Mach Natural Resources (NYSE:MNR) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Mach Natural Resources (NYSE:MNR - Free Report) from a hold rating to a buy rating in a research note published on Friday.

Separately, Raymond James Financial reiterated a "strong-buy" rating on shares of Mach Natural Resources in a research note on Monday, July 14th.

Mach Natural Resources Stock Performance

MNR stock traded up $0.33 on Friday, reaching $14.75. The company's stock had a trading volume of 433,487 shares, compared to its average volume of 270,394. Mach Natural Resources has a 52 week low of $12.40 and a 52 week high of $20.94. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.69 and a quick ratio of 0.61. The firm has a fifty day moving average of $14.28 and a two-hundred day moving average of $14.94. The company has a market capitalization of $1.74 billion, a P/E ratio of 5.96 and a beta of -0.07.

Mach Natural Resources (NYSE:MNR - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The company reported $0.68 earnings per share for the quarter, missing the consensus estimate of $0.69 by ($0.01). The company had revenue of $227.00 million for the quarter, compared to the consensus estimate of $259.09 million. Mach Natural Resources had a return on equity of 20.39% and a net margin of 16.65%. As a group, analysts predict that Mach Natural Resources will post 1.95 EPS for the current fiscal year.

Mach Natural Resources Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 5th. Shareholders of record on Thursday, May 22nd were given a dividend of $0.79 per share. The ex-dividend date of this dividend was Thursday, May 22nd. This is an increase from Mach Natural Resources's previous quarterly dividend of $0.50. This represents a $3.16 annualized dividend and a yield of 21.43%. Mach Natural Resources's dividend payout ratio (DPR) is 197.50%.

Insider Activity

In other news, Director William Wallace Mcmullen acquired 144,900 shares of the stock in a transaction on Monday, June 16th. The stock was acquired at an average cost of $14.96 per share, for a total transaction of $2,167,704.00. Following the completion of the transaction, the director directly owned 74,812,939 shares in the company, valued at approximately $1,119,201,567.44. This trade represents a 0.19% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Insiders purchased 525,529 shares of company stock valued at $7,588,638 in the last three months. Insiders own 87.80% of the company's stock.

Institutional Trading of Mach Natural Resources

Several hedge funds have recently modified their holdings of the stock. Goldman Sachs Group Inc. grew its position in 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 valued at $59,320,000 after buying an additional 2,084,511 shares during the period. Raymond James Financial Inc. bought a new position in Mach Natural Resources in the 4th quarter worth approximately $5,128,000. American Century Companies Inc. grew its stake in Mach Natural Resources by 10.9% in the 1st quarter. American Century Companies Inc. now owns 2,478,355 shares of the company's stock valued at $38,538,000 after buying an additional 244,020 shares in the last quarter. Pin Oak Investment Advisors Inc. bought a new stake in Mach Natural Resources during the 1st quarter valued at $3,349,000. Finally, Invesco Ltd. purchased a new position in shares of Mach Natural Resources in the fourth quarter valued at $3,079,000. 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.