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

Zacks Research lowered shares of Mach Natural Resources (NYSE:MNR) from a hold rating to a strong sell rating in a report issued on Monday morning,Zacks reports.

Other equities research analysts also recently issued reports about the company. Weiss Ratings upgraded Mach Natural Resources from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday, August 11th. Northland Securities set a $17.00 price objective on Mach Natural Resources in a research note on Monday, August 10th. Wall Street Zen raised shares of Mach Natural Resources from a “hold” rating to a “buy” rating in a report on Saturday, August 15th. Capital One Financial assumed coverage on shares of Mach Natural Resources in a research note on Friday, September 4th. They set an “overweight” rating and a $16.00 target price for the company. Finally, Stephens set a $20.00 target price on shares of Mach Natural Resources in a report on Monday, July 13th. Two research analysts have rated the stock with a Strong Buy rating, three have given a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $16.83.

Mach Natural Resources Trading Down 10.5%

Shares of NYSE MNR opened at $11.18 on Monday. The stock’s 50 day moving average price is $12.90 and its two-hundred day moving average price is $13.20. Mach Natural Resources has a 52-week low of $10.46 and a 52-week high of $15.02. The stock has a market capitalization of $1.87 billion, a P/E ratio of 18.94 and a beta of -0.32. 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 business also recently declared a quarterly dividend, which was paid on Monday, August 31st. Stockholders of record on Monday, August 17th were given a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 12.9%. The ex-dividend date was Monday, August 17th. Mach Natural Resources’s dividend payout ratio is presently 244.07%.

Institutional Trading of Mach Natural Resources

Hedge funds have recently made changes to their positions in the stock. Hilton Head Capital Partners LLC bought a new position in Mach Natural Resources during the 4th quarter worth $31,000. Gunpowder Capital Management LLC dba Oliver Wealth Management bought a new stake in Mach Natural Resources in the fourth quarter valued at $42,000. CENTRAL TRUST Co lifted its stake in Mach Natural Resources by 384.7% in the first quarter. CENTRAL TRUST Co now owns 4,992 shares of the company’s stock valued at $70,000 after buying an additional 3,962 shares during the last quarter. Alpine Global Management LLC acquired a new position in shares of Mach Natural Resources during the fourth quarter valued at $178,000. Finally, Royal Bank of Canada boosted its holdings in shares of 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 during the period. Institutional investors own 78.36% of the company’s stock.

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.