Mach Natural Resources (NYSE:MNR) Director William Wallace Mcmullen Acquires 3,570 Shares

Mach Natural Resources LP (NYSE:MNR) Director William Wallace Mcmullen bought 3,570 shares of the business’s stock in a transaction on Thursday, March 19th. The shares were bought at an average price of $14.00 per share, for a total transaction of $49,980.00. Following the completion of the acquisition, the director owned 74,854,202 shares of the company’s stock, valued at approximately $1,047,958,828. This represents a 0.00% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website.

William Wallace Mcmullen also recently made the following trade(s):

• On Monday, March 23rd, William Wallace Mcmullen purchased 3,215 shares of Mach Natural Resources stock. The stock was bought at an average cost of $13.63 per share, with a total value of $43,820.45.
• On Friday, March 20th, William Wallace Mcmullen bought 2,500 shares of Mach Natural Resources stock. The shares were bought at an average cost of $14.00 per share, with a total value of $35,000.00.

Mach Natural Resources Stock Performance

Shares of NYSE MNR traded down $0.06 during trading hours on Monday, hitting $13.75. 457,338 shares of the stock were exchanged, compared to its average volume of 347,406. The firm has a market capitalization of $2.31 billion, a P/E ratio of 12.28 and a beta of -0.24. The company’s 50 day moving average is $12.54 and its 200 day moving average is $12.33. Mach Natural Resources LP has a one year low of $10.46 and a one year high of $15.91. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.05 and a quick ratio of 0.93.

Mach Natural Resources (NYSE:MNR) last posted its quarterly earnings data on Thursday, March 12th. The company reported $0.43 EPS for the quarter, topping analysts’ consensus estimates of $0.26 by $0.17. The business had revenue of $387.54 million for the quarter, compared to analyst estimates of $357.31 million. Mach Natural Resources had a return on equity of 16.91% and a net margin of 12.16%. On average, research analysts expect that Mach Natural Resources LP will post 1.95 EPS for the current year.

Mach Natural Resources Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 12th. Investors of record on Thursday, February 26th were paid a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a yield of 15.4%. The ex-dividend date was Thursday, February 26th. This is an increase from Mach Natural Resources’s previous quarterly dividend of $0.27. Mach Natural Resources’s dividend payout ratio is currently 189.29%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Kayne Anderson Capital Advisors LP bought a new stake in shares of Mach Natural Resources in the 3rd quarter valued at approximately $252,892,000. American Century Companies Inc. lifted its position in shares of Mach Natural Resources by 4.1% during the 2nd quarter. American Century Companies Inc. now owns 2,578,929 shares of the company’s stock worth $37,240,000 after buying an additional 100,574 shares during the period. Cooper Creek Partners Management LLC acquired a new stake in Mach Natural Resources in the 2nd quarter valued at $3,487,000. CIBC Bancorp USA Inc. acquired a new stake in Mach Natural Resources in the 3rd quarter valued at $7,926,000. Finally, Franklin Resources Inc. grew its position in Mach Natural Resources by 115.6% in the second quarter. Franklin Resources Inc. now owns 391,720 shares of the company’s stock valued at $5,656,000 after acquiring an additional 209,993 shares during the period. Institutional investors own 78.36% of the company’s stock.

Analysts Set New Price Targets

Several research firms have issued reports on MNR. Stifel Nicolaus decreased their price target on shares of Mach Natural Resources from $22.00 to $18.00 and set a “buy” rating on the stock in a research report on Tuesday, January 6th. Zacks Research raised shares of Mach Natural Resources from a “strong sell” rating to a “hold” rating in a research report on Monday, March 16th. Weiss Ratings upgraded shares of Mach Natural Resources from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday, March 16th. Wall Street Zen raised Mach Natural Resources from a “hold” rating to a “buy” rating in a research report on Saturday. Finally, KeyCorp restated a “sector weight” rating on shares of Mach Natural Resources in a research note on Friday, January 16th. Two investment analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $20.00.

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. The company was incorporated in 2023 and is headquartered in Oklahoma City, Oklahoma.