Mach Natural Resources LP to Issue Quarterly Dividend of $0.50 (NYSE:MNR)

Mach Natural Resources LP (NYSE:MNR) declared a quarterly dividend on Thursday, February 13th, Wall Street Journal reports. Stockholders of record on Thursday, February 27th will be given a dividend of 0.50 per share on Thursday, March 13th. This represents a $2.00 annualized dividend and a dividend yield of 12.53%. The ex-dividend date is Thursday, February 27th.

Mach Natural Resources has a payout ratio of 80.0% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Equities analysts expect Mach Natural Resources to earn $2.54 per share next year, which means the company should continue to be able to cover its $2.00 annual dividend with an expected future payout ratio of 78.7%.

Mach Natural Resources Stock Down 0.4 %

Shares of MNR opened at $15.96 on Tuesday. Mach Natural Resources has a twelve month low of $14.46 and a twelve month high of $21.19. The company has a market capitalization of $1.65 billion, a P/E ratio of 6.38 and a beta of -0.79. The firm’s 50 day moving average price is $16.99. The company has a quick ratio of 1.16, a current ratio of 1.24 and a debt-to-equity ratio of 0.56.

Insider Activity at Mach Natural Resources

In other Mach Natural Resources news, Director William Wallace Mcmullen acquired 5,161,290 shares of the stock in a transaction that occurred on Friday, February 7th. The stock was bought at an average cost of $15.50 per share, with a total value of $79,999,995.00. Following the completion of the purchase, the director now directly 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 acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 87.80% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts recently commented on MNR shares. Raymond James reaffirmed a “strong-buy” rating and issued a $25.00 price objective (up previously from $23.00) on shares of Mach Natural Resources in a report on Monday, February 10th. Truist Financial upped their target price 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. Finally, Stifel Nicolaus lifted their price objective on Mach Natural Resources from $21.00 to $23.00 and gave the stock a “buy” rating in a research note 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.