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

Mach Natural Resources (NYSE:MNR) is anticipated to announce its earnings results 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. Investors that wish to register for the company’s conference call can do so using this link.

Mach Natural Resources Price Performance

MNR stock opened at $14.09 on Wednesday. Mach Natural Resources has a 1 year low of $13.53 and a 1 year high of $21.19. The company has a market capitalization of $1.46 billion, a P/E ratio of 5.64 and a beta of -0.40. The business has a 50-day moving average of $16.49. The company has a current ratio of 1.24, a quick ratio of 1.16 and a debt-to-equity ratio of 0.56.

Mach Natural Resources Cuts Dividend

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

Insiders Place Their Bets

In other news, Director William Wallace Mcmullen purchased 5,161,290 shares of the business’s stock in a transaction dated Friday, February 7th. The shares were purchased at an average price of $15.50 per share, for a total transaction of $79,999,995.00. Following the completion of the acquisition, the director now directly owns 74,287,410 shares in the company, valued at $1,151,454,855. This represents a 7.47 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 87.80% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on MNR shares. 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 note on Monday, January 13th. Raymond James reissued a “strong-buy” rating and issued a $25.00 price target (up from $23.00) on shares of Mach Natural Resources in a research note on Monday, February 10th. Finally, Stifel Nicolaus upped their price objective 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.

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.