Mach Natural Resources (NYSE:MNR) Director William Wallace Mcmullen Buys 3,215 Shares

Key Points

• Director William Wallace Mcmullen bought 3,215 shares on March 23 at $13.63 (total $43,820), adding to recent purchases on March 19 and 20 and leaving him with roughly 74.86 million shares valued at about $1.02 billion.
• The company raised its quarterly dividend to $0.53 (annualized $2.12), implying a 15.4% yield, though the payout ratio is a high 189.29%, which may raise sustainability concerns.
• Mach beat quarterly estimates with $0.43 EPS vs. $0.26 expected and $387.5M revenue vs. $357.3M expected, and analysts hold a consensus "Moderate Buy" rating with a $20 price target.

Mach Natural Resources LP (NYSE:MNR - Get Free Report) Director William Wallace Mcmullen bought 3,215 shares of the firm's stock in a transaction that occurred on Monday, March 23rd. The shares were purchased at an average cost of $13.63 per share, for a total transaction of $43,820.45. Following the acquisition, the director directly owned 74,859,917 shares in the company, valued at $1,020,340,668.71. This trade represents a 0.00% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link.

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

• On Friday, March 20th, William Wallace Mcmullen purchased 2,500 shares of Mach Natural Resources stock. The stock was purchased at an average cost of $14.00 per share, with a total value of $35,000.00.
• On Thursday, March 19th, William Wallace Mcmullen purchased 3,570 shares of Mach Natural Resources stock. The shares were purchased at an average price of $14.00 per share, with a total value of $49,980.00.

Mach Natural Resources Price Performance

Shares of Mach Natural Resources stock traded down $0.06 during trading on Monday, hitting $13.75. The stock had a trading volume of 457,338 shares, compared to its average volume of 347,406. The company has a current ratio of 1.05, a quick ratio of 0.93 and a debt-to-equity ratio of 0.58. Mach Natural Resources LP has a 12 month low of $10.46 and a 12 month high of $15.91. The firm has a market cap of $2.31 billion, a price-to-earnings ratio of 12.28 and a beta of -0.24. The business's 50-day moving average is $12.54 and its 200 day moving average is $12.33.

Mach Natural Resources (NYSE:MNR - Get Free Report) last posted its quarterly earnings data on Thursday, March 12th. The company reported $0.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.26 by $0.17. Mach Natural Resources had a return on equity of 16.91% and a net margin of 12.16%.The company had revenue of $387.54 million during the quarter, compared to analyst estimates of $357.31 million. As a group, sell-side analysts anticipate that Mach Natural Resources LP will post 1.95 earnings per share for the current year.

Mach Natural Resources Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 12th. Stockholders of record on Thursday, February 26th were given a dividend of $0.53 per share. This is a boost from Mach Natural Resources's previous quarterly dividend of $0.27. The ex-dividend date was Thursday, February 26th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 15.4%. Mach Natural Resources's dividend payout ratio is 189.29%.

Institutional Trading of Mach Natural Resources

A number of hedge funds have recently bought and sold shares of MNR. CWM LLC purchased a new stake in Mach Natural Resources in the third quarter worth approximately $27,000. Hilton Head Capital Partners LLC purchased a new position in shares of Mach Natural Resources during the fourth quarter worth approximately $31,000. Cooksen Wealth LLC lifted its holdings in shares of Mach Natural Resources by 87.5% in the 2nd quarter. Cooksen Wealth LLC now owns 2,635 shares of the company's stock worth $38,000 after acquiring an additional 1,230 shares during the last quarter. Gunpowder Capital Management LLC dba Oliver Wealth Management bought a new stake in shares of Mach Natural Resources in the 4th quarter worth approximately $42,000. Finally, Kestra Advisory Services LLC purchased a new stake in shares of Mach Natural Resources in the 4th quarter valued at $44,000. Institutional investors own 78.36% of the company's stock.

Analysts Set New Price Targets

MNR has been the topic of a number of recent analyst reports. Zacks Research raised shares of Mach Natural Resources from a "strong sell" rating to a "hold" rating in a research note on Monday, March 16th. KeyCorp reissued a "sector weight" rating on shares of Mach Natural Resources in a research note on Friday, January 16th. Stifel Nicolaus lowered their price objective on shares of Mach Natural Resources from $22.00 to $18.00 and set a "buy" rating on the stock in a research report on Tuesday, January 6th. Wall Street Zen raised shares of Mach Natural Resources from a "hold" rating to a "buy" rating in a report on Saturday. Finally, Weiss Ratings raised Mach Natural Resources from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Monday, March 16th. Two analysts have rated the stock with a Strong Buy rating, two have given a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $20.00.

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. The company was incorporated in 2023 and is headquartered in Oklahoma City, Oklahoma.

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.