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

Mach Natural Resources (NYSE:MNR) is expected to be issuing its quarterly earnings data 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. Parties that are interested in registering for the company’s conference call can do so using this link.

Mach Natural Resources Trading Up 1.6 %

Shares of MNR stock opened at $14.09 on Wednesday. Mach Natural Resources has a 12-month low of $13.53 and a 12-month 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 50 day moving average of $16.49. The stock has a market capitalization of $1.46 billion, a PE ratio of 5.64 and a beta of -0.40.

Mach Natural Resources Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 13th. Investors of record on Thursday, February 27th will be issued a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 14.19%. The ex-dividend date is Thursday, February 27th. Mach Natural Resources’s dividend payout ratio is currently 80.00%.

Analyst Upgrades and Downgrades

Several research firms have weighed in on MNR. Raymond James reiterated a “strong-buy” rating and issued a $25.00 price target (up from $23.00) on shares of Mach Natural Resources in a research report on Monday, February 10th. Stifel Nicolaus increased 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 report on Friday, February 7th. Finally, Truist Financial increased their price target on shares of Mach Natural Resources from $23.00 to $24.00 and gave the stock a “buy” rating in a research report on Monday, January 13th.

Insiders Place Their Bets

In other news, Director William Wallace Mcmullen acquired 5,161,290 shares of the firm’s stock in a transaction dated Friday, February 7th. The shares were purchased at an average cost of $15.50 per share, for a total transaction of $79,999,995.00. Following the transaction, the director now directly owns 74,287,410 shares of the company’s stock, valued at approximately $1,151,454,855. This trade represents a 7.47 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 87.80% 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.