Mach Natural Resources (NYSE:MNR) Insider Buys $506,550.00 in Stock

Key Points

• Insider Tom Ward bought 55,000 shares for $506,550 at an average price of $9.21, increasing his stake by 0.41% to about 13.52 million shares.
• Mach reported quarterly EPS of $0.34, slightly above the $0.33 estimate, but revenue of $319.24 million fell short of the $352.43 million consensus.
• The company cut its quarterly dividend from $0.36 to $0.22 per share, equivalent to an annualized $0.88 and a stated 9.7% yield.

Mach Natural Resources LP (NYSE:MNR - Get Free Report) insider Tom Ward bought 55,000 shares of the company's stock in a transaction dated Monday, November 9th. The stock was purchased at an average cost of $9.21 per share, for a total transaction of $506,550.00. Following the completion of the transaction, the insider owned 13,522,452 shares of the company's stock, valued at $124,541,782.92. This represents a 0.41% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Mach Natural Resources Trading Down 0.3%

Mach Natural Resources stock opened at $9.10 on Thursday. The company's fifty day simple moving average is $10.83 and its 200-day simple moving average is $12.57. The company has a quick ratio of 0.76, a current ratio of 0.79 and a debt-to-equity ratio of 0.63. Mach Natural Resources LP has a 12 month low of $8.93 and a 12 month high of $15.02. The stock has a market cap of $1.55 billion, a P/E ratio of 4.83 and a beta of -0.23.

Mach Natural Resources (NYSE:MNR - Get Free Report) last announced its quarterly earnings results on Thursday, November 5th. The company reported $0.34 EPS for the quarter, beating the consensus estimate of $0.33 by $0.01. Mach Natural Resources had a return on equity of 16.47% and a net margin of 10.48%. The company had revenue of $319.24 million for the quarter, compared to the consensus estimate of $352.43 million. As a group, sell-side analysts forecast that Mach Natural Resources LP will post 1.70 EPS for the current fiscal year.

Mach Natural Resources Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, November 30th. Investors of record on Monday, November 16th will be given a dividend of $0.22 per share. This is a drop from Mach Natural Resources's previous quarterly dividend of $0.36. The ex-dividend date is Monday, November 16th. This represents a $0.88 annualized dividend and a dividend yield of 9.7%. Mach Natural Resources's dividend payout ratio is 154.84%.

Institutional Trading of Mach Natural Resources

Institutional investors have recently made changes to their positions in the business. Boston Partners increased its stake in Mach Natural Resources by 447.1% in the 3rd quarter. Boston Partners now owns 116,779 shares of the company's stock valued at $1,196,000 after buying an additional 95,435 shares during the last quarter. Royce & Associates LP grew its holdings in shares of Mach Natural Resources by 80.7% in the 3rd quarter. Royce & Associates LP now owns 810,784 shares of the company's stock valued at $8,302,000 after acquiring an additional 362,178 shares in the last quarter. Granville Capital Inc. increased its position in shares of Mach Natural Resources by 144.0% in the third quarter. Granville Capital Inc. now owns 58,188 shares of the company's stock valued at $596,000 after acquiring an additional 34,342 shares during the last quarter. Arrow Investment Advisors LLC increased its position in shares of Mach Natural Resources by 34.4% in the third quarter. Arrow Investment Advisors LLC now owns 22,486 shares of the company's stock valued at $230,000 after acquiring an additional 5,756 shares during the last quarter. Finally, Chicago Partners Investment Group LLC increased its position in shares of Mach Natural Resources by 8.2% in the third quarter. Chicago Partners Investment Group LLC now owns 255,778 shares of the company's stock valued at $2,780,000 after acquiring an additional 19,474 shares during the last quarter. Institutional investors own 78.36% of the company's stock.

Analysts Set New Price Targets

A number of research firms recently commented on MNR. Wall Street Zen lowered Mach Natural Resources from a "buy" rating to a "hold" rating in a research report on Saturday, November 7th. Weiss Ratings downgraded shares of Mach Natural Resources from a "hold (c)" rating to a "hold (c-)" rating in a research report on Wednesday, September 16th. Citigroup reaffirmed an "outperform" rating on shares of Mach Natural Resources in a research note on Monday, August 10th. Capital One Financial began coverage on Mach Natural Resources in a research report on Friday, September 4th. They issued an "overweight" rating and a $16.00 price target on the stock. Finally, Zacks Research upgraded Mach Natural Resources from a "strong sell" rating to a "hold" rating in a report on Monday, October 19th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $16.67.

Mach Natural Resources Company Profile

Mach Natural Resources LP is an independent oil and natural gas company focused on acquiring, developing and producing energy resources. Its operations include oil, natural gas and natural gas liquids, with activity concentrated in the Anadarko and Arkoma basins in the Mid-Continent region. The company became publicly traded in 2023. Its chief executive officer is Tom L. Ward, an energy-industry executive and co-founder of Mach Resources.

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