Mach Natural Resources (MNR) Projected to Post Quarterly Earnings on Thursday

Mach Natural Resources (NYSE:MNR - Get Free Report) is anticipated to issue 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 Stock Performance

Shares of Mach Natural Resources stock traded down $0.10 during midday trading on Monday, reaching $13.92. 117,041 shares of the company's stock traded hands, compared to its average volume of 347,056. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.16 and a current ratio of 1.24. The company's 50 day moving average is $16.61. The company has a market capitalization of $1.44 billion, a P/E ratio of 5.57 and a beta of -0.40. Mach Natural Resources has a 12 month low of $13.53 and a 12 month high of $21.19.

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 14.37%. The ex-dividend date is Thursday, February 27th. Mach Natural Resources's payout ratio is currently 80.00%.

Analysts Set New Price Targets

MNR has been the topic of several recent research reports. Stifel Nicolaus upped their price target 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. 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, Raymond James reissued a "strong-buy" rating and set a $25.00 price target (up from $23.00) on shares of Mach Natural Resources in a research report on Monday, February 10th.

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Insider Activity

In related news, Director William Wallace Mcmullen acquired 5,161,290 shares of the stock in a transaction that occurred on Friday, February 7th. The shares were bought at an average price of $15.50 per share, for a total transaction of $79,999,995.00. Following the completion of the transaction, the director now directly owns 74,287,410 shares in the company, valued at approximately $1,151,454,855. This trade represents a 7.47 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate 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.