Mach Natural Resources (NYSE:MNR) Sets New 12-Month Low

Mach Natural Resources (NYSE:MNR) hit a new 52-week low at $10.93, closing at $11.3950. Analysts have mixed ratings: some suggest 'Strong Buy', others 'Sell'. The company reported better-than-expected earnings and announced a dividend cut. Hedge funds have adjusted their stakes, with 78.36% ownership. MNR focuses on oil and gas in the Anadarko Basin.

Mach Natural Resources LP (NYSE:MNR - Get Free Report)'s stock price reached a new 52-week low during mid-day trading on Friday . The company traded as low as $10.93 and last traded at $11.3950, with a volume of 258827 shares trading hands. The stock had previously closed at $12.00.

Get Mach Natural Resources alerts:

Wall Street Analysts Forecast Growth

Top Dividend Plays With Strong Analyst Ratings

Several equities research analysts have recently commented on the company. William Blair assumed coverage on Mach Natural Resources in a research note on Monday, August 25th. They set an "outperform" rating for the company. Wall Street Zen downgraded shares of Mach Natural Resources from a "buy" rating to a "hold" rating in a research report on Saturday, July 26th. Northland Securities set a $20.00 target price on shares of Mach Natural Resources in a report on Monday, November 10th. Zacks Research cut shares of Mach Natural Resources from a "hold" rating to a "strong sell" rating in a report on Monday, October 13th. Finally, Northland Capmk upgraded shares of Mach Natural Resources to a "strong-buy" rating in a research report on Monday, October 13th. Two research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and two have given a Sell rating to the company. Based on data from MarketBeat, Mach Natural Resources currently has an average rating of "Moderate Buy" and an average target price of $22.25.

View Our Latest Stock Report on MNR

Mach Natural Resources Price Performance

The firm has a market cap of $1.92 billion, a PE ratio of 5.92 and a beta of -0.11. The company has a current ratio of 0.79, a quick ratio of 0.69 and a debt-to-equity ratio of 0.41. The company has a 50 day moving average price of $12.53 and a 200 day moving average price of $13.68.

Mach Natural Resources (NYSE:MNR - Get Free Report) last released its quarterly earnings data on Thursday, November 6th. The company reported $0.44 earnings per share for the quarter, beating the consensus estimate 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 return on equity of 23.23% and a net margin of 20.83%. On average, sell-side analysts expect that Mach Natural Resources LP will post 1.95 EPS for the current year.

Mach Natural Resources Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 4th. Stockholders of record on Thursday, November 20th will be paid a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 9.5%. The ex-dividend date of this dividend is Thursday, November 20th. Mach Natural Resources's payout ratio is 112.50%.

Hedge Funds Weigh In On Mach Natural Resources

Several hedge funds have recently added to or reduced their stakes in MNR. Pin Oak Investment Advisors Inc. acquired a new position in Mach Natural Resources during the first quarter worth about $3,349,000. XTX Topco Ltd lifted its stake in Mach Natural Resources by 131.5% in the 1st quarter. XTX Topco Ltd now owns 30,107 shares of the company's stock valued at $468,000 after buying an additional 17,104 shares in the last quarter. Chicago Partners Investment Group LLC lifted its stake in Mach Natural Resources by 6.3% in the 1st quarter. Chicago Partners Investment Group LLC now owns 257,462 shares of the company's stock valued at $4,004,000 after buying an additional 15,344 shares in the last quarter. American Century Companies Inc. grew its holdings in Mach Natural Resources by 10.9% during the 1st quarter. American Century Companies Inc. now owns 2,478,355 shares of the company's stock valued at $38,538,000 after buying an additional 244,020 shares during the last quarter. Finally, Raymond James Financial Inc. increased its position in Mach Natural Resources by 8.6% during the first 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. 78.36% of the stock is currently owned by hedge funds and other institutional investors.

About Mach Natural Resources

(Get Free Report)

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.

Should You Invest $1,000 in Mach Natural Resources Right Now?

Before you consider Mach Natural Resources, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Mach Natural Resources wasn't on the list.

While Mach Natural Resources currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.

View The Five Stocks Here

Mach Natural Resources (NYSE:MNR) Sets New 12-Month Low - Time to Sell?