Mach Natural Resources (NYSE:MNR) Cut to “Strong Sell” at Zacks Research

Mach Natural Resources (NYSE:MNR) was downgraded by stock analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a research report issued on Monday,Zacks.com reports.

Several other equities research analysts also recently commented on MNR. Weiss Ratings downgraded shares of Mach Natural Resources from a “hold (c)” rating to a “hold (c-)” rating in a report on Monday, May 18th. Truist Financial started coverage on Mach Natural Resources in a research report on Tuesday, March 24th. They set a “hold” rating and a $14.00 price target on the stock. Wall Street Zen downgraded shares of Mach Natural Resources from a “buy” rating to a “hold” rating in a report on Sunday, May 10th. Stephens set a $20.00 price objective on shares of Mach Natural Resources in a research report on Monday. Finally, Raymond James Financial boosted their price objective on shares of Mach Natural Resources from $18.00 to $19.00 and gave the company a “strong-buy” rating in a research note on Tuesday. Two analysts have rated the stock with a Strong Buy rating, two have given a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $18.20.

Mach Natural Resources Stock Performance

Shares of MNR opened at $13.10 on Monday. The firm has a market cap of $2.20 billion, a PE ratio of 17.01 and a beta of -0.27. The stock’s fifty day moving average price is $13.30 and its two-hundred day moving average price is $12.86. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.83 and a quick ratio of 0.73. Mach Natural Resources has a 1 year low of $10.46 and a 1 year high of $15.58.

Mach Natural Resources (NYSE:MNR) last posted its quarterly earnings results on Thursday, May 7th. The company reported $0.74 earnings per share for the quarter, topping the consensus estimate of $0.51 by $0.23. The company had revenue of $286.00 million during the quarter, compared to the consensus estimate of $397.61 million. Mach Natural Resources had a return on equity of 18.46% and a net margin of 7.46%. On average, equities research analysts forecast that Mach Natural Resources will post 1.64 EPS for the current year.

Hedge Funds Weigh In On Mach Natural Resources

Hedge funds and other institutional investors have recently modified their holdings of the company. Goldman Sachs Group Inc. raised its holdings in shares of 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 valued at $59,320,000 after buying an additional 2,084,511 shares in the last quarter. First Trust Advisors LP purchased a new stake in Mach Natural Resources in the second quarter worth approximately $7,630,000. Jane Street Group LLC purchased a new stake in Mach Natural Resources in the second quarter worth approximately $1,931,000. Cooksen Wealth LLC grew 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 valued at $38,000 after acquiring an additional 1,230 shares during the last quarter. Finally, Osaic Holdings Inc. grew its position in Mach Natural Resources by 208.5% during the second quarter. Osaic Holdings Inc. now owns 8,302 shares of the company’s stock valued at $120,000 after acquiring an additional 5,611 shares during the last quarter. 78.36% of the stock is currently owned by hedge funds and other institutional investors.

About Mach Natural Resources

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.