Mach Natural Resources LP (NYSE:MNR) Receives $20.00 Consensus PT from Analysts

Shares of Mach Natural Resources LP (NYSE:MNR) have received an average recommendation of “Moderate Buy” from the seven brokerages that are covering the firm, Marketbeat.com reports. Three research analysts have rated the stock with a hold rating, two have issued a buy rating and two have assigned a strong buy rating to the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $20.00.

Several research analysts recently commented on the company. KeyCorp reissued a “sector weight” rating on shares of Mach Natural Resources in a research note on Friday, January 16th. Zacks Research upgraded Mach Natural Resources from a “strong sell” rating to a “hold” rating in a research note on Monday, March 16th. Weiss Ratings raised Mach Natural Resources from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday, March 16th. Stifel Nicolaus cut their target price on shares of Mach Natural Resources from $22.00 to $18.00 and set a “buy” rating on the stock in a research note on Tuesday, January 6th. Finally, Wall Street Zen raised shares of Mach Natural Resources from a “hold” rating to a “buy” rating in a report on Saturday.

Mach Natural Resources Price Performance

Mach Natural Resources stock opened at $13.85 on Friday. The company has a quick ratio of 0.93, a current ratio of 1.05 and a debt-to-equity ratio of 0.58. Mach Natural Resources has a 52-week low of $10.46 and a 52-week high of $15.91. The firm has a market cap of $2.33 billion, a PE ratio of 12.36 and a beta of -0.24. The company’s 50 day moving average is $12.54 and its two-hundred day moving average is $12.34.

Mach Natural Resources (NYSE:MNR) last posted its quarterly earnings results on Thursday, March 12th. The company reported $0.43 EPS for the quarter, topping the consensus estimate of $0.26 by $0.17. The business had revenue of $387.54 million during the quarter, compared to the consensus estimate of $357.31 million. Mach Natural Resources had a net margin of 12.16% and a return on equity of 16.91%. On average, research analysts expect that Mach Natural Resources will post 1.95 EPS for the current fiscal year.

Mach Natural Resources Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 12th. Stockholders of record on Thursday, February 26th were issued a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a dividend yield of 15.3%. The ex-dividend date was Thursday, February 26th. This is a positive change from Mach Natural Resources’s previous quarterly dividend of $0.27. Mach Natural Resources’s dividend payout ratio (DPR) is 189.29%.

Hedge Funds Weigh In On Mach Natural Resources

Several large investors have recently bought and sold shares of MNR. Kayne Anderson Capital Advisors LP purchased a new position in shares of Mach Natural Resources in the 3rd quarter valued at $252,892,000. Goldman Sachs Group Inc. lifted its position in Mach Natural Resources by 120.5% in the first quarter. Goldman Sachs Group Inc. now owns 3,814,782 shares of the company’s stock valued at $59,320,000 after acquiring an additional 2,084,511 shares during the last quarter. CIBC Bancorp USA Inc. purchased a new stake in Mach Natural Resources in the third quarter valued at $7,926,000. First Trust Advisors LP acquired a new position in Mach Natural Resources in the second quarter valued at $7,630,000. Finally, Clear Street Group Inc. acquired a new position in Mach Natural Resources in the third quarter valued at $5,638,000. Hedge funds and other institutional investors own 78.36% of the company’s stock.

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.