Mach Natural Resources (MNR) to Release Earnings on Monday

Mach Natural Resources (NYSE:MNR) will likely be announcing its earnings results before the market opens on Monday, April 7th. 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 Price Performance

NYSE:MNR opened at $15.37 on Monday. 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 has a 1-year low of $13.53 and a 1-year high of $21.19. The business has a 50-day simple moving average of $15.91. The stock has a market capitalization of $1.82 billion, a price-to-earnings ratio of 8.09 and a beta of -0.40.

Mach Natural Resources Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 13th. Stockholders of record on Thursday, February 27th were issued a $0.50 dividend. The ex-dividend date of this dividend was Thursday, February 27th. This represents a $2.00 annualized dividend and a dividend yield of 13.01%. Mach Natural Resources’s dividend payout ratio is currently 105.26%.

Insider Transactions at Mach Natural Resources

In other Mach Natural Resources news, Director William Wallace Mcmullen acquired 5,161,290 shares of the stock in a transaction dated Friday, February 7th. The stock was purchased at an average price of $15.50 per share, with a total value of $79,999,995.00. Following the transaction, the director now directly owns 74,287,410 shares of the company’s stock, valued at $1,151,454,855. This trade represents a 7.47 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 87.80% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on MNR shares. Truist Financial lifted their price objective on shares of Mach Natural Resources from $23.00 to $24.00 and gave the company a “buy” rating in a report on Monday, January 13th. Stifel Nicolaus lifted their price target 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, Raymond James restated a “strong-buy” rating and set a $25.00 price objective (up from $23.00) on shares of Mach Natural Resources in a research note on Monday, February 10th.

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.