Mach Natural Resources LP (MNR) to Distribute Quarterly Dividend of $0.22 on November 30th

Mach Natural Resources LP (NYSE:MNR) announced a quarterly dividend on Thursday, November 5th. Investors of record on Monday, November 16th will be given a dividend of $0.22 per share on Monday, November 30th. This represents a $0.88 dividend on an annualized basis and a yield of 9.8%. The ex-dividend date of this dividend is Monday, November 16th. This is a 38.9% decrease from Mach Natural Resources’s previous quarterly dividend of $0.36.

Mach Natural Resources has a dividend payout ratio of 64.9% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Mach Natural Resources to earn $1.41 per share next year, which means the company may not be able to cover its $1.44 annual dividend with an expected future payout ratio of 102.1%.

Mach Natural Resources Stock Down 9.6%

Shares of NYSE MNR opened at $8.99 on Friday. The business has a 50-day moving average price of $11.03 and a 200 day moving average price of $12.60. The company has a quick ratio of 0.76, a current ratio of 0.88 and a debt-to-equity ratio of 0.63. The stock has a market cap of $1.50 billion, a PE ratio of 9.66 and a beta of -0.23. Mach Natural Resources has a 52-week low of $8.93 and a 52-week high of $15.02.

Mach Natural Resources (NYSE:MNR) last issued its earnings results on Thursday, November 5th. The company reported $0.34 earnings per share for the quarter, beating analysts’ consensus estimates of $0.33 by $0.01. Mach Natural Resources had a return on equity of 16.06% and a net margin of 7.44%. The company had revenue of $319.24 million for the quarter, compared to the consensus estimate of $352.43 million. Equities research analysts forecast that Mach Natural Resources will post 1.84 earnings per share for the current year.

Analyst Upgrades and Downgrades

MNR has been the subject of several analyst reports. Citigroup reiterated an “outperform” rating on shares of Mach Natural Resources in a report on Monday, August 10th. Wall Street Zen downgraded Mach Natural Resources from a “buy” rating to a “hold” rating in a report on Saturday. Zacks Research raised Mach Natural Resources from a “strong sell” rating to a “hold” rating in a report on Monday, October 19th. Stephens set a $20.00 price objective on shares of Mach Natural Resources in a research report on Monday, July 13th. Finally, Weiss Ratings downgraded shares of Mach Natural Resources from a “hold (c)” rating to a “hold (c-)” rating in a research note on Wednesday, September 16th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $16.67.

Mach Natural Resources Company Profile

Mach Natural Resources LP is an independent oil and natural gas company focused on the acquisition, development and production of oil, natural gas and natural gas liquids. The company’s operations are concentrated in the Anadarko Basin of the Mid-Continent region.

Mach’s assets are primarily located in Western Oklahoma, with additional interests in surrounding areas of the Anadarko Basin, including parts of the Texas Panhandle and southern Kansas. Its activities include drilling and completing wells, operating producing properties and managing associated gathering and processing infrastructure.

The company was formed by Mach Resources and its affiliates and became a publicly traded limited partnership in 2023.