Mach Natural Resources (NYSE:MNR) Hits New 52-Week Low – Here’s Why

Mach Natural Resources LP (NYSE:MNR) shares hit a new 52-week low during trading on Friday. The company traded as low as $8.89 and last traded at $8.8810, with a volume of 164,643 shares trading hands. The stock had previously closed at $9.02.

Wall Street Analyst Weigh In

Several research analysts have weighed in on MNR shares. Northland Securities set a $19.00 price objective on shares of Mach Natural Resources in a research note on Tuesday, October 20th. Wall Street Zen lowered shares of Mach Natural Resources from a “buy” rating to a “hold” rating in a research note on Saturday, November 7th. Weiss Ratings cut shares of Mach Natural Resources from a “hold (c-)” rating to a “sell (d+)” rating in a report on Thursday. Stifel Nicolaus assumed coverage on shares of Mach Natural Resources in a research note on Thursday, September 10th. They issued a “buy” rating and a $15.00 price target on the stock. Finally, Citigroup reiterated an “outperform” rating on shares of Mach Natural Resources in a report on Monday, August 10th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Mach Natural Resources presently has a consensus rating of “Moderate Buy” and an average target price of $16.67.

Mach Natural Resources Trading Up 0.3%

The company’s 50 day moving average price is $10.75 and its 200 day moving average price is $12.55. The company has a market cap of $1.54 billion, a price-to-earnings ratio of 9.73 and a beta of -0.23. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.76 and a current ratio of 0.79.

Mach Natural Resources (NYSE:MNR) last released its quarterly earnings results on Thursday, November 5th. The company reported $0.34 earnings per share for the quarter, beating analysts’ consensus estimates of $0.33 by $0.01. Mach Natural Resources had a net margin of 10.48% and a return on equity of 16.47%. The business had revenue of $319.24 million for the quarter, compared to the consensus estimate of $352.43 million. Research analysts anticipate that Mach Natural Resources LP will post 1.70 EPS for the current year.

Mach Natural Resources Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 30th. Shareholders of record on Monday, November 16th will be given a dividend of $0.22 per share. The ex-dividend date of this dividend is Monday, November 16th. This is a negative change from Mach Natural Resources’s previous quarterly dividend of $0.36. This represents a $0.88 annualized dividend and a yield of 9.7%. Mach Natural Resources’s dividend payout ratio (DPR) is currently 154.84%.

Insider Buying and Selling at Mach Natural Resources

In related news, insider Tom L. Ward purchased 172,413 shares of Mach Natural Resources stock in a transaction on Monday, September 14th. The stock was bought at an average price of $11.60 per share, with a total value of $1,999,990.80. Following the completion of the transaction, the insider directly owned 13,467,452 shares of the company’s stock, valued at approximately $156,222,443.20. This represents a 1.30% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director William McMullen purchased 22,124 shares of Mach Natural Resources stock in a transaction on Tuesday, September 15th. The stock was bought at an average cost of $11.25 per share, with a total value of $248,895.00. Following the transaction, the director directly owned 22,124 shares of the company’s stock, valued at approximately $248,895. The trade was a ∞ increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have acquired 261,927 shares of company stock worth $2,895,443 over the last three months. Company insiders own 87.80% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. PEAK6 LLC raised its stake in shares of Mach Natural Resources by 170.1% in the 3rd quarter. PEAK6 LLC now owns 854,294 shares of the company’s stock valued at $8,748,000 after acquiring an additional 538,051 shares in the last quarter. Royce & Associates LP boosted its position in Mach Natural Resources by 80.7% during the third quarter. Royce & Associates LP now owns 810,784 shares of the company’s stock worth $8,302,000 after purchasing an additional 362,178 shares during the period. First Trust Advisors LP boosted its position in Mach Natural Resources by 7.7% during the third quarter. First Trust Advisors LP now owns 532,428 shares of the company’s stock worth $5,452,000 after purchasing an additional 38,177 shares during the period. Chicago Partners Investment Group LLC grew its holdings in Mach Natural Resources by 8.2% during the third quarter. Chicago Partners Investment Group LLC now owns 255,778 shares of the company’s stock valued at $2,780,000 after purchasing an additional 19,474 shares during the last quarter. Finally, Pin Oak Investment Advisors Inc. acquired a new position in Mach Natural Resources during the second quarter valued at approximately $3,064,000. Institutional investors and hedge funds own 78.36% of the company’s stock.

About Mach Natural Resources

Mach Natural Resources LP is an independent oil and natural gas company focused on acquiring, developing and producing energy resources. Its operations include oil, natural gas and natural gas liquids, with activity concentrated in the Anadarko and Arkoma basins in the Mid-Continent region. The company became publicly traded in 2023. Its chief executive officer is Tom L. Ward, an energy-industry executive and co-founder of Mach Resources.