Mach Natural Resources (NYSE:MNR) Upgraded by Zacks Research to “Hold” Rating

Zacks Research upgraded shares of Mach Natural Resources (NYSE:MNR) from a strong sell rating to a hold rating in a research report sent to investors on Tuesday,Zacks.com reports.

Several other analysts also recently issued reports on MNR. Weiss Ratings raised shares of Mach Natural Resources from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday. Northland Securities set a $17.00 price objective on shares of Mach Natural Resources in a report on Monday. Raymond James Financial upped their price target on Mach Natural Resources from $18.00 to $19.00 and gave the company a “strong-buy” rating in a research report on Tuesday, July 14th. Stephens set a $20.00 price objective on shares of Mach Natural Resources in a report on Monday, July 13th. Finally, Citigroup reaffirmed an “outperform” rating on shares of Mach Natural Resources in a report on Monday. Two analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $17.60.

Mach Natural Resources Stock Down 0.4%

NYSE:MNR opened at $13.10 on Tuesday. The business’s fifty day moving average price is $13.03 and its 200 day moving average price is $13.19. The company has a current ratio of 0.83, a quick ratio of 0.73 and a debt-to-equity ratio of 0.61. The firm has a market capitalization of $2.19 billion, a price-to-earnings ratio of 22.20 and a beta of -0.31. Mach Natural Resources has a 1-year low of $10.46 and a 1-year high of $15.02.

Mach Natural Resources Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, August 31st. Shareholders of record on Monday, August 17th will be paid a dividend of $0.36 per share. The ex-dividend date is Monday, August 17th. This represents a $1.44 annualized dividend and a yield of 11.0%. Mach Natural Resources’s dividend payout ratio is presently 244.07%.

Hedge Funds Weigh In On Mach Natural Resources

Several large investors have recently modified their holdings of the business. Hilton Head Capital Partners LLC bought a new position in shares of Mach Natural Resources during the 4th quarter worth about $31,000. Cooksen Wealth LLC increased its holdings in Mach Natural Resources by 87.5% in the 2nd quarter. Cooksen Wealth LLC now owns 2,635 shares of the company’s stock worth $38,000 after acquiring an additional 1,230 shares during the last quarter. Gunpowder Capital Management LLC dba Oliver Wealth Management purchased a new position in shares of Mach Natural Resources in the fourth quarter worth about $42,000. Kestra Advisory Services LLC bought a new stake in shares of Mach Natural Resources in the fourth quarter valued at approximately $44,000. Finally, CENTRAL TRUST Co lifted its position in shares of Mach Natural Resources by 384.7% during the first quarter. CENTRAL TRUST Co now owns 4,992 shares of the company’s stock worth $70,000 after acquiring an additional 3,962 shares in the last quarter. 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. The company was incorporated in 2023 and is headquartered in Oklahoma City, Oklahoma.