Brokerages Set Mach Natural Resources LP (NYSE:MNR) Target Price at $20.00

Shares of Mach Natural Resources LP (NYSE:MNR) have been assigned a consensus recommendation of “Moderate Buy” from the seven ratings firms that are currently covering the firm, MarketBeat.com reports. Two research analysts have rated the stock with a sell recommendation, one has given a hold recommendation, two have issued a buy recommendation and two have issued a strong buy recommendation on the company. The average 1-year price target among brokers that have covered the stock in the last year is $20.00.

A number of brokerages have recently issued reports on MNR. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Mach Natural Resources in a research note on Monday, December 29th. Stifel Nicolaus decreased their price objective on Mach Natural Resources from $22.00 to $18.00 and set a “buy” rating on the stock in a report on Tuesday, January 6th. KeyCorp reaffirmed a “sector weight” rating on shares of Mach Natural Resources in a research note on Friday, January 16th. Northland Securities set a $20.00 target price on shares of Mach Natural Resources in a research report on Monday, November 10th. Finally, Zacks Research downgraded shares of Mach Natural Resources from a “hold” rating to a “strong sell” rating in a research note on Tuesday, January 13th.

Institutional Investors Weigh In On Mach Natural Resources

A number of large investors have recently made changes to their positions in the stock. Cooksen Wealth LLC lifted its position in Mach Natural Resources by 87.5% during the second quarter. Cooksen Wealth LLC now owns 2,635 shares of the company’s stock worth $38,000 after buying an additional 1,230 shares in the last quarter. Arrow Investment Advisors LLC increased its stake in shares of Mach Natural Resources by 12.9% in the 3rd quarter. Arrow Investment Advisors LLC now owns 12,216 shares of the company’s stock worth $161,000 after acquiring an additional 1,400 shares during the last quarter. CWM LLC purchased a new position in shares of Mach Natural Resources during the 3rd quarter worth $27,000. Janney Montgomery Scott LLC raised its holdings in shares of Mach Natural Resources by 20.4% during the 2nd quarter. Janney Montgomery Scott LLC now owns 14,754 shares of the company’s stock worth $213,000 after acquiring an additional 2,500 shares during the period. Finally, Hilton Head Capital Partners LLC acquired a new position in shares of Mach Natural Resources during the 4th quarter valued at about $31,000. 78.36% of the stock is currently owned by hedge funds and other institutional investors.

Mach Natural Resources Trading Up 0.7%

Shares of Mach Natural Resources stock opened at $13.67 on Wednesday. The company has a current ratio of 1.00, a quick ratio of 0.87 and a debt-to-equity ratio of 0.58. Mach Natural Resources has a twelve month low of $10.46 and a twelve month high of $16.34. The firm has a market capitalization of $2.30 billion, a PE ratio of 14.23 and a beta of -0.09. The firm’s 50-day moving average price is $11.66 and its 200 day moving average price is $12.45.

Mach Natural Resources Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 12th. Shareholders of record on Thursday, February 26th will be paid a $0.53 dividend. This is a positive change from Mach Natural Resources’s previous quarterly dividend of $0.27. The ex-dividend date of this dividend is Thursday, February 26th. This represents a $2.12 dividend on an annualized basis and a yield of 15.5%. Mach Natural Resources’s dividend payout ratio is 112.50%.

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.