Mach Natural Resources (NYSE:MNR) Hits New 1-Year Low – Should You Sell?

Mach Natural Resources LP (NYSE:MNR) shares hit a new 52-week low on Thursday. The stock traded as low as $10.46 and last traded at $10.6090, with a volume of 138146 shares changing hands. The stock had previously closed at $10.48.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. Northland Securities set a $17.00 price objective on shares of Mach Natural Resources in a research report on Monday, August 10th. Weiss Ratings lowered shares of Mach Natural Resources from a “hold (c)” rating to a “hold (c-)” rating in a report on Wednesday, September 16th. Stifel Nicolaus initiated coverage on shares of Mach Natural Resources in a research note on Thursday, September 10th. They issued a “buy” rating and a $15.00 target price on the stock. Stephens set a $20.00 price target on shares of Mach Natural Resources in a report on Monday, July 13th. Finally, Zacks Research downgraded shares of Mach Natural Resources from a “hold” rating to a “strong sell” rating in a report on Monday, September 14th. Two equities research analysts have rated the stock with a Strong Buy rating, three have given a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $16.83.

Mach Natural Resources Trading Down 1.4%

The stock has a market cap of $1.73 billion, a PE ratio of 17.58 and a beta of -0.32. The company has a current ratio of 0.88, a quick ratio of 0.76 and a debt-to-equity ratio of 0.63. The firm has a fifty day simple moving average of $12.54 and a two-hundred day simple moving average of $13.07.

Mach Natural Resources Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 31st. Investors of record on Monday, August 17th were given a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 13.9%. This is a negative change from Mach Natural Resources’s previous quarterly dividend of $0.64. The ex-dividend date was Monday, August 17th. Mach Natural Resources’s dividend payout ratio (DPR) is currently 244.07%.

Insider Buying and Selling

In related news, Director William McMullen purchased 12,390 shares of the business’s stock in a transaction on Tuesday, September 15th. The stock was acquired at an average price of $11.30 per share, with a total value of $140,007.00. Following the purchase, the director directly owned 74,872,307 shares in the company, valued at approximately $846,057,069.10. This represents a 0.02% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Tom L. Ward purchased 172,413 shares of the firm’s stock in a transaction dated Monday, September 14th. The stock was bought at an average cost of $11.60 per share, for a total transaction of $1,999,990.80. Following the acquisition, the insider directly owned 13,467,452 shares in the company, valued at approximately $156,222,443.20. The trade was a 1.30% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders purchased 206,927 shares of company stock worth $2,388,893 over the last ninety days. 87.80% of the stock is currently owned by insiders.

Institutional Trading of Mach Natural Resources

A number of hedge funds have recently made changes to their positions in the stock. ING Groep NV grew 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 in the last quarter. Pin Oak Investment Advisors Inc. purchased a new stake in Mach Natural Resources during the second quarter valued at about $3,064,000. Tidal Investments LLC lifted its stake in Mach Natural Resources by 94.7% during the second quarter. Tidal Investments LLC now owns 41,112 shares of the company’s stock worth $520,000 after purchasing an additional 19,997 shares during the last quarter. Wedbush Securities Inc. lifted its stake in Mach Natural Resources by 3.2% during the second quarter. Wedbush Securities Inc. now owns 29,167 shares of the company’s stock worth $369,000 after purchasing an additional 913 shares during the last quarter. Finally, Avior Wealth Management LLC bought a new stake in Mach Natural Resources during the second quarter worth about $253,000. 78.36% of the stock is owned by institutional investors.

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.