Mach Natural Resources' (MNR) Hold (C-) Rating Reaffirmed at Weiss Ratings

Key Points

• Mach Natural Resources' (MNR) stock has been reaffirmed with a "hold (C-)" rating by Weiss Ratings, while several other analysts have issued mixed ratings ranging from "strong buy" to "hold."
• The company reported $0.76 earnings per share for the last quarter, exceeding the estimate of $0.53, with revenue of $288.52 million compared to analysts' expectations.
• Over 78% of the company's stock is owned by institutional investors, indicating strong interest and investment support in Mach Natural Resources.

Mach Natural Resources (NYSE:MNR - Get Free Report)'s stock had its "hold (c-)" rating restated by stock analysts at Weiss Ratings in a research note issued on Wednesday,Weiss Ratings reports.

Several other research analysts have also recently commented on MNR. Raymond James Financial restated a "strong-buy" rating on shares of Mach Natural Resources in a research report on Monday, July 14th. Wall Street Zen cut shares of Mach Natural Resources from a "buy" rating to a "hold" rating in a research report on Saturday, July 26th. William Blair initiated coverage on shares of Mach Natural Resources in a research report on Monday, August 25th. They issued an "outperform" rating for the company. Zacks Research upgraded shares of Mach Natural Resources from a "strong sell" rating to a "hold" rating in a research report on Friday, September 12th. Finally, KeyCorp began coverage on shares of Mach Natural Resources in a report on Wednesday, August 27th. They issued an "overweight" rating for the company. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, Mach Natural Resources currently has a consensus rating of "Moderate Buy" and an average target price of $23.00.

Mach Natural Resources Price Performance

MNR opened at $13.22 on Wednesday. The firm has a market cap of $1.56 billion, a price-to-earnings ratio of 6.81 and a beta of -0.11. Mach Natural Resources has a fifty-two week low of $12.40 and a fifty-two week high of $19.00. The company's 50-day moving average price is $13.86 and its 200 day moving average price is $14.10. The company has a quick ratio of 0.69, a current ratio of 0.79 and a debt-to-equity ratio of 0.41.

Mach Natural Resources (NYSE:MNR - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The company reported $0.76 earnings per share for the quarter, topping the consensus estimate of $0.53 by $0.23. The firm had revenue of $288.52 million for the quarter, compared to analyst estimates of $237.56 million. Mach Natural Resources had a net margin of 20.83% and a return on equity of 23.23%. As a group, sell-side analysts expect that Mach Natural Resources will post 1.95 earnings per share for the current year.

Insider Buying and Selling

In other Mach Natural Resources news, Director William Wallace Mcmullen bought 3,085 shares of the business's stock in a transaction that occurred on Monday, August 11th. The stock was acquired at an average cost of $14.39 per share, with a total value of $44,393.15. Following the completion of the purchase, the director directly owned 74,816,024 shares in the company, valued at approximately $1,076,602,585.36. This trade represents a 0.00% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link. 87.80% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Mach Natural Resources

Hedge funds have recently made changes to their positions in the company. Chung Wu Investment Group LLC purchased a new stake in Mach Natural Resources in the 2nd quarter worth approximately $38,000. Cooksen Wealth LLC raised its holdings 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 valued at $38,000 after purchasing an additional 1,230 shares in the last quarter. State of Wyoming bought a new position in shares of Mach Natural Resources during the 1st quarter valued at $108,000. Osaic Holdings Inc. raised its holdings 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 valued at $120,000 after purchasing an additional 5,611 shares in the last quarter. Finally, Hudson Valley Investment Advisors Inc. ADV bought a new position in shares of Mach Natural Resources during the 2nd quarter valued at $144,000. Hedge funds and other institutional investors 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.

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