Mach Natural Resources (NYSE:MNR) Hits New 52-Week Low - Here's Why

Key Points

• Mach Natural Resources (NYSE:MNR) reached a new 52-week low of $12.34 during trading, closing at $12.53, amidst a trading volume of 149,680 shares.
• Despite recent stock declines, several analysts maintain a Moderate Buy consensus rating for MNR, with a price target of $23.00.
• The company recently announced a quarterly dividend of $0.38 per share, representing an annual yield of 12.2%, alongside a robust earnings report exceeding analyst estimates.

Shares of Mach Natural Resources LP (NYSE:MNR - Get Free Report) reached a new 52-week low during trading on Friday . The company traded as low as $12.34 and last traded at $12.53, with a volume of 149680 shares. The stock had previously closed at $12.87.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on MNR shares. Raymond James Financial reaffirmed a "strong-buy" rating on shares of Mach Natural Resources in a research note on Monday, July 14th. Zacks Research raised shares of Mach Natural Resources from a "strong sell" rating to a "hold" rating in a research note on Friday, September 12th. William Blair began coverage on shares of Mach Natural Resources in a research report on Monday, August 25th. They set an "outperform" rating for the company. KeyCorp began coverage on shares of Mach Natural Resources in a research report on Wednesday, August 27th. They set an "overweight" rating for the company. Finally, 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. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, Mach Natural Resources has a consensus rating of "Moderate Buy" and a consensus price target of $23.00.

Mach Natural Resources Stock Performance

The business's fifty day moving average price is $13.81 and its 200-day moving average price is $14.08. 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 has a market cap of $1.48 billion, a PE ratio of 6.45 and a beta of -0.11.

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, beating analysts' consensus estimates 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 firm had revenue of $288.52 million for the quarter, compared to the consensus estimate of $237.56 million. As a group, equities research analysts forecast that Mach Natural Resources LP will post 1.95 EPS for the current fiscal year.

Mach Natural Resources Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 4th. Shareholders of record on Thursday, August 21st were paid a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 12.2%. The ex-dividend date of this dividend was Thursday, August 21st. Mach Natural Resources's payout ratio is presently 78.35%.

Insiders Place Their Bets

In other Mach Natural Resources news, Director William Wallace Mcmullen acquired 3,085 shares of the stock in a transaction that occurred on Monday, August 11th. The stock was bought 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 $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 the SEC website. 87.80% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Mach Natural Resources

Several hedge funds have recently bought and sold shares of MNR. Chung Wu Investment Group LLC purchased a new position in shares of Mach Natural Resources during the 2nd quarter valued at approximately $38,000. Cooksen Wealth LLC increased its stake in shares of Mach Natural Resources by 87.5% in the 2nd quarter. Cooksen Wealth LLC now owns 2,635 shares of the company's stock worth $38,000 after acquiring an additional 1,230 shares during the last quarter. State of Wyoming acquired a new stake in shares of Mach Natural Resources in the 1st quarter worth $108,000. Osaic Holdings Inc. lifted 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 during the last quarter. Finally, Hudson Valley Investment Advisors Inc. ADV acquired a new position in Mach Natural Resources in the second quarter valued at about $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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