Mach Natural Resources (NYSE:MNR) Issues Quarterly Earnings Results

Mach Natural Resources (NYSE:MNR) released its quarterly earnings results on Thursday. The company reported $0.43 EPS for the quarter, beating analysts’ consensus estimates of $0.26 by $0.17, Zacks reports. Mach Natural Resources had a net margin of 10.40% and a return on equity of 19.47%. The company had revenue of $387.54 million for the quarter, compared to analyst estimates of $357.31 million.

Mach Natural Resources Stock Performance

NYSE MNR traded up $0.05 during midday trading on Friday, hitting $13.48. The company had a trading volume of 357,977 shares, compared to its average volume of 335,596. The firm has a fifty day simple moving average of $12.21 and a two-hundred day simple moving average of $12.37. Mach Natural Resources has a fifty-two week low of $10.46 and a fifty-two week high of $15.91. The company has a quick ratio of 0.87, a current ratio of 1.00 and a debt-to-equity ratio of 0.58. The stock has a market cap of $2.27 billion, a price-to-earnings ratio of 14.05 and a beta of -0.24.

Mach Natural Resources Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 12th. Shareholders of record on Thursday, February 26th were given a $0.53 dividend. The ex-dividend date was Thursday, February 26th. This represents a $2.12 annualized dividend and a yield of 15.7%. This is a positive change from Mach Natural Resources’s previous quarterly dividend of $0.27. Mach Natural Resources’s dividend payout ratio (DPR) is 220.83%.

Institutional Trading of Mach Natural Resources

Several institutional investors have recently modified their holdings of MNR. Stifel Financial Corp grew its holdings in Mach Natural Resources by 1.5% during the 4th quarter. Stifel Financial Corp now owns 231,999 shares of the company’s stock worth $2,561,000 after acquiring an additional 3,472 shares during the last quarter. Invesco Ltd. raised its stake 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 last quarter. Jane Street Group LLC bought a new position in shares of Mach Natural Resources in the second quarter worth about $1,931,000. Janney Montgomery Scott LLC grew its stake in shares of Mach Natural Resources by 644.7% during the fourth quarter. Janney Montgomery Scott LLC now owns 118,069 shares of the company’s stock valued at $1,303,000 after purchasing an additional 102,215 shares during the last quarter. Finally, Raffles Associates LP bought a new stake in shares of Mach Natural Resources during the fourth quarter valued at approximately $1,270,000. Institutional investors and hedge funds own 78.36% of the company’s stock.

Analyst Ratings Changes

MNR has been the topic of a number of research analyst reports. Stifel Nicolaus lowered their target price on shares of Mach Natural Resources from $22.00 to $18.00 and set a “buy” rating on the stock in a research note on Tuesday, January 6th. KeyCorp restated a “sector weight” rating on shares of Mach Natural Resources in a report on Friday, January 16th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Mach Natural Resources in a research report on Monday, December 29th. Finally, Zacks Research lowered Mach Natural Resources from a “hold” rating to a “strong sell” rating in a research note on Tuesday, January 13th. Two analysts have rated the stock with a Strong Buy rating, two have given a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target 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.