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

Mach Natural Resources (NYSE:MNR) is expected to be posting its quarterly earnings results 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. Parties that wish to listen to the company’s conference call can do so using this link.

Mach Natural Resources Stock Performance

Shares of NYSE:MNR opened at $13.58 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 debt-to-equity ratio of 0.56, a current ratio of 1.24 and a quick ratio of 1.16. The firm has a market cap of $1.61 billion, a P/E ratio of 7.15 and a beta of -0.40. The firm has a 50-day moving average price of $15.63.

Mach Natural Resources Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 13th. Stockholders of record on Thursday, February 27th were given a $0.50 dividend. The ex-dividend date of this dividend was Thursday, February 27th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 14.73%. Mach Natural Resources’s payout ratio is 105.26%.

Insider Buying and Selling

In other Mach Natural Resources news, Director William Wallace Mcmullen purchased 5,161,290 shares of the stock in a transaction that occurred on Friday, February 7th. The shares were acquired at an average cost of $15.50 per share, with a total value of $79,999,995.00. Following the completion of the transaction, the director now owns 74,287,410 shares in the company, valued at $1,151,454,855. The trade was a 7.47 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 87.80% of the stock is currently owned by insiders.

Analyst Ratings Changes

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

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.