Mach Natural Resources LP (NYSE:MNR) Declares Dividend of $0.38

Key Points

• Mach Natural Resources LP has announced a dividend of $0.38 per share, set to be paid on September 4th, with an ex-dividend date of August 21st, resulting in a staggering dividend yield of 1,057.0%.
• The company's dividend payout ratio is currently at 142.3%, indicating reliance on its balance sheet to cover dividend payments, which may lead to sustainability issues in the future.
• Despite robust earnings of $0.76 per share reported last quarter, analysts expect earnings for the next year may not cover the annual dividend, suggesting potential financial pressure moving forward.

Mach Natural Resources LP (NYSE:MNR - Get Free Report) declared a dividend on Saturday, August 16th, investing.com reports. Shareholders of record on Friday, August 22nd will be given a dividend of 0.38 per share on Thursday, September 4th. This represents a yield of 1,057.0%. The ex-dividend date is Thursday, August 21st.

Mach Natural Resources has a dividend payout ratio of 142.3% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect Mach Natural Resources to earn $2.54 per share next year, which means the company may not be able to cover its $3.16 annual dividend with an expected future payout ratio of 124.4%.

Mach Natural Resources Stock Performance

Shares of MNR traded down $0.0150 during midday trading on Thursday, hitting $13.5450. 163,720 shares of the stock traded hands, compared to its average volume of 325,093. Mach Natural Resources has a 1-year low of $12.40 and a 1-year high of $20.85. The firm has a market capitalization of $1.60 billion, a PE ratio of 6.98 and a beta of -0.07. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.69 and a current ratio of 0.79. The business's 50 day moving average price is $14.74 and its two-hundred day moving average price is $14.54.

Mach Natural Resources (NYSE:MNR - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The company reported $0.76 earnings per share for the quarter, beating analysts' consensus estimates of $0.53 by $0.23. Mach Natural Resources had a net margin of 20.83% and a return on equity of 23.23%. The business had revenue of $288.52 million for the quarter, compared to analysts' expectations of $237.56 million. Equities research analysts predict that Mach Natural Resources will post 1.95 EPS for the current fiscal year.

Insiders Place Their Bets

In other Mach Natural Resources news, Director William Wallace Mcmullen purchased 144,900 shares of the company's stock in a transaction dated Monday, June 16th. The shares were bought at an average price of $14.96 per share, with a total value of $2,167,704.00. Following the completion of the transaction, the director directly owned 74,812,939 shares in the company, valued at $1,119,201,567.44. This trade represents a 0.19% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders bought a total of 528,614 shares of company stock valued at $7,633,031 over the last quarter. Corporate insiders own 87.80% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in MNR. Goldman Sachs Group Inc. boosted its stake in Mach Natural Resources by 120.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 3,814,782 shares of the company's stock valued at $59,320,000 after purchasing an additional 2,084,511 shares during the period. First Trust Advisors LP acquired a new position in shares of Mach Natural Resources during the 2nd quarter worth $7,630,000. Raymond James Financial Inc. acquired a new position in Mach Natural Resources in the 4th quarter worth about $5,128,000. American Century Companies Inc. increased its holdings in Mach Natural Resources by 10.9% in the 1st quarter. American Century Companies Inc. now owns 2,478,355 shares of the company's stock worth $38,538,000 after purchasing an additional 244,020 shares in the last quarter. Finally, Cooper Creek Partners Management LLC acquired a new position in Mach Natural Resources in the 2nd quarter worth about $3,487,000. Institutional investors and hedge funds own 78.36% of the company's stock.

About Mach Natural Resources

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.