Mach Natural Resources (NYSE:MNR) Upgraded to “Hold” at Zacks Research

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

MNR has been the topic of several other research reports. KeyCorp restated a “sector weight” rating on shares of Mach Natural Resources in a research note on Friday, January 16th. Stifel Nicolaus lowered their price objective on shares of Mach Natural Resources from $22.00 to $18.00 and set a “buy” rating for the company in a research note on Tuesday, January 6th. Finally, Weiss Ratings upgraded shares of Mach Natural Resources from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday. Two investment analysts have rated the stock with a Strong Buy rating, two have given a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, Mach Natural Resources currently has a consensus rating of “Moderate Buy” and an average target price of $20.00.

Mach Natural Resources Stock Up 2.1%

Shares of NYSE MNR opened at $13.77 on Monday. Mach Natural Resources has a 52-week low of $10.46 and a 52-week high of $15.91. The firm has a market capitalization of $2.32 billion, a price-to-earnings ratio of 12.30 and a beta of -0.24. The stock has a 50 day moving average price of $12.42 and a 200 day moving average price of $12.35. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.93 and a current ratio of 1.05.

Mach Natural Resources (NYSE:MNR) last released its quarterly earnings data on Thursday, March 12th. The company reported $0.43 EPS for the quarter, topping the consensus estimate of $0.26 by $0.17. The company had revenue of $387.54 million for the quarter, compared to the consensus estimate of $357.31 million. Mach Natural Resources had a return on equity of 16.91% and a net margin of 12.16%. Sell-side analysts expect that Mach Natural Resources will post 1.95 earnings per share for the current year.

Institutional Investors Weigh In On Mach Natural Resources

Institutional investors have recently added to or reduced their stakes in the stock. Kayne Anderson Capital Advisors LP bought a new position in Mach Natural Resources in the third quarter worth about $252,892,000. American Century Companies Inc. boosted its holdings in shares of Mach Natural Resources by 4.1% in the 2nd quarter. American Century Companies Inc. now owns 2,578,929 shares of the company’s stock valued at $37,240,000 after buying an additional 100,574 shares in the last quarter. Cooper Creek Partners Management LLC bought a new stake in shares of Mach Natural Resources in the 2nd quarter valued at about $3,487,000. Franklin Resources Inc. grew its position in shares of Mach Natural Resources by 115.6% in the 2nd quarter. Franklin Resources Inc. now owns 391,720 shares of the company’s stock worth $5,656,000 after buying an additional 209,993 shares during the last quarter. Finally, ING Groep NV grew its position in shares of Mach Natural Resources by 85.4% in the 3rd quarter. ING Groep NV now owns 827,000 shares of the company’s stock worth $10,900,000 after buying an additional 381,000 shares during the last quarter. Institutional investors own 78.36% of the company’s stock.

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.