Mach Natural Resources LP (MNR) to Issue Quarterly Dividend of $0.50 on March 13th

Mach Natural Resources LP (NYSE:MNR) declared a quarterly dividend on Thursday, February 13th, Wall Street Journal reports. Investors of record on Thursday, February 27th will be given a dividend of 0.50 per share on Thursday, March 13th. This represents a $2.00 annualized dividend and a dividend yield of 12.53%. The ex-dividend date is Thursday, February 27th.

Mach Natural Resources has a dividend payout ratio of 80.0% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. 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 $2.00 annual dividend with an expected future payout ratio of 78.7%.

Mach Natural Resources Stock Performance

Mach Natural Resources stock opened at $15.96 on Tuesday. Mach Natural Resources has a fifty-two week low of $14.46 and a fifty-two week high of $21.19. The firm’s fifty day moving average is $16.99. The stock has a market cap of $1.65 billion, a PE ratio of 6.38 and a beta of -0.79. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.16 and a current ratio of 1.24.

Insider Buying and Selling at Mach Natural Resources

In related news, Director William Wallace Mcmullen bought 5,161,290 shares of the company’s stock in a transaction dated Friday, February 7th. The stock was purchased at an average cost of $15.50 per share, with a total value of $79,999,995.00. Following the transaction, the director now owns 74,287,410 shares in the company, valued at approximately $1,151,454,855. This trade represents a 7.47 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 87.80% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on MNR shares. Truist Financial lifted their price target on Mach Natural Resources from $23.00 to $24.00 and gave the stock a “buy” rating in a research note on Monday, January 13th. Raymond James reissued a “strong-buy” rating and set a $25.00 price target (up from $23.00) on shares of Mach Natural Resources in a research note on Monday, February 10th. Finally, Stifel Nicolaus upped their price target on shares of Mach Natural Resources from $21.00 to $23.00 and gave the company a “buy” rating in a research report on Friday, February 7th.

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.