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

Mach Natural Resources (NYSE:MNR - Get Free Report) will likely be releasing its earnings data 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. Persons that are interested in registering for the company's earnings conference call can do so using this link.

Mach Natural Resources Stock Performance

MNR traded down $0.41 on Thursday, hitting $15.24. The company had a trading volume of 180,795 shares, compared to its average volume of 202,350. The stock has a market cap of $1.80 billion, a PE ratio of 8.02 and a beta of -0.40. The company has a fifty day simple moving average of $15.72. Mach Natural Resources has a 12-month low of $13.53 and a 12-month 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.

Mach Natural Resources Cuts Dividend

The company 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. This represents a $2.00 dividend on an annualized basis and a dividend yield of 13.13%. The ex-dividend date of this dividend was Thursday, February 27th. Mach Natural Resources's payout ratio is currently 105.26%.

Insiders Place Their Bets

In other news, Director William Wallace Mcmullen purchased 5,161,290 shares of the stock in a transaction on 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 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 position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 87.80% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

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

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.