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

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.

Mach Natural Resources (NYSE:MNR - Get Free Report) was downgraded by Wall Street Zen from a "buy" rating to a "hold" rating in a research report issued to clients and investors on Saturday.

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 opened at $15.08 on Friday. Mach Natural Resources has a 52-week low of $12.40 and a 52-week high of $20.94. The company has a quick ratio of 0.61, a current ratio of 0.69 and a debt-to-equity ratio of 0.33. The company has a market cap of $1.78 billion, a P/E ratio of 9.43 and a beta of -0.07. The firm's 50-day moving average price is $14.35 and its 200-day moving average price is $14.91.

Mach Natural Resources (NYSE:MNR - Get Free Report) last posted its quarterly 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 for the quarter, compared to analysts' expectations 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, equities analysts anticipate that Mach Natural Resources will post 1.95 EPS for the current fiscal year.

Insider Buying and Selling at Mach Natural Resources

In other news, Director William Wallace Mcmullen acquired 144,900 shares of the company's stock in a transaction dated Monday, June 16th. The shares were acquired at an average price of $14.96 per share, with a total value of $2,167,704.00. Following the purchase, the director directly owned 74,812,939 shares of the company's stock, valued at $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 accessible through this hyperlink. Insiders have acquired a total of 525,529 shares of company stock valued at $7,588,638 in the last quarter. 87.80% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Mach Natural Resources

Several institutional investors and hedge funds have recently added to or reduced their stakes in MNR. Parallel Advisors LLC boosted its holdings in Mach Natural Resources by 100.0% in 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 last quarter. Chung Wu Investment Group LLC acquired a new stake in Mach Natural Resources in the 2nd quarter worth about $38,000. State of Wyoming acquired a new stake in Mach Natural Resources in the 1st quarter worth about $108,000. Hudson Valley Investment Advisors Inc. ADV acquired a new stake in Mach Natural Resources in the 2nd quarter worth about $144,000. Finally, Arrow Investment Advisors LLC acquired a new stake in Mach Natural Resources in the 2nd quarter worth about $156,000. 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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