Mach Natural Resources LP (NYSE:MNR) Director William Wallace Mcmullen Purchases 93,500 Shares

Mach Natural Resources LP (NYSE:MNR - Get Free Report) Director William Wallace Mcmullen purchased 93,500 shares of the stock in a transaction on Thursday, June 12th. The shares were acquired at an average price of $14.29 per share, for a total transaction of $1,336,115.00. Following the transaction, the director now directly owns 74,532,539 shares of the company's stock, valued at $1,065,069,982.31. This represents a 0.13% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

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

• On Wednesday, June 11th, William Wallace Mcmullen bought 72,411 shares of Mach Natural Resources stock. The stock was acquired at an average cost 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 bought at an average price of $13.58 per share, for a total transaction of $1,075,780.44.

Mach Natural Resources Price Performance

MNR traded up $0.24 during trading hours on Friday, reaching $14.66. The company's stock had a trading volume of 983,710 shares, compared to its average volume of 238,133. The stock has a market cap of $1.73 billion, a PE ratio of 9.16 and a beta of -0.17. Mach Natural Resources LP has a fifty-two week low of $12.40 and a fifty-two week high of $20.94. The company has a current ratio of 1.24, a quick ratio of 1.16 and a debt-to-equity ratio of 0.56. The business has a 50-day moving average of $13.64.

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

Mach Natural Resources Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 5th. Stockholders of record on Thursday, May 22nd were paid a $0.79 dividend. The ex-dividend date of this dividend was Thursday, May 22nd. This is a boost from Mach Natural Resources's previous quarterly dividend of $0.50. This represents a $3.16 dividend on an annualized basis and a dividend yield of 21.56%. Mach Natural Resources's payout ratio is presently 197.50%.

Institutional Investors Weigh In On Mach Natural Resources

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