Mach Natural Resources (MNR) to Release Earnings on Monday

Mach Natural Resources (NYSE:MNR) will likely be issuing its quarterly earnings data before the market opens on Monday, April 7th. Analysts expect the company to announce 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 Stock Down 11.0 %

NYSE MNR opened at $13.58 on Friday. 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 has a fifty-two week low of $13.53 and a fifty-two week high of $21.19. The business has a fifty day moving average of $15.63. The firm has a market capitalization of $1.61 billion, a PE ratio of 7.15 and a beta of -0.40.

Mach Natural Resources Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 13th. Investors of record on Thursday, February 27th were given a dividend of $0.50 per share. The ex-dividend date of this dividend was Thursday, February 27th. This represents a $2.00 dividend on an annualized basis and a yield of 14.73%. Mach Natural Resources’s dividend payout ratio (DPR) is currently 105.26%.

Insiders Place Their Bets

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

Wall Street Analysts Forecast Growth

Several analysts have commented on the company. Stifel Nicolaus lifted their price target on Mach Natural Resources from $21.00 to $23.00 and gave the company a “buy” rating in a report on Friday, February 7th. Truist Financial boosted their target price on shares of 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 reaffirmed a “strong-buy” rating and set a $25.00 price target (up previously from $23.00) on shares of Mach Natural Resources in a research report on Monday, February 10th.

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.