Mach Natural Resources (NYSE:MNR) Downgraded to “Strong Sell” Rating by Zacks Research

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

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

Mach Natural Resources Stock Performance

NYSE:MNR opened at $13.10 on Monday. The company has a fifty day moving average of $13.30 and a 200-day moving average of $12.86. The firm has a market capitalization of $2.20 billion, a P/E ratio of 17.01 and a beta of -0.27. The company has a quick ratio of 0.73, a current ratio of 0.83 and a debt-to-equity ratio of 0.61. Mach Natural Resources has a twelve month low of $10.46 and a twelve month high of $15.58.

Mach Natural Resources (NYSE:MNR) last issued its earnings results on Thursday, May 7th. The company reported $0.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.51 by $0.23. The business had revenue of $286.00 million for the quarter, compared to analyst estimates of $397.61 million. Mach Natural Resources had a net margin of 7.46% and a return on equity of 18.46%. As a group, sell-side analysts anticipate that Mach Natural Resources will post 1.64 EPS for the current year.

Institutional Investors Weigh In On Mach Natural Resources

Several large investors have recently made changes to their positions in the business. Goldman Sachs Group Inc. boosted its holdings in shares of Mach Natural Resources by 120.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 3,814,782 shares of the company’s stock worth $59,320,000 after buying an additional 2,084,511 shares during the last quarter. CIBC Bancorp USA Inc. purchased a new stake in Mach Natural Resources during the third quarter worth about $7,926,000. First Trust Advisors LP purchased a new stake in Mach Natural Resources during the second quarter worth about $7,630,000. &PARTNERS raised its position in Mach Natural Resources by 454.1% in the fourth quarter. &PARTNERS now owns 270,833 shares of the company’s stock worth $2,980,000 after acquiring an additional 221,958 shares during the period. Finally, ING Groep NV raised its position in Mach Natural Resources by 23.1% in the fourth quarter. ING Groep NV now owns 1,018,000 shares of the company’s stock worth $11,239,000 after acquiring an additional 191,000 shares during the period. 78.36% of the stock is 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.