Mach Natural Resources (NYSE:MNR) Shares Gap Down – Time to Sell?

Mach Natural Resources LP (NYSE:MNR)’s share price gapped down prior to trading on Tuesday . The stock had previously closed at $12.49, but opened at $11.26. Mach Natural Resources shares last traded at $11.1490, with a volume of 2,951,629 shares trading hands.

Wall Street Analyst Weigh In

Several analysts have weighed in on MNR shares. Weiss Ratings raised shares of Mach Natural Resources from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday, August 11th. Stephens set a $20.00 price objective on shares of Mach Natural Resources in a report on Monday, July 13th. Stifel Nicolaus initiated coverage on Mach Natural Resources in a research report on Thursday, September 10th. They set a “buy” rating and a $15.00 price target for the company. Capital One Financial initiated coverage on Mach Natural Resources in a research note on Friday, September 4th. They issued an “overweight” rating and a $16.00 price objective for the company. Finally, Northland Securities set a $17.00 price objective on Mach Natural Resources in a research note on Monday, August 10th. Two equities research 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 stock. Based on data from MarketBeat, Mach Natural Resources currently has an average rating of “Moderate Buy” and a consensus target price of $16.83.

Mach Natural Resources Price Performance

The stock has a market cap of $1.88 billion, a price-to-earnings ratio of 19.13 and a beta of -0.32. The stock’s 50 day moving average price is $12.93 and its two-hundred day moving average price is $13.21. The company has a quick ratio of 0.76, a current ratio of 0.88 and a debt-to-equity ratio of 0.63.

Mach Natural Resources Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, August 31st. Shareholders of record on Monday, August 17th were issued a $0.36 dividend. This represents a $1.44 annualized dividend and a yield of 12.8%. The ex-dividend date of this dividend was Monday, August 17th. Mach Natural Resources’s dividend payout ratio is presently 244.07%.

Institutional Investors Weigh In On Mach Natural Resources

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Tidal Investments LLC lifted its holdings in shares of Mach Natural Resources by 94.7% in the 2nd quarter. Tidal Investments LLC now owns 41,112 shares of the company’s stock valued at $520,000 after buying an additional 19,997 shares during the period. Wedbush Securities Inc. grew its holdings in Mach Natural Resources by 3.2% during the second quarter. Wedbush Securities Inc. now owns 29,167 shares of the company’s stock worth $369,000 after acquiring an additional 913 shares during the period. Pin Oak Investment Advisors Inc. acquired a new stake in Mach Natural Resources during the second quarter worth about $3,064,000. Avior Wealth Management LLC purchased a new position in Mach Natural Resources during the second quarter valued at approximately $253,000. Finally, Royal Bank of Canada raised its position in Mach Natural Resources by 42.8% during the first quarter. Royal Bank of Canada now owns 13,882 shares of the company’s stock valued at $194,000 after acquiring an additional 4,164 shares in the last quarter. 78.36% of the stock is owned by institutional investors and hedge funds.

Mach Natural Resources Company Profile

Mach Natural Resources LP is an independent oil and natural gas company focused on the acquisition, development and operation of producing properties in the Anadarko Basin of western Oklahoma. The company’s operations are concentrated in a resource-rich region with established infrastructure and long-standing oil and gas activity.

Mach Natural Resources’ production includes crude oil, natural gas and natural gas liquids. Its activities span the exploration and development of wells, production operations, and the management of related gathering and infrastructure assets.