Mach Natural Resources LP (NYSE:MNR) Receives Consensus Rating of "Buy" from Analysts

Key Points

• Mach Natural Resources LP has received an average rating of "Buy" from six brokerage firms, with a target price of $23.00 per share.
• Director William Wallace Mcmullen recently purchased 3,085 shares for approximately $44,393, increasing his stake in the company significantly.
• The company reported a quarterly earnings per share of $0.76, exceeding analyst estimates, and declared a quarterly dividend of $0.38 with an annual yield of 11.6%.

Mach Natural Resources LP (NYSE:MNR - Get Free Report) has received a consensus rating of "Buy" from the six brokerages that are covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a hold recommendation, four have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $23.00.

Several brokerages have recently issued reports on MNR. William Blair began coverage on shares of Mach Natural Resources in a research report on Monday, August 25th. They set an "outperform" rating on the stock. KeyCorp assumed coverage on shares of Mach Natural Resources in a report on Wednesday, August 27th. They issued an "overweight" rating on the stock. Raymond James Financial reaffirmed a "strong-buy" rating on shares of Mach Natural Resources in a report on Monday, July 14th. Wall Street Zen cut shares of Mach Natural Resources from a "buy" rating to a "hold" rating in a report on Saturday, July 26th. Finally, Zacks Research raised shares of Mach Natural Resources from a "strong sell" rating to a "hold" rating in a report on Friday, September 12th.

Mach Natural Resources Stock Up 1.1%

Shares of MNR traded up $0.15 during mid-day trading on Friday, hitting $13.12. 107,331 shares of the company's stock were exchanged, compared to its average volume of 313,618. The company has a market cap of $1.55 billion, a price-to-earnings ratio of 6.76 and a beta of -0.07. Mach Natural Resources has a fifty-two week low of $12.40 and a fifty-two week high of $19.00. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.69 and a current ratio of 0.79. The stock's 50-day moving average is $14.29 and its 200-day moving average is $14.21.

Mach Natural Resources (NYSE:MNR - Get Free Report) last issued its quarterly earnings results on Thursday, August 7th. The company reported $0.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.53 by $0.23. The business 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, sell-side analysts anticipate that Mach Natural Resources will post 1.95 earnings per share for the current fiscal year.

Mach Natural Resources Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 4th. Investors of record on Thursday, August 21st were issued a $0.38 dividend. The ex-dividend date of this dividend was Thursday, August 21st. This represents a $1.52 annualized dividend and a yield of 11.6%. Mach Natural Resources's dividend payout ratio (DPR) is 78.35%.

Insiders Place Their Bets

In other news, Director William Wallace Mcmullen bought 3,085 shares of Mach Natural Resources stock in a transaction that occurred on Monday, August 11th. The shares were purchased at an average price of $14.39 per share, with a total value of $44,393.15. Following the completion of the acquisition, the director directly owned 74,816,024 shares in the company, valued at $1,076,602,585.36. The trade was a 0.00% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 87.80% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Mach Natural Resources

A number of hedge funds have recently modified their holdings of the business. Parallel Advisors LLC grew its position in Mach Natural Resources by 100.0% in the 1st quarter. Parallel Advisors LLC now owns 2,000 shares of the company's stock valued at $31,000 after buying an additional 1,000 shares during the last quarter. Chung Wu Investment Group LLC acquired a new position in shares of Mach Natural Resources during the 2nd quarter worth $38,000. Cooksen Wealth LLC raised its stake in shares of Mach Natural Resources by 87.5% during the 2nd quarter. Cooksen Wealth LLC now owns 2,635 shares of the company's stock worth $38,000 after buying an additional 1,230 shares during the last quarter. State of Wyoming acquired a new position in shares of Mach Natural Resources during the 1st quarter worth $108,000. Finally, Osaic Holdings Inc. raised its stake in shares of Mach Natural Resources by 208.5% during the 2nd quarter. Osaic Holdings Inc. now owns 8,302 shares of the company's stock worth $120,000 after buying an additional 5,611 shares during the last quarter. 78.36% of the stock is currently owned by hedge funds and other institutional investors.

Mach Natural Resources Company Profile

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.