Mach Natural Resources (NYSE:MNR) Stock Rating Lowered by Wall Street Zen

Key Points

• Wall Street Zen downgraded Mach Natural Resources from "strong-buy" to "buy," though the Street consensus still registers as a Buy with a $18.50 average target price.
• Significant insider activity: Tom L. Ward bought 153,256 shares (~$2.0M), raising his stake to ~13.3M shares, while major holder General Partner S.A R.L. Ikav sold 5,557,679 shares (~$71.2M), cutting its ownership by 56.6%; insiders collectively own 87.8% of the company.
• Operationally, MNR beat the latest quarter's expectations with EPS of $0.43 versus $0.26 and revenue of $387.5M versus $357.3M, and analysts forecast about 1.75 EPS for the fiscal year; the company has a $2.32B market cap and a P/E of 12.32.

Mach Natural Resources (NYSE:MNR - Get Free Report) was downgraded by investment analysts at Wall Street Zen from a "strong-buy" rating to a "buy" rating in a note issued to investors on Saturday.

A number of other research analysts have also weighed in on the company. Weiss Ratings upgraded Mach Natural Resources from a "hold (c-)" rating to a "hold (c)" rating in a research report on Monday. Stifel Nicolaus cut their price objective on Mach Natural Resources from $22.00 to $18.00 and set a "buy" rating for the company in a research report on Tuesday, January 6th. Truist Financial started coverage on Mach Natural Resources in a research report on Tuesday, March 24th. They set a "hold" rating and a $14.00 price objective for the company. KeyCorp restated a "sector weight" rating on shares of Mach Natural Resources in a research report on Friday, January 16th. Finally, Zacks Research upgraded Mach Natural Resources from a "hold" rating to a "strong-buy" rating in a research report on Monday, April 20th. Three equities research analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Buy" and a consensus target price of $18.50.

Mach Natural Resources Trading Down 0.0%

Shares of Mach Natural Resources stock opened at $13.80 on Friday. The firm has a market cap of $2.32 billion, a price-to-earnings ratio of 12.32 and a beta of -0.33. The business has a 50-day moving average price of $13.38 and a 200-day moving average price of $12.35. The company has a quick ratio of 0.93, a current ratio of 1.05 and a debt-to-equity ratio of 0.58. Mach Natural Resources has a twelve month low of $10.46 and a twelve month high of $15.60.

Mach Natural Resources (NYSE:MNR - Get Free Report) last issued its quarterly earnings data on Thursday, March 12th. The company reported $0.43 earnings per share for the quarter, beating analysts' consensus estimates of $0.26 by $0.17. The firm had revenue of $387.54 million during the quarter, compared to analyst estimates of $357.31 million. Mach Natural Resources had a return on equity of 16.91% and a net margin of 12.16%. Equities research analysts anticipate that Mach Natural Resources will post 1.75 EPS for the current fiscal year.

Insider Buying and Selling

In other Mach Natural Resources news, insider Tom L. Ward acquired 153,256 shares of Mach Natural Resources stock in a transaction that occurred on Monday, April 13th. The stock was bought at an average price of $13.05 per share, with a total value of $1,999,990.80. Following the completion of the purchase, the insider directly owned 13,295,039 shares of the company's stock, valued at approximately $173,500,258.95. This represents a 1.17% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder General Partner S.A R.L. Ikav sold 5,557,679 shares of the company's stock in a transaction on Wednesday, April 8th. The stock was sold at an average price of $12.81, for a total value of $71,193,867.99. Following the transaction, the insider directly owned 4,259,110 shares in the company, valued at approximately $54,559,199.10. The trade was a 56.61% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders acquired 163,541 shares of company stock valued at $2,142,861 over the last 90 days. Corporate insiders own 87.80% of the company's stock.

Hedge Funds Weigh In On Mach Natural Resources

A number of large investors have recently made changes to their positions in MNR. Kayne Anderson Capital Advisors LP acquired a new position in shares of Mach Natural Resources during the third quarter worth $252,892,000. Goldman Sachs Group Inc. increased its position in shares of Mach Natural Resources by 120.5% during the first quarter. Goldman Sachs Group Inc. now owns 3,814,782 shares of the company's stock worth $59,320,000 after purchasing an additional 2,084,511 shares in the last quarter. CIBC Bancorp USA Inc. acquired a new position in shares of Mach Natural Resources during the third quarter worth $7,926,000. First Trust Advisors LP acquired a new position in shares of Mach Natural Resources during the second quarter worth $7,630,000. Finally, Clear Street Group Inc. acquired a new position in shares of Mach Natural Resources during the third quarter worth $5,638,000. 78.36% of the stock is owned by institutional investors and hedge funds.

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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