Analysts Set Mach Natural Resources LP (NYSE:MNR) Target Price at $22.25

Shares of Mach Natural Resources LP (NYSE:MNR) have received a consensus rating of “Moderate Buy” from the eight ratings firms that are covering the company, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation, four have assigned a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $22.25.

Several research firms recently weighed in on MNR. Weiss Ratings reiterated a “sell (d+)” rating on shares of Mach Natural Resources in a research note on Monday, December 1st. Zacks Research cut Mach Natural Resources from a “hold” rating to a “strong sell” rating in a report on Monday, October 13th. William Blair began coverage on Mach Natural Resources in a research report on Monday, August 25th. They issued an “outperform” rating for the company. KeyCorp assumed coverage on Mach Natural Resources in a report on Wednesday, August 27th. They set an “overweight” rating on the stock. Finally, Northland Capmk upgraded Mach Natural Resources to a “strong-buy” rating in a research report on Monday, October 13th.

Mach Natural Resources Trading Up 0.9%

Shares of MNR stock opened at $12.53 on Friday. Mach Natural Resources has a 1 year low of $10.93 and a 1 year high of $19.00. The firm’s fifty day simple moving average is $12.21 and its 200 day simple moving average is $13.51. The firm has a market capitalization of $2.11 billion, a P/E ratio of 13.05 and a beta of -0.12. The company has a current ratio of 1.00, a quick ratio of 0.87 and a debt-to-equity ratio of 0.58.

Mach Natural Resources (NYSE:MNR) last issued its quarterly earnings results on Thursday, November 6th. The company reported $0.44 earnings per share for the quarter, beating analysts’ consensus estimates of $0.34 by $0.10. The firm had revenue of $272.56 million during the quarter, compared to the consensus estimate of $243.65 million. Mach Natural Resources had a net margin of 10.40% and a return on equity of 19.47%. As a group, sell-side analysts predict that Mach Natural Resources will post 1.95 EPS for the current year.

Mach Natural Resources Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 4th. Shareholders of record on Thursday, November 20th were issued a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 8.6%. The ex-dividend date of this dividend was Thursday, November 20th. Mach Natural Resources’s payout ratio is 112.50%.

Hedge Funds Weigh In On Mach Natural Resources

A number of hedge funds and other institutional investors have recently made changes to their positions in MNR. Raymond James Financial Inc. raised its holdings in shares of Mach Natural Resources by 8.6% in the 1st quarter. Raymond James Financial Inc. now owns 324,291 shares of the company’s stock worth $5,043,000 after buying an additional 25,778 shares in the last quarter. Penn Capital Management Company LLC acquired a new stake in Mach Natural Resources in the 1st quarter valued at $519,000. XTX Topco Ltd grew its position in Mach Natural Resources by 131.5% in the first quarter. XTX Topco Ltd now owns 30,107 shares of the company’s stock valued at $468,000 after acquiring an additional 17,104 shares during the period. American Century Companies Inc. grew its position in Mach Natural Resources by 4.1% in the second quarter. American Century Companies Inc. now owns 2,578,929 shares of the company’s stock valued at $37,240,000 after acquiring an additional 100,574 shares during the period. Finally, Cooper Creek Partners Management LLC acquired a new position in Mach Natural Resources during the second quarter worth $3,487,000. 78.36% of the stock is 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.