Mach Natural Resources (MNR) to Release Quarterly Earnings on Monday

Mach Natural Resources (NYSE:MNR) is expected to be releasing its earnings data before the market opens on Monday, April 7th. Analysts expect Mach Natural Resources to post earnings of $0.48 per share and revenue of $242.30 million for the quarter. Persons that wish to listen to the company’s earnings conference call can do so using this link.

Mach Natural Resources Price Performance

Shares of MNR stock opened at $15.37 on Monday. The stock has a market capitalization of $1.82 billion, a P/E ratio of 8.09 and a beta of -0.40. Mach Natural Resources has a 1 year low of $13.53 and a 1 year high of $21.19. The company’s 50 day moving average is $15.91. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.16 and a current ratio of 1.24.

Mach Natural Resources Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 13th. Investors of record on Thursday, February 27th were issued a dividend of $0.50 per share. The ex-dividend date was Thursday, February 27th. This represents a $2.00 annualized dividend and a yield of 13.01%. Mach Natural Resources’s payout ratio is presently 105.26%.

Analyst Ratings Changes

MNR has been the subject of several recent analyst reports. Truist Financial lifted their price objective 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. Stifel Nicolaus lifted their price target on shares of Mach Natural Resources from $21.00 to $23.00 and gave the stock a “buy” rating in a research note on Friday, February 7th. Finally, Raymond James reissued a “strong-buy” rating and issued a $25.00 price objective (up from $23.00) on shares of Mach Natural Resources in a research report on Monday, February 10th.

Insider Activity at Mach Natural Resources

In related news, Director William Wallace Mcmullen acquired 5,161,290 shares of the firm’s stock in a transaction that occurred on Friday, February 7th. The stock was bought at an average price of $15.50 per share, for a total transaction of $79,999,995.00. Following the acquisition, the director now directly owns 74,287,410 shares of the company’s stock, valued at $1,151,454,855. This represents a 7.47 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. 87.80% of the stock is owned by company insiders.

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.