Mach Natural Resources (MNR) Expected to Announce 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. Investors that are interested in registering for the company’s conference call can do so using this link.

Mach Natural Resources Stock Performance

Shares of NYSE:MNR opened at $13.58 on Friday. The firm has a 50 day moving average price of $15.63. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.24 and a quick ratio of 1.16. The company has a market capitalization of $1.61 billion, a P/E ratio of 7.15 and a beta of -0.40. Mach Natural Resources has a 52 week low of $13.53 and a 52 week high of $21.19.

Mach Natural Resources Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 13th. Shareholders of record on Thursday, February 27th were paid a $0.50 dividend. The ex-dividend date of this dividend was Thursday, February 27th. This represents a $2.00 dividend on an annualized basis and a yield of 14.73%. Mach Natural Resources’s payout ratio is 105.26%.

Insider Buying and Selling

In other Mach Natural Resources news, Director William Wallace Mcmullen bought 5,161,290 shares of Mach Natural Resources stock in a transaction that occurred on Friday, February 7th. The stock was acquired at an average price of $15.50 per share, for a total transaction of $79,999,995.00. Following the completion of the acquisition, the director now 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 position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 87.80% of the stock is owned by corporate insiders.

Analyst Ratings Changes

MNR has been the subject of several research analyst reports. Raymond James reiterated a “strong-buy” rating and issued a $25.00 price objective (up from $23.00) on shares of Mach Natural Resources in a research report on Monday, February 10th. Truist Financial upped their price target 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. Finally, Stifel Nicolaus raised their price objective on shares of Mach Natural Resources from $21.00 to $23.00 and gave the stock a “buy” rating in a report on Friday, February 7th.

About Mach Natural Resources

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.