Mach Natural Resources LP (MNR) To Go Ex-Dividend on May 21st

Mach Natural Resources LP (NYSE:MNR) declared a quarterly dividend on Thursday, May 7th. Stockholders of record on Thursday, May 21st will be paid a dividend of 0.64 per share on Thursday, June 4th. This represents a c) dividend on an annualized basis and a dividend yield of 17.3%. The ex-dividend date of this dividend is Thursday, May 21st. This is a 20.8% increase from Mach Natural Resources’s previous quarterly dividend of $0.53.

Mach Natural Resources has a dividend payout ratio of 115.3% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect Mach Natural Resources to earn $1.47 per share next year, which means the company may not be able to cover its $2.56 annual dividend with an expected future payout ratio of 174.1%.

Mach Natural Resources Stock Performance

Shares of MNR stock opened at $14.76 on Tuesday. The business’s fifty day simple moving average is $13.54 and its 200-day simple moving average is $12.48. The company has a market cap of $2.48 billion, a PE ratio of 19.17 and a beta of -0.33. The company has a current ratio of 0.83, a quick ratio of 0.73 and a debt-to-equity ratio of 0.61. Mach Natural Resources has a 12-month low of $10.46 and a 12-month high of $15.60.

Mach Natural Resources (NYSE:MNR) last issued its quarterly earnings results on Thursday, May 7th. The company reported $0.74 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.51 by $0.23. The business had revenue of $286.00 million for the quarter, compared to the consensus estimate of $397.61 million. Mach Natural Resources had a return on equity of 18.46% and a net margin of 7.46%. Analysts expect that Mach Natural Resources will post 1.54 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on MNR. Weiss Ratings raised Mach Natural Resources from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, April 27th. Truist Financial began coverage on Mach Natural Resources in a research report on Tuesday, March 24th. They set a “hold” rating and a $14.00 price target on the stock. Wall Street Zen downgraded Mach Natural Resources from a “buy” rating to a “hold” rating in a research report on Sunday, May 10th. Finally, Zacks Research raised Mach Natural Resources from a “hold” rating to a “strong-buy” rating in a research report on Monday, April 20th. Three analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Mach Natural Resources presently has an average rating of “Buy” and an average target price of $18.50.

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