Mach Natural Resources LP Plans Quarterly Dividend of $0.27 (NYSE:MNR)

Mach Natural Resources LP (NYSE:MNR) announced a quarterly dividend on Thursday, November 6th. Investors of record on Thursday, November 20th will be paid a dividend of 0.27 per share on Thursday, December 4th. This represents a c) dividend on an annualized basis and a dividend yield of 9.4%. The ex-dividend date is Thursday, November 20th.

Mach Natural Resources has a dividend payout ratio of 68.5% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Mach Natural Resources to earn $2.54 per share next year, which means the company should continue to be able to cover its $1.52 annual dividend with an expected future payout ratio of 59.8%.

Mach Natural Resources Trading Down 4.9%

MNR traded down $0.59 on Friday, hitting $11.49. The company had a trading volume of 310,225 shares, compared to its average volume of 312,669. Mach Natural Resources has a 1 year low of $11.50 and a 1 year high of $19.00. The firm has a market cap of $1.36 billion, a P/E ratio of 5.92 and a beta of -0.11. The company’s fifty day moving average price is $12.94 and its 200 day moving average price is $13.79. The company has a current ratio of 0.79, a quick ratio of 0.69 and a debt-to-equity ratio of 0.41.

Mach Natural Resources (NYSE:MNR) last issued its quarterly earnings data on Thursday, November 6th. The company reported $0.44 EPS for the quarter, topping the consensus estimate of $0.34 by $0.10. The firm had revenue of $272.56 million for the quarter, compared to analyst estimates of $243.65 million. Mach Natural Resources had a net margin of 20.83% and a return on equity of 23.23%. As a group, equities analysts expect that Mach Natural Resources will post 1.95 earnings per share for the current year.

Wall Street Analyst Weigh In

MNR has been the topic of a number of research reports. Raymond James Financial restated a “strong-buy” rating on shares of Mach Natural Resources in a research note on Monday, July 14th. Zacks Research cut Mach Natural Resources from a “hold” rating to a “strong sell” rating in a report on Monday, October 13th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Mach Natural Resources in a research note on Wednesday, October 8th. William Blair began coverage on shares of Mach Natural Resources in a research note on Monday, August 25th. They set an “outperform” rating on the stock. Finally, Northland Securities set a $21.00 price target on shares of Mach Natural Resources in a research report on Tuesday, October 14th. Two investment analysts have rated the stock with a Strong Buy rating, four have given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $22.50.

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.