Mach Natural Resources LP (NYSE:MNR) Stock Has Average Target Price of $16.33 According to Brokerages

by · The Markets Daily

Shares of Mach Natural Resources LP (NYSE:MNR – Get Free Report) have earned an average recommendation of “Moderate Buy” from the nine ratings firms that are covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, three have issued a hold rating, three have issued a buy rating and two have given a strong buy rating to the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $16.33.

A number of brokerages have issued reports on MNR. Raymond James Financial lowered their target price on shares of Mach Natural Resources from $19.00 to $16.00 and set a “strong-buy” rating on the stock in a report on Tuesday. Zacks Research lowered Mach Natural Resources from a “hold” rating to a “strong sell” rating in a report on Monday, September 14th. Stephens set a $20.00 price target on Mach Natural Resources in a research report on Monday, July 13th. Wall Street Zen upgraded Mach Natural Resources from a “hold” rating to a “buy” rating in a research note on Saturday, August 15th. Finally, Northland Securities set a $17.00 price objective on Mach Natural Resources in a research note on Monday, August 10th.

Get Our Latest Analysis on Mach Natural Resources

Insider Activity

In other news, insider Tom L. Ward acquired 172,413 shares of the business’s stock in a transaction dated Monday, September 14th. The stock was bought at an average cost of $11.60 per share, for a total transaction of $1,999,990.80. Following the completion of the transaction, the insider owned 13,467,452 shares of the company’s stock, valued at $156,222,443.20. The trade was a 1.30% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director William McMullen acquired 12,390 shares of the business’s stock in a transaction dated Tuesday, September 15th. The stock was purchased at an average price of $11.30 per share, with a total value of $140,007.00. Following the completion of the transaction, the director directly owned 74,872,307 shares of the company’s stock, valued at $846,057,069.10. This trade represents a 0.02% increase in their position. The SEC filing for this purchase provides additional information. Over the last quarter, insiders have bought 206,927 shares of company stock worth $2,388,893. Company insiders own 87.80% of the company’s stock.

Institutional Trading of Mach Natural Resources

A number of hedge funds and other institutional investors have recently bought and sold shares of MNR. Hilton Head Capital Partners LLC purchased a new stake in Mach Natural Resources in the 4th quarter worth approximately $31,000. Gunpowder Capital Management LLC dba Oliver Wealth Management purchased a new position in shares of Mach Natural Resources during the 4th quarter valued at $42,000. CENTRAL TRUST Co grew its position in shares of Mach Natural Resources by 384.7% during the 1st quarter. CENTRAL TRUST Co now owns 4,992 shares of the company’s stock valued at $70,000 after purchasing an additional 3,962 shares in the last quarter. Alpine Global Management LLC purchased a new position in shares of Mach Natural Resources during the 4th quarter valued at $178,000. Finally, Royal Bank of Canada increased its holdings in shares of Mach Natural Resources by 42.8% in the first quarter. Royal Bank of Canada now owns 13,882 shares of the company’s stock worth $194,000 after purchasing an additional 4,164 shares during the period. Institutional investors own 78.36% of the company’s stock.

Mach Natural Resources Stock Performance

Shares of MNR stock opened at $10.29 on Thursday. The firm’s 50 day moving average is $12.24 and its 200 day moving average is $12.96. The stock has a market capitalization of $1.72 billion, a P/E ratio of 17.43 and a beta of -0.22. Mach Natural Resources has a 12 month low of $10.15 and a 12 month high of $15.02. The company has a current ratio of 0.88, a quick ratio of 0.76 and a debt-to-equity ratio of 0.63.

Mach Natural Resources Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, August 31st. Shareholders of record on Monday, August 17th were issued a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 14.0%. The ex-dividend date of this dividend was Monday, August 17th. This is a drop from Mach Natural Resources’s previous quarterly dividend of $0.64. Mach Natural Resources’s payout ratio is presently 244.07%.

About Mach Natural Resources

(Get Free Report)

Mach Natural Resources LP is an independent oil and natural gas company engaged in the acquisition, development, and production of oil, natural gas, and natural gas liquids. The company focuses on operated assets in the Anadarko Basin of Western Oklahoma, where it develops conventional and unconventional reserves.

Mach’s operations include drilling, completing, and producing wells, as well as managing related gathering and midstream infrastructure. Its production portfolio is centered on crude oil, natural gas, and natural gas liquids sold into regional and broader U.S.

Featured Stories