insiders own 87.80% of the company's stock.

Institutional Investors Weigh In On Mach Natural Resources

A number of hedge funds have recently modified their holdings of MNR. Goldman Sachs Group Inc. grew its position in shares of Mach Natural Resources by 120.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 3,814,782 shares of the company's stock valued at $59,320,000 after acquiring an additional 2,084,511 shares during the period. First Trust Advisors LP purchased a new stake in Mach Natural Resources in the 2nd quarter worth approximately $7,630,000. American Century Companies Inc. increased its holdings in Mach Natural Resources by 10.9% in the 1st quarter. American Century Companies Inc. now owns 2,478,355 shares of the company's stock worth $38,538,000 after acquiring an additional 244,020 shares in the last quarter. Cooper Creek Partners Management LLC purchased a new stake in Mach Natural Resources in the 2nd quarter worth approximately $3,487,000. Finally, Pin Oak Investment Advisors Inc. purchased a new stake in Mach Natural Resources in the 1st quarter worth approximately $3,349,000. Institutional investors own 78.36% of the company's stock.

About Mach Natural Resources

Mach Natural Resources LP, an independent upstream oil and gas company, focuses on the acquisition, development, and production of oil, natural gas, and natural gas liquids reserves in the Anadarko Basin region of Western Oklahoma, Southern Kansas, and the panhandle of Texas. It also owns a portfolio of midstream assets, as well as owns plants and water infrastructure.