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

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) announced a dividend on Saturday, August 16th, investing.com reports. Investors of record on Friday, August 22nd will be given a dividend of 0.38 per share on Thursday, September 4th. This represents a dividend yield of 1,057.0%. The ex-dividend date is Thursday, August 21st.

Mach Natural Resources has a dividend payout ratio of 142.3% indicating that 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 Price Performance

Shares of NYSE:MNR opened at $14.39 on Friday. 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 firm has a market cap of $1.70 billion, a price-to-earnings ratio of 7.42 and a beta of -0.07. The business has a 50-day simple moving average of $14.72 and a two-hundred day simple moving average of $14.62. Mach Natural Resources has a fifty-two week low of $12.40 and a fifty-two week high of $20.94.

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

Insider Transactions at Mach Natural Resources

In other news, Director William Wallace Mcmullen purchased 3,085 shares of the company's stock in a transaction on Monday, August 11th. The stock was acquired at an average cost of $14.39 per share, for a total transaction of $44,393.15. Following the completion of the transaction, the director directly owned 74,816,024 shares in the company, valued at $1,076,602,585.36. This trade represents a 0.00% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Over the last ninety days, insiders have purchased 528,614 shares of company stock valued at $7,633,031. Corporate insiders own 87.80% of the company's stock.

Institutional Investors Weigh In On Mach Natural Resources

Institutional investors have recently bought and sold shares of the business. Goldman Sachs Group Inc. lifted 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 worth $59,320,000 after purchasing an additional 2,084,511 shares in the last quarter. American Century Companies Inc. lifted its position in shares of Mach Natural Resources by 4.1% in the second quarter. American Century Companies Inc. now owns 2,578,929 shares of the company's stock worth $37,240,000 after buying an additional 100,574 shares in the last quarter. First Trust Advisors LP bought a new position in Mach Natural Resources during the second quarter valued at approximately $7,630,000. Franklin Resources Inc. grew its holdings in Mach Natural Resources by 115.6% during the 2nd quarter. Franklin Resources Inc. now owns 391,720 shares of the company's stock valued at $5,656,000 after buying an additional 209,993 shares in the last quarter. Finally, Raymond James Financial Inc. grew its holdings in Mach Natural Resources by 8.6% during the 1st quarter. Raymond James Financial Inc. now owns 324,291 shares of the company's stock valued at $5,043,000 after purchasing an additional 25,778 shares during the last quarter. Hedge funds and other institutional investors 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.