Key Points
- Insider Tom Ward bought 55,000 shares at $9.21 each, investing $506,550 and increasing his stake by 0.41% to about 13.52 million shares.
- Mach Natural Resources reported quarterly EPS of $0.34, slightly above estimates, while revenue of $319.24 million fell short of the $352.43 million forecast.
- The company cut its quarterly dividend from $0.36 to $0.22 per share, equivalent to an annualized $0.88 dividend and a stated yield of 9.7%.
Mach Natural Resources LP (NYSE:MNR - Get Free Report) insider Tom Ward acquired 55,000 shares of the business's stock in a transaction that occurred on Monday, November 9th. The shares were purchased at an average price of $9.21 per share, with a total value of $506,550.00. Following the completion of the acquisition, the insider owned 13,522,452 shares of the company's stock, valued at $124,541,782.92. This represents a 0.41% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.
Mach Natural Resources Price Performance
MNR opened at $9.04 on Friday. The stock has a fifty day moving average price of $10.75 and a 200 day moving average price of $12.55. The company has a current ratio of 0.79, a quick ratio of 0.76 and a debt-to-equity ratio of 0.63. Mach Natural Resources LP has a 1 year low of $8.93 and a 1 year high of $15.02. The stock has a market cap of $1.54 billion, a price-to-earnings ratio of 4.81 and a beta of -0.23.
Mach Natural Resources (NYSE:MNR - Get Free Report) last issued its earnings results on Thursday, November 5th. The company reported $0.34 earnings per share for the quarter, topping the consensus estimate of $0.33 by $0.01. Mach Natural Resources had a return on equity of 16.47% and a net margin of 10.48%. The company had revenue of $319.24 million for the quarter, compared to analyst estimates of $352.43 million. Analysts forecast that Mach Natural Resources LP will post 1.70 EPS for the current fiscal year.
Mach Natural Resources Cuts Dividend
The company also recently declared a quarterly dividend, which will be paid on Monday, November 30th. Stockholders of record on Monday, November 16th will be issued a dividend of $0.22 per share. The ex-dividend date is Monday, November 16th. This represents a $0.88 annualized dividend and a dividend yield of 9.7%. This is a negative change from Mach Natural Resources's previous quarterly dividend of $0.36. Mach Natural Resources's dividend payout ratio is presently 154.84%.
Hedge Funds Weigh In On Mach Natural Resources
Several hedge funds have recently bought and sold shares of the business. Royce & Associates LP lifted its position in shares of Mach Natural Resources by 80.7% in the third quarter. Royce & Associates LP now owns 810,784 shares of the company's stock worth $8,302,000 after buying an additional 362,178 shares during the last quarter. Pin Oak Investment Advisors Inc. acquired a new position in shares of Mach Natural Resources during the 2nd quarter valued at about $3,064,000. Boston Partners raised its stake in shares of Mach Natural Resources by 447.1% in the 3rd quarter. Boston Partners now owns 116,779 shares of the company's stock valued at $1,196,000 after acquiring an additional 95,435 shares in the last quarter. First Trust Advisors LP raised its stake in shares of Mach Natural Resources by 7.7% in the 3rd quarter. First Trust Advisors LP now owns 532,428 shares of the company's stock valued at $5,452,000 after acquiring an additional 38,177 shares in the last quarter. Finally, Granville Capital Inc. raised its stake in shares of Mach Natural Resources by 144.0% in the 3rd quarter. Granville Capital Inc. now owns 58,188 shares of the company's stock valued at $596,000 after acquiring an additional 34,342 shares in the last quarter. 78.36% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
Several brokerages recently commented on MNR. Raymond James Financial lowered their price target on Mach Natural Resources from $19.00 to $16.00 and set a "strong-buy" rating for the company in a research note on Tuesday, September 29th. Wall Street Zen lowered shares of Mach Natural Resources from a "buy" rating to a "hold" rating in a research report on Saturday, November 7th. Zacks Research upgraded shares of Mach Natural Resources from a "strong sell" rating to a "hold" rating in a research note on Monday, October 19th. Stifel Nicolaus started coverage on shares of Mach Natural Resources in a research note on Thursday, September 10th. They issued a "buy" rating and a $15.00 target price for the company. Finally, Capital One Financial initiated coverage on shares of Mach Natural Resources in a research report on Friday, September 4th. They issued an "overweight" rating and a $16.00 target price for the company. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $16.67.
Check Out Our Latest Stock Analysis on Mach Natural Resources
About Mach Natural Resources
(
Get Free Report)
Mach Natural Resources LP is an independent oil and natural gas company focused on acquiring, developing and producing energy resources. Its operations include oil, natural gas and natural gas liquids, with activity concentrated in the Anadarko and Arkoma basins in the Mid-Continent region. The company became publicly traded in 2023. Its chief executive officer is Tom L. Ward, an energy-industry executive and co-founder of Mach Resources.
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