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Wall Street Zen Downgrades Mach Natural Resources (NYSE:MNR) to Hold

Mach Natural Resources logo with Energy background

Key Points

  • Mach Natural Resources has been downgraded from a "buy" to a "hold" rating by Wall Street Zen in a recent research report.
  • Despite the downgrade, Raymond James Financial has maintained a "strong-buy" rating for the company's shares.
  • Director William Wallace Mcmullen recently acquired 144,900 shares of Mach Natural Resources, increasing his ownership and indicating insider confidence in the company's future.
  • Need better tools to track Mach Natural Resources? Try 5 Weeks of MarketBeat All Access for $5. Start Portfolio Tracking Now.

Wall Street Zen downgraded shares of Mach Natural Resources (NYSE:MNR - Free Report) from a buy rating to a hold rating in a report released on Saturday.

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

Read Our Latest Stock Report on MNR

Mach Natural Resources Stock Performance

Shares of MNR stock traded up $0.08 during trading on Friday, reaching $15.55. The company had a trading volume of 239,594 shares, compared to its average volume of 317,537. The firm's 50 day simple moving average is $14.40 and its two-hundred day simple moving average is $14.88. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.69 and a quick ratio of 0.61. Mach Natural Resources has a one year low of $12.40 and a one year high of $20.94. The company has a market capitalization of $1.84 billion, a PE ratio of 9.72 and a beta of -0.07.

Mach Natural Resources (NYSE:MNR - Get Free Report) last released its earnings results on Thursday, May 8th. The company reported $0.68 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.69 by ($0.01). The business had revenue of $227.00 million during the quarter, compared to analyst estimates of $259.09 million. Mach Natural Resources had a net margin of 16.65% and a return on equity of 20.39%. Sell-side analysts forecast that Mach Natural Resources will post 1.95 earnings per share for the current year.

Mach Natural Resources Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 5th. Stockholders of record on Thursday, May 22nd were issued a dividend of $0.79 per share. This represents a $3.16 annualized dividend and a dividend yield of 20.33%. The ex-dividend date of this dividend was Thursday, May 22nd. This is a positive change from Mach Natural Resources's previous quarterly dividend of $0.50. Mach Natural Resources's dividend payout ratio (DPR) is presently 197.50%.

Insider Buying and Selling at Mach Natural Resources

In related news, Director William Wallace Mcmullen bought 144,900 shares of the business's stock in a transaction that occurred on Monday, June 16th. The stock was acquired at an average price of $14.96 per share, for a total transaction of $2,167,704.00. Following the transaction, the director directly owned 74,812,939 shares of the company's stock, valued at $1,119,201,567.44. This represents a 0.19% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Over the last quarter, insiders purchased 525,529 shares of company stock worth $7,588,638. 87.80% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Mach Natural Resources

Several hedge funds and other institutional investors have recently modified their holdings of MNR. Parallel Advisors LLC lifted its position in shares of Mach Natural Resources by 100.0% during the 1st quarter. Parallel Advisors LLC now owns 2,000 shares of the company's stock worth $31,000 after buying an additional 1,000 shares during the period. Chung Wu Investment Group LLC bought a new position in shares of Mach Natural Resources during the 2nd quarter worth approximately $38,000. State of Wyoming bought a new position in shares of Mach Natural Resources during the 1st quarter worth approximately $108,000. Hudson Valley Investment Advisors Inc. ADV bought a new position in shares of Mach Natural Resources during the 2nd quarter worth approximately $144,000. Finally, Arrow Investment Advisors LLC bought a new position in shares of Mach Natural Resources during the 2nd quarter worth approximately $156,000. Institutional investors own 78.36% of the company's stock.

About Mach Natural Resources

(Get Free Report)

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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