Mach Natural Resources LP (NYSE:MNR) Given Average Rating of "Moderate Buy" by Brokerages

Key Points

• Mach Natural Resources LP (NYSE:MNR) has an average consensus rating of "Moderate Buy" from eight brokerages, with price targets averaging $22.50.
• The company recently declared a quarterly dividend of $0.38 per share, providing an annual yield of 12.4%.
• In the last quarter, Mach Natural Resources reported an EPS of $0.76, surpassing analyst expectations and posting a revenue of $288.52 million.

Mach Natural Resources LP (NYSE:MNR - Get Free Report) has received a consensus recommendation of "Moderate Buy" from the eight brokerages that are covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, one has given a hold recommendation, four have given a buy recommendation and two have given a strong buy recommendation to the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $22.50.

Several research analysts have recently commented on MNR shares. Weiss Ratings reaffirmed a "hold (c-)" rating on shares of Mach Natural Resources in a report on Wednesday, October 8th. KeyCorp initiated coverage on shares of Mach Natural Resources in a report on Wednesday, August 27th. They set an "overweight" rating on the stock. Northland Securities set a $21.00 price target on shares of Mach Natural Resources in a research report on Tuesday. William Blair initiated coverage on shares of Mach Natural Resources in a research report on Monday, August 25th. They set an "outperform" rating on the stock. Finally, Zacks Research lowered shares of Mach Natural Resources from a "hold" rating to a "strong sell" rating in a research report on Monday.

Insider Activity

In related news, Director William Wallace Mcmullen bought 3,085 shares of the business's stock in a transaction on Monday, August 11th. The shares were purchased at an average price of $14.39 per share, for a total transaction of $44,393.15. Following the completion of the transaction, the director directly owned 74,816,024 shares of the company's stock, valued at approximately $1,076,602,585.36. This represents a 0.00% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Corporate insiders own 87.80% of the company's stock.

Institutional Trading of Mach Natural Resources

Hedge funds have recently added to or reduced their stakes in the stock. CWM LLC acquired a new stake in Mach Natural Resources in the third quarter valued at approximately $27,000. Chung Wu Investment Group LLC acquired a new stake in Mach Natural Resources in the second quarter valued at approximately $38,000. Cooksen Wealth LLC boosted its position in Mach Natural Resources by 87.5% in the second quarter. Cooksen Wealth LLC now owns 2,635 shares of the company's stock valued at $38,000 after buying an additional 1,230 shares in the last quarter. State of Wyoming acquired a new stake in Mach Natural Resources in the first quarter valued at approximately $108,000. Finally, Osaic Holdings Inc. boosted its position in Mach Natural Resources by 208.5% in the second quarter. Osaic Holdings Inc. now owns 8,302 shares of the company's stock valued at $120,000 after buying an additional 5,611 shares in the last quarter. Institutional investors and hedge funds own 78.36% of the company's stock.

Mach Natural Resources Stock Up 0.1%

Shares of MNR opened at $12.23 on Thursday. Mach Natural Resources has a 12 month low of $12.20 and a 12 month high of $19.00. The firm's 50 day moving average is $13.62 and its 200-day moving average is $13.99. The stock has a market capitalization of $1.45 billion, a PE ratio of 6.30 and a beta of -0.11. The company has a current ratio of 0.79, a quick ratio of 0.69 and a debt-to-equity ratio of 0.41.

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

Mach Natural Resources Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, September 4th. Investors of record on Thursday, August 21st were given a dividend of $0.38 per share. The ex-dividend date was Thursday, August 21st. This represents a $1.52 annualized dividend and a dividend yield of 12.4%. Mach Natural Resources's dividend payout ratio (DPR) is currently 78.35%.

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.

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