Key Points
- Major shareholder General Partner S.A R.L. Ikav sold 5,557,679 shares of Mach Natural Resources (NYSE:MNR) on April 8 at an average price of $12.81, raising about $71.19 million and reducing its stake by 56.61% to 4,259,110 shares.
- Mach increased its quarterly dividend from $0.27 to $0.53 (annualized $2.12), a ~16.7% yield, though the payout ratio is ~189%, which could raise sustainability concerns.
- The company beat quarterly estimates (EPS $0.43 vs $0.26 expected; revenue $387.5M vs $357.3M) and carries an average analyst rating of "Moderate Buy" with an average price target of $18.50.
Mach Natural Resources LP (NYSE:MNR - Get Free Report) major shareholder General Partner S.A R.L. Ikav sold 5,557,679 shares of the company's stock in a transaction dated Wednesday, April 8th. The stock was sold at an average price of $12.81, for a total transaction of $71,193,867.99. Following the sale, the insider directly owned 4,259,110 shares in the company, valued at $54,559,199.10. This represents a 56.61% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Large shareholders that own 10% or more of a company's shares are required to disclose their transactions with the SEC.
Mach Natural Resources Price Performance
Shares of Mach Natural Resources stock opened at $12.68 on Friday. The company has a current ratio of 1.05, a quick ratio of 0.93 and a debt-to-equity ratio of 0.58. The stock has a market capitalization of $2.13 billion, a price-to-earnings ratio of 11.32 and a beta of -0.35. Mach Natural Resources LP has a 1-year low of $10.46 and a 1-year high of $15.60. The firm's 50-day moving average price is $13.26 and its two-hundred day moving average price is $12.35.
Mach Natural Resources (NYSE:MNR - Get Free Report) last issued its quarterly earnings data on Thursday, March 12th. The company reported $0.43 earnings per share for the quarter, topping the consensus estimate of $0.26 by $0.17. Mach Natural Resources had a net margin of 12.16% and a return on equity of 16.91%. The firm had revenue of $387.54 million for the quarter, compared to analysts' expectations of $357.31 million. On average, equities analysts predict that Mach Natural Resources LP will post 1.95 earnings per share for the current fiscal year.
Mach Natural Resources Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 12th. Investors of record on Thursday, February 26th were given a $0.53 dividend. This is a boost from Mach Natural Resources's previous quarterly dividend of $0.27. The ex-dividend date was Thursday, February 26th. This represents a $2.12 annualized dividend and a yield of 16.7%. Mach Natural Resources's dividend payout ratio is presently 189.29%.
Hedge Funds Weigh In On Mach Natural Resources
Hedge funds and other institutional investors have recently bought and sold shares of the business. CWM LLC bought a new position in Mach Natural Resources in the third quarter valued at approximately $27,000. Cooksen Wealth LLC boosted its stake in Mach Natural Resources by 87.5% in the second quarter. Cooksen Wealth LLC now owns 2,635 shares of the company's stock valued at $38,000 after acquiring an additional 1,230 shares during the last quarter. Hilton Head Capital Partners LLC bought a new position in Mach Natural Resources in the fourth quarter valued at approximately $31,000. Gunpowder Capital Management LLC dba Oliver Wealth Management bought a new position in Mach Natural Resources in the fourth quarter valued at approximately $42,000. Finally, Kestra Advisory Services LLC bought a new position in Mach Natural Resources in the fourth quarter valued at approximately $44,000. 78.36% of the stock is owned by institutional investors.
Wall Street Analyst Weigh In
A number of brokerages have commented on MNR. Wall Street Zen upgraded Mach Natural Resources from a "buy" rating to a "strong-buy" rating in a research report on Saturday, April 4th. Stifel Nicolaus decreased their price objective on Mach Natural Resources from $22.00 to $18.00 and set a "buy" rating on the stock in a research report on Tuesday, January 6th. Truist Financial began coverage on Mach Natural Resources in a research report on Tuesday, March 24th. They issued a "hold" rating and a $14.00 price objective on the stock. KeyCorp reiterated a "sector weight" rating on shares of Mach Natural Resources in a research report on Friday, January 16th. Finally, Weiss Ratings upgraded Mach Natural Resources from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Monday, March 16th. Two research analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating and four have issued a Hold rating to the company's stock. According to data from MarketBeat.com, Mach Natural Resources presently has an average rating of "Moderate Buy" and an average price target of $18.50.
Check Out Our Latest Research Report on Mach Natural Resources
Mach Natural Resources Company Profile
(
Get Free Report)
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. The company was incorporated in 2023 and is headquartered in Oklahoma City, Oklahoma.
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