Mach Natural Resources (NYSE:MNR) Upgraded by Wall Street Zen to Buy Rating

Wall Street Zen upgraded shares of Mach Natural Resources (NYSE:MNR) from a hold rating to a buy rating in a research note issued to investors on Saturday morning.

Several other research firms have also weighed in on MNR. Citigroup reiterated an “outperform” rating on shares of Mach Natural Resources in a report on Monday, August 10th. Raymond James Financial boosted their price target on shares of Mach Natural Resources from $18.00 to $19.00 and gave the company a “strong-buy” rating in a report on Tuesday, July 14th. Northland Securities set a $17.00 price objective on shares of Mach Natural Resources in a research report on Monday, August 10th. Weiss Ratings raised Mach Natural Resources from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday. Finally, Zacks Research raised Mach Natural Resources from a “strong sell” rating to a “hold” rating in a research note on Tuesday, August 11th. Two investment analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Mach Natural Resources has an average rating of “Moderate Buy” and a consensus price target of $17.60.

Mach Natural Resources Stock Performance

Shares of MNR stock opened at $13.01 on Friday. The stock has a market cap of $2.17 billion, a PE ratio of 22.05 and a beta of -0.31. The stock has a 50-day moving average of $13.00 and a 200-day moving average of $13.20. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.88 and a quick ratio of 0.73. Mach Natural Resources has a one year low of $10.46 and a one year high of $15.02.

Mach Natural Resources Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, August 31st. Stockholders of record on Monday, August 17th will be issued a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 11.1%. The ex-dividend date is Monday, August 17th. Mach Natural Resources’s payout ratio is 244.07%.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. Avior Wealth Management LLC acquired a new stake in Mach Natural Resources in the 2nd quarter valued at approximately $253,000. Royal Bank of Canada boosted its position in Mach Natural Resources by 42.8% during the 1st quarter. Royal Bank of Canada now owns 13,882 shares of the company’s stock worth $194,000 after acquiring an additional 4,164 shares during the last quarter. CENTRAL TRUST Co grew its stake in shares of Mach Natural Resources by 384.7% during the 1st 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. Gunpowder Capital Management LLC dba Oliver Wealth Management bought a new position in shares of Mach Natural Resources during the 4th quarter worth approximately $42,000. Finally, Alpine Global Management LLC acquired a new stake in shares of Mach Natural Resources in the fourth quarter valued at approximately $178,000. 78.36% of the stock is currently owned by 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.