Mach Natural Resources (NYSE:MNR) Hits New 52-Week Low – Should You Sell?

Mach Natural Resources LP (NYSE:MNR) reached a new 52-week low during trading on Monday . The stock traded as low as $12.40 and last traded at $12.63, with a volume of 97900 shares. The stock had previously closed at $13.60.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on MNR shares. Truist Financial boosted their target price on shares of Mach Natural Resources from $23.00 to $24.00 and gave the stock a “buy” rating in a research note on Monday, January 13th. Raymond James reaffirmed a “strong-buy” rating and set a $25.00 price objective (up from $23.00) on shares of Mach Natural Resources in a research report on Monday, February 10th. Finally, Stifel Nicolaus raised their target price on Mach Natural Resources from $21.00 to $23.00 and gave the stock a “buy” rating in a research report on Friday, February 7th.

Mach Natural Resources Trading Down 0.9 %

The stock has a market cap of $1.59 billion, a P/E ratio of 7.14 and a beta of -0.44. The company has a 50 day simple moving average of $15.63. The company has a current ratio of 1.24, a quick ratio of 1.16 and a debt-to-equity ratio of 0.56.

Mach Natural Resources Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 13th. Stockholders of record on Thursday, February 27th were issued a $0.50 dividend. The ex-dividend date was Thursday, February 27th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 14.85%. Mach Natural Resources’s dividend payout ratio is presently 105.26%.

Insider Buying and Selling at Mach Natural Resources

In related news, Director William Wallace Mcmullen purchased 5,161,290 shares of the business’s stock in a transaction dated Friday, February 7th. The stock was bought at an average cost of $15.50 per share, with a total value of $79,999,995.00. Following the completion of the acquisition, the director now directly owns 74,287,410 shares in the company, valued at $1,151,454,855. The trade was a 7.47 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 87.80% of the stock is currently owned by corporate insiders.

Institutional Trading of Mach Natural Resources

Hedge funds have recently bought and sold shares of the company. Novem Group purchased a new position in shares of Mach Natural Resources during the 4th quarter worth $241,000. Susquehanna Fundamental Investments LLC acquired a new stake in Mach Natural Resources in the 4th quarter worth about $364,000. Stifel Financial Corp grew its holdings in Mach Natural Resources by 23.6% in the 4th quarter. Stifel Financial Corp now owns 295,080 shares of the company’s stock valued at $5,069,000 after buying an additional 56,306 shares during the period. XTX Topco Ltd grew its holdings in Mach Natural Resources by 11.5% in the 4th quarter. XTX Topco Ltd now owns 13,003 shares of the company’s stock valued at $223,000 after buying an additional 1,341 shares during the period. Finally, Rockefeller Capital Management L.P. lifted its holdings in shares of Mach Natural Resources by 10.9% during the 4th quarter. Rockefeller Capital Management L.P. now owns 30,610 shares of the company’s stock worth $526,000 after acquiring an additional 3,000 shares during the period. Institutional investors and hedge funds own 78.36% of the company’s stock.

Mach Natural Resources Company Profile

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.