Mach Natural Resources (MNR) Projected to Post Earnings on Thursday

Mach Natural Resources (NYSE:MNR) is anticipated to announce its earnings results after the market closes on Thursday, March 13th. Analysts expect the company to announce earnings of $0.48 per share and revenue of $242.30 million for the quarter.

Mach Natural Resources Stock Down 0.6 %

Shares of MNR opened at $13.76 on Friday. Mach Natural Resources has a 52 week low of $13.53 and a 52 week high of $21.19. The company has a quick ratio of 1.16, a current ratio of 1.24 and a debt-to-equity ratio of 0.56. The stock has a market capitalization of $1.42 billion, a P/E ratio of 5.50 and a beta of -0.79. The business has a 50-day moving average of $16.71.

Mach Natural Resources Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 13th. Shareholders of record on Thursday, February 27th will be given a dividend of $0.50 per share. The ex-dividend date is Thursday, February 27th. This represents a $2.00 dividend on an annualized basis and a yield of 14.53%. Mach Natural Resources’s dividend payout ratio is currently 80.00%.

Analyst Ratings Changes

A number of equities analysts have issued reports on MNR shares. Stifel Nicolaus increased their price target 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. Truist Financial increased their target price on Mach Natural Resources from $23.00 to $24.00 and gave the company a “buy” rating in a report on Monday, January 13th. Finally, Raymond James reissued a “strong-buy” rating and set a $25.00 target price (up previously from $23.00) on shares of Mach Natural Resources in a report on Monday, February 10th.

Insiders Place Their Bets

In related news, Director William Wallace Mcmullen bought 5,161,290 shares of the firm’s stock in a transaction that occurred on Friday, February 7th. The stock was purchased at an average cost of $15.50 per share, for a total transaction of $79,999,995.00. Following the completion of the acquisition, the director now owns 74,287,410 shares in the company, valued at approximately $1,151,454,855. This trade represents a 7.47 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 87.80% of the stock is owned by insiders.

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.