Insider Buying: Mach Natural Resources LP (NYSE:MNR) Director Purchases 135,500 Shares of Stock

Mach Natural Resources LP (NYSE:MNR - Get Free Report) Director William Wallace Mcmullen bought 135,500 shares of the business's stock in a transaction on Friday, June 13th. The shares were purchased at an average cost of $14.72 per share, for a total transaction of $1,994,560.00. Following the completion of the purchase, the director now owns 74,668,039 shares in the company, valued at approximately $1,099,113,534.08. This trade represents a 0.18% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

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

• On Monday, June 16th, William Wallace Mcmullen purchased 144,900 shares of Mach Natural Resources stock. The stock was bought at an average cost of $14.96 per share, with a total value of $2,167,704.00.
• On Thursday, June 12th, William Wallace Mcmullen acquired 93,500 shares of Mach Natural Resources stock. The stock was bought at an average price of $14.29 per share, for a total transaction of $1,336,115.00.
• On Wednesday, June 11th, William Wallace Mcmullen purchased 72,411 shares of Mach Natural Resources stock. The shares were bought at an average price of $14.01 per share, for a total transaction of $1,014,478.11.
• On Tuesday, June 10th, William Wallace Mcmullen acquired 79,218 shares of Mach Natural Resources stock. The shares were purchased at an average price of $13.58 per share, with a total value of $1,075,780.44.

Mach Natural Resources Trading Up 1.7%

NYSE MNR traded up $0.25 on Tuesday, reaching $14.95. The stock had a trading volume of 606,502 shares, compared to its average volume of 244,075. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.24 and a quick ratio of 1.16. Mach Natural Resources LP has a 1 year low of $12.40 and a 1 year high of $20.94. The firm has a 50 day simple moving average of $13.67. The company has a market capitalization of $1.77 billion, a P/E ratio of 9.34 and a beta of -0.17.

Mach Natural Resources (NYSE:MNR - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The company reported $0.68 EPS for the quarter, missing analysts' consensus estimates of $0.69 by ($0.01). The firm had revenue of $227.00 million during the quarter, compared to analyst estimates of $259.09 million. Mach Natural Resources had a return on equity of 23.58% and a net margin of 25.17%. On average, analysts anticipate that Mach Natural Resources LP will post 1.95 earnings per share for the current fiscal year.

Mach Natural Resources Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 5th. Stockholders of record on Thursday, May 22nd were paid a dividend of $0.79 per share. This is a positive change from Mach Natural Resources's previous quarterly dividend of $0.50. The ex-dividend date was Thursday, May 22nd. This represents a $3.16 annualized dividend and a dividend yield of 21.14%. Mach Natural Resources's dividend payout ratio is 197.50%.

Institutional Investors Weigh In On Mach Natural Resources

Several institutional investors and hedge funds have recently modified their holdings of the business. Signaturefd LLC acquired a new position in Mach Natural Resources during the fourth quarter worth $26,000. Parallel Advisors LLC increased its holdings in shares of Mach Natural Resources by 100.0% during the 1st quarter. Parallel Advisors LLC now owns 2,000 shares of the company's stock valued at $31,000 after acquiring an additional 1,000 shares during the last quarter. Hollencrest Capital Management bought a new position in shares of Mach Natural Resources in the 4th quarter valued at approximately $34,000. Parkside Financial Bank & Trust acquired a new stake in Mach Natural Resources in the 4th quarter worth approximately $43,000. Finally, State of Wyoming bought a new stake in Mach Natural Resources during the first quarter worth approximately $108,000. Institutional investors and hedge funds own 78.36% of the company's stock.

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.

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