Mach Natural Resources (NYSE:MNR) Upgraded by Zacks Research to Hold Rating

Key Points

• Zacks Research upgraded Mach Natural Resources from “strong sell” to “hold,” while the broader analyst consensus remains “Moderate Buy” with a $17.60 target price.
• Shares opened at $13.10 and were down 0.4%; the stock has traded between $10.46 and $15.02 over the past year, with a market capitalization of approximately $2.19 billion.
• Institutional investors own 78.36% of the company, with Goldman Sachs more than doubling its position during the first quarter.

Mach Natural Resources (NYSE:MNR - Get Free Report) was upgraded by stock analysts at Zacks Research from a "strong sell" rating to a "hold" rating in a report released on Tuesday,Zacks.com reports.

Other research analysts have also issued research reports about the stock. Weiss Ratings upgraded shares of Mach Natural Resources from a "hold (c-)" rating to a "hold (c)" rating in a research note on Tuesday. Raymond James Financial upped their target price on Mach Natural Resources from $18.00 to $19.00 and gave the stock a "strong-buy" rating in a research report on Tuesday, July 14th. Citigroup reaffirmed an "outperform" rating on shares of Mach Natural Resources in a research note on Monday. Northland Securities set a $17.00 price target on Mach Natural Resources in a research report on Monday. Finally, Stephens set a $20.00 price objective on Mach Natural Resources in a research note on Monday, July 13th. Two research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $17.60.

Mach Natural Resources Trading Down 0.4%

Shares of NYSE:MNR opened at $13.10 on Tuesday. The company has a 50 day moving average of $13.03 and a 200-day moving average of $13.19. The firm has a market cap of $2.19 billion, a P/E ratio of 22.20 and a beta of -0.31. Mach Natural Resources has a twelve month low of $10.46 and a twelve month high of $15.02. The company has a current ratio of 0.83, a quick ratio of 0.73 and a debt-to-equity ratio of 0.61.

Institutional Trading of Mach Natural Resources

Hedge funds have recently bought and sold shares of the stock. Goldman Sachs Group Inc. grew its position in 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 worth $59,320,000 after acquiring an additional 2,084,511 shares during the last quarter. ING Groep NV boosted 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 worth $11,239,000 after purchasing an additional 191,000 shares in the last quarter. First Trust Advisors LP grew its holdings in shares of Mach Natural Resources by 19.7% during 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 during the last quarter. Raymond James Financial Inc. grew its holdings in shares of 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 last quarter. Finally, &PARTNERS increased its stake in shares of Mach Natural Resources by 454.1% in the fourth quarter. &PARTNERS now owns 270,833 shares of the company's stock valued at $2,980,000 after buying an additional 221,958 shares in the last quarter. 78.36% of the stock is owned by institutional investors.

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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