Mach Natural Resources (NYSE:MNR) Insider Purchases $506,550.00 in Stock

Mach Natural Resources LP (NYSE:MNR) insider Tom Ward bought 55,000 shares of the firm’s stock in a transaction that occurred on Monday, November 9th. The stock was purchased at an average cost of $9.21 per share, with a total value of $506,550.00. Following the completion of the purchase, the insider directly 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 acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Mach Natural Resources Stock Down 0.3%

Mach Natural Resources stock opened at $9.10 on Thursday. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.79 and a quick ratio of 0.76. The company’s 50-day moving average is $10.83 and its 200-day moving average is $12.57. The firm has a market capitalization of $1.55 billion, a PE ratio of 4.83 and a beta of -0.23. Mach Natural Resources LP has a fifty-two week low of $8.93 and a fifty-two 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 (EPS) for the quarter, beating the consensus estimate of $0.33 by $0.01. The business had revenue of $319.24 million during the quarter, compared to the consensus estimate of $352.43 million. Mach Natural Resources had a net margin of 10.48% and a return on equity of 16.47%. Sell-side analysts anticipate that Mach Natural Resources LP will post 1.70 earnings per share for the current year.

Mach Natural Resources Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, November 30th. Stockholders of record on Monday, November 16th will be paid a dividend of $0.22 per share. The ex-dividend date is Monday, November 16th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 9.7%. This is a drop from Mach Natural Resources’s previous quarterly dividend of $0.36. Mach Natural Resources’s dividend payout ratio is 154.84%.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on MNR. Northland Securities set a $19.00 target price on Mach Natural Resources in a report on Tuesday, October 20th. Weiss Ratings lowered shares of Mach Natural Resources from a “hold (c)” rating to a “hold (c-)” rating in a research report on Wednesday, September 16th. Wall Street Zen cut shares of Mach Natural Resources from a “buy” rating to a “hold” rating in a research note on Saturday, November 7th. Raymond James Financial dropped 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. Finally, Stifel Nicolaus started coverage on Mach Natural Resources in a research report on Thursday, September 10th. They set a “buy” rating and a $15.00 price objective on the stock. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $16.67.

Institutional Investors Weigh In On Mach Natural Resources

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Royal Bank of Canada raised its position in shares of Mach Natural Resources by 42.8% during the first quarter. Royal Bank of Canada now owns 13,882 shares of the company’s stock worth $194,000 after acquiring an additional 4,164 shares during the last quarter. Arrow Investment Advisors LLC lifted its stake in shares of Mach Natural Resources by 34.4% in the third quarter. Arrow Investment Advisors LLC now owns 22,486 shares of the company’s stock worth $230,000 after acquiring an additional 5,756 shares during the period. Avior Wealth Management LLC bought a new stake in Mach Natural Resources in the second quarter valued at approximately $253,000. Novem Group boosted its holdings in Mach Natural Resources by 25.0% in the third quarter. Novem Group now owns 30,000 shares of the company’s stock valued at $307,000 after acquiring an additional 6,000 shares during the last quarter. Finally, Wedbush Securities Inc. increased its position in Mach Natural Resources by 3.2% during the 2nd quarter. Wedbush Securities Inc. now owns 29,167 shares of the company’s stock valued at $369,000 after purchasing an additional 913 shares during the period. Institutional investors and hedge funds own 78.36% of the company’s stock.

About Mach Natural Resources

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.