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

Key Points

• Mach Natural Resources has a consensus analyst rating of “Moderate Buy” from eight brokerages, with an average 12-month price target of $18.20.
• The company recently reported Q1 earnings of $0.74 per share, topping estimates of $0.51, though revenue came in below expectations at $286 million versus the $397.61 million forecast.
• Mach Natural Resources also raised its quarterly dividend to $0.64 per share from $0.53, implying an annualized yield of about 19.5%.

Shares of Mach Natural Resources LP (NYSE:MNR - Get Free Report) have earned a consensus rating of "Moderate Buy" from the eight brokerages that are currently covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, two have assigned a buy rating and two have assigned 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 $18.20.

Several brokerages recently issued reports on MNR. Weiss Ratings lowered Mach Natural Resources from a "hold (c)" rating to a "hold (c-)" rating in a research note on Monday, May 18th. Truist Financial initiated coverage on Mach Natural Resources in a research report on Tuesday, March 24th. They issued a "hold" rating and a $14.00 price objective for the company. Stephens set a $20.00 price objective on Mach Natural Resources in a report on Monday. Raymond James Financial boosted their price objective on Mach Natural Resources from $18.00 to $19.00 and gave the company a "strong-buy" rating in a research report on Tuesday. Finally, Zacks Research lowered Mach Natural Resources from a "hold" rating to a "strong sell" rating in a research note on Monday, July 13th.

Mach Natural Resources Stock Performance

NYSE MNR opened at $13.16 on Friday. The company's fifty day moving average is $13.28 and its two-hundred day moving average is $12.89. Mach Natural Resources has a 52-week low of $10.46 and a 52-week high of $15.58. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.83 and a quick ratio of 0.73. The firm has a market capitalization of $2.21 billion, a price-to-earnings ratio of 17.09 and a beta of -0.27.

Mach Natural Resources (NYSE:MNR - Get Free Report) last announced its quarterly earnings data on Thursday, May 7th. The company reported $0.74 EPS for the quarter, beating analysts' consensus estimates of $0.51 by $0.23. Mach Natural Resources had a net margin of 7.46% and a return on equity of 18.46%. The business had revenue of $286.00 million during the quarter, compared to analyst estimates of $397.61 million. Equities research analysts forecast that Mach Natural Resources will post 1.77 EPS for the current year.

Mach Natural Resources Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 4th. Shareholders of record on Thursday, May 21st were paid a dividend of $0.64 per share. This is an increase from Mach Natural Resources's previous quarterly dividend of $0.53. This represents a $2.56 dividend on an annualized basis and a yield of 19.5%. The ex-dividend date was Thursday, May 21st. Mach Natural Resources's dividend payout ratio is presently 332.47%.

Hedge Funds Weigh In On Mach Natural Resources

A number of hedge funds have recently made changes to their positions in MNR. Goldman Sachs Group Inc. boosted 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 in the last quarter. ING Groep NV increased its stake in Mach Natural Resources by 23.1% in the fourth quarter. ING Groep NV now owns 1,018,000 shares of the company's stock valued at $11,239,000 after acquiring an additional 191,000 shares during the period. CIBC Bancorp USA Inc. acquired a new position in Mach Natural Resources in the third quarter worth about $7,926,000. First Trust Advisors LP raised its position in Mach Natural Resources by 19.7% in the fourth quarter. First Trust Advisors LP now owns 539,012 shares of the company's stock worth $5,951,000 after purchasing an additional 88,590 shares in the last quarter. Finally, Raymond James Financial Inc. lifted its stake in Mach Natural Resources by 22.9% during the third quarter. Raymond James Financial Inc. now owns 376,757 shares of the company's stock worth $4,966,000 after purchasing an additional 70,180 shares during the period. Institutional investors and hedge funds own 78.36% of the company's stock.

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. The company was incorporated in 2023 and is headquartered in Oklahoma City, Oklahoma.

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