Mach Natural Resources (NYSE:MNR) Director Purchases $248,895.00 in Stock

Key Points

• Director William McMullen purchased 22,124 Mach Natural Resources shares at an average price of $11.25, a transaction valued at $248,895. He also acquired an additional 12,390 shares worth $140,007 on the same day.
• Mach Natural Resources shares recently traded at $10.96, near the lower end of their 52-week range. The company pays an annualized dividend of $1.44, yielding 13.1%, though its payout ratio is elevated at 244.07%.
• Analysts maintain a consensus “Moderate Buy” rating, with an average price target of $16.83 versus the recent share price. Institutional investors own approximately 78.36% of the company.

Mach Natural Resources LP (NYSE:MNR - Get Free Report) Director William McMullen purchased 22,124 shares of the business's stock in a transaction on Tuesday, September 15th. The shares were bought at an average price of $11.25 per share, for a total transaction of $248,895.00. Following the acquisition, the director owned 22,124 shares in the company, valued at $248,895. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

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

• On Tuesday, September 15th, William McMullen acquired 12,390 shares of Mach Natural Resources stock. The stock was bought at an average price of $11.30 per share, with a total value of $140,007.00.

Mach Natural Resources Stock Up 0.6%

Shares of Mach Natural Resources stock traded up $0.07 on Thursday, reaching $10.96. 1,627,851 shares of the company were exchanged, compared to its average volume of 563,799. The stock's 50 day moving average price is $12.86 and its 200-day moving average price is $13.18. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.88 and a quick ratio of 0.76. Mach Natural Resources LP has a 1-year low of $10.46 and a 1-year high of $15.02. The company has a market cap of $1.83 billion, a P/E ratio of 18.58 and a beta of -0.32.

Mach Natural Resources Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 31st. Shareholders of record on Monday, August 17th were given a $0.36 dividend. The ex-dividend date of this dividend was Monday, August 17th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 13.1%. Mach Natural Resources's dividend payout ratio is currently 244.07%.

Wall Street Analysts Forecast Growth

MNR has been the topic of a number of analyst reports. Capital One Financial initiated coverage on Mach Natural Resources in a research note on Friday, September 4th. They issued an "overweight" rating and a $16.00 price target on the stock. Wall Street Zen upgraded Mach Natural Resources from a "hold" rating to a "buy" rating in a research note on Saturday, August 15th. Raymond James Financial upped their price target on Mach Natural Resources from $18.00 to $19.00 and gave the company a "strong-buy" rating in a report on Tuesday, July 14th. Northland Securities set a $17.00 price objective on shares of Mach Natural Resources in a report on Monday, August 10th. Finally, Stephens set a $20.00 price objective on shares of Mach Natural Resources in a research report on Monday, July 13th. Two investment analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, Mach Natural Resources presently has a consensus rating of "Moderate Buy" and a consensus price target of $16.83.

Institutional Trading of Mach Natural Resources

Institutional investors and hedge funds have recently made changes to their positions in the company. Wedbush Securities Inc. increased its position in Mach Natural Resources by 3.2% during the second quarter. Wedbush Securities Inc. now owns 29,167 shares of the company's stock worth $369,000 after buying an additional 913 shares during the period. Hilton Head Capital Partners LLC acquired a new stake in shares of Mach Natural Resources in the fourth quarter valued at approximately $31,000. Gunpowder Capital Management LLC dba Oliver Wealth Management purchased a new position in shares of Mach Natural Resources during the fourth quarter worth approximately $42,000. CENTRAL TRUST Co grew its position in shares of Mach Natural Resources by 384.7% during the first quarter. CENTRAL TRUST Co now owns 4,992 shares of the company's stock worth $70,000 after acquiring an additional 3,962 shares during the last quarter. Finally, Royal Bank of Canada increased its holdings in shares of Mach Natural Resources by 42.8% in the 1st quarter. Royal Bank of Canada now owns 13,882 shares of the company's stock valued at $194,000 after acquiring an additional 4,164 shares during the period. 78.36% of the stock is owned by hedge funds and other institutional investors.

About Mach Natural Resources

Mach Natural Resources LP is an independent oil and natural gas company focused on the acquisition, development and operation of producing properties in the Anadarko Basin of western Oklahoma. The company's operations are concentrated in a resource-rich region with established infrastructure and long-standing oil and gas activity.

Mach Natural Resources' production includes crude oil, natural gas and natural gas liquids. Its activities span the exploration and development of wells, production operations, and the management of related gathering and infrastructure assets.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.