Insider Buying: Mach Natural Resources (NYSE:MNR) Director Acquires $43,820.45 in Stock

Mach Natural Resources LP (NYSE:MNR) Director William Wallace Mcmullen bought 3,215 shares of the company’s stock in a transaction on Monday, March 23rd. The shares were purchased at an average cost of $13.63 per share, for a total transaction of $43,820.45. Following the transaction, the director owned 74,859,917 shares in the company, valued at approximately $1,020,340,668.71. This represents a 0.00% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

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

• On Friday, March 20th, William Wallace Mcmullen bought 2,500 shares of Mach Natural Resources stock. The stock was acquired at an average cost of $14.00 per share, with a total value of $35,000.00.
• On Thursday, March 19th, William Wallace Mcmullen purchased 3,570 shares of Mach Natural Resources stock. The shares were acquired at an average cost of $14.00 per share, with a total value of $49,980.00.

Mach Natural Resources Stock Performance

Shares of Mach Natural Resources stock opened at $14.01 on Thursday. The business’s fifty day simple moving average is $12.72 and its 200 day simple moving average is $12.34. The company has a current ratio of 1.05, a quick ratio of 0.93 and a debt-to-equity ratio of 0.58. Mach Natural Resources LP has a 12 month low of $10.46 and a 12 month high of $15.91. The firm has a market capitalization of $2.36 billion, a P/E ratio of 12.51 and a beta of -0.24.

Mach Natural Resources (NYSE:MNR) last announced its quarterly earnings data on Thursday, March 12th. The company reported $0.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.26 by $0.17. Mach Natural Resources had a return on equity of 16.91% and a net margin of 12.16%.The firm had revenue of $387.54 million during the quarter, compared to the consensus estimate of $357.31 million. As a group, analysts anticipate that Mach Natural Resources LP will post 1.95 EPS for the current year.

Mach Natural Resources Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 12th. Investors of record on Thursday, February 26th were given a dividend of $0.53 per share. The ex-dividend date was Thursday, February 26th. This is an increase from Mach Natural Resources’s previous quarterly dividend of $0.27. This represents a $2.12 annualized dividend and a yield of 15.1%. Mach Natural Resources’s dividend payout ratio (DPR) is currently 189.29%.

Analysts Set New Price Targets

Several brokerages have commented on MNR. KeyCorp reaffirmed a “sector weight” rating on shares of Mach Natural Resources in a research report on Friday, January 16th. 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. Truist Financial assumed coverage on shares of Mach Natural Resources in a research note on Tuesday. They set a “hold” rating and a $14.00 price target for the company. Weiss Ratings raised shares of Mach Natural Resources from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday, March 16th. Finally, Wall Street Zen upgraded Mach Natural Resources from a “hold” rating to a “buy” rating in a research note on Saturday, March 21st. Two equities research analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $18.50.

Institutional Trading of Mach Natural Resources

Institutional investors have recently modified their holdings of the business. Gunpowder Capital Management LLC dba Oliver Wealth Management bought a new position in Mach Natural Resources in the 4th quarter worth approximately $42,000. Alpine Global Management LLC bought a new stake in Mach Natural Resources during the 4th quarter valued at $178,000. Invesco Ltd. boosted its holdings in shares of Mach Natural Resources by 34.0% in the fourth quarter. Invesco Ltd. now owns 187,723 shares of the company’s stock worth $2,072,000 after acquiring an additional 47,626 shares during the period. Empowered Funds LLC boosted its holdings in shares of Mach Natural Resources by 9.7% in the fourth quarter. Empowered Funds LLC now owns 64,749 shares of the company’s stock worth $715,000 after acquiring an additional 5,734 shares during the period. Finally, Cetera Investment Advisers purchased a new position in shares of Mach Natural Resources in the fourth quarter valued at $121,000. 78.36% of the stock is currently owned by hedge funds and other institutional investors.

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