Mach Natural Resources (NYSE:MNR) Sees Large Volume Increase on Insider Buying Activity

Key Points

• Insider purchase: Tom L. Ward acquired 153,256 shares at an average price of $13.05 on April 13 for about $1.999M, raising his holdings to 13,295,039 shares (a 1.17% increase).
• Mach increased its quarterly dividend to $0.53 (annualized $2.12), implying a 16.6% yield while the dividend payout ratio stands at an elevated 189.29%.
• The company topped Q1 estimates with EPS of $0.43 (vs. $0.26 consensus) and $387.5M in revenue, and analysts maintain a consensus rating of "Moderate Buy" with an average target of $18.50.

Shares of Mach Natural Resources LP (NYSE:MNR - Get Free Report) saw strong trading volume on Tuesday after an insider bought additional shares in the company. 439,272 shares traded hands during mid-day trading, a decline of 15% from the previous session's volume of 514,401 shares.The stock last traded at $12.7280 and had previously closed at $12.77.

Specifically, insider Tom L. Ward acquired 153,256 shares of the firm's stock in a transaction that occurred on Monday, April 13th. The stock was acquired at an average cost of $13.05 per share, for a total transaction of $1,999,990.80. Following the completion of the acquisition, the insider directly owned 13,295,039 shares of the company's stock, valued at approximately $173,500,258.95. This trade represents a 1.17% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website.

Analyst Ratings Changes

A number of analysts recently weighed in on the company. Truist Financial assumed coverage on Mach Natural Resources in a report on Tuesday, March 24th. They issued a "hold" rating and a $14.00 price objective for the company. Zacks Research upgraded Mach Natural Resources from a "strong sell" rating to a "hold" rating in a report on Monday, March 16th. Weiss Ratings upgraded Mach Natural Resources from a "sell (d+)" rating to a "hold (c-)" rating in a report on Monday, March 16th. KeyCorp restated a "sector weight" rating on shares of Mach Natural Resources in a report on Friday, January 16th. Finally, Wall Street Zen upgraded Mach Natural Resources from a "buy" rating to a "strong-buy" rating in a report on Saturday, April 4th. Two equities research analysts have rated the stock with a Strong Buy rating, two have given a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $18.50.

Mach Natural Resources Stock Performance

The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.93 and a current ratio of 1.05. The stock has a fifty day simple moving average of $13.28 and a two-hundred day simple moving average of $12.34. The stock has a market capitalization of $2.14 billion, a price-to-earnings ratio of 11.36 and a beta of -0.35.

Mach Natural Resources (NYSE:MNR - Get Free Report) last issued its quarterly earnings results on Thursday, March 12th. The company reported $0.43 earnings per share for the quarter, topping analysts' consensus estimates 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 firm had revenue of $387.54 million during the quarter, compared to the consensus estimate of $357.31 million. Analysts forecast that Mach Natural Resources LP will post 1.95 earnings per share for the current fiscal year.

Mach Natural Resources Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 12th. Shareholders of record on Thursday, February 26th were issued a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a yield of 16.6%. The ex-dividend date was Thursday, February 26th. This is an increase from Mach Natural Resources's previous quarterly dividend of $0.27. Mach Natural Resources's dividend payout ratio (DPR) is 189.29%.

Institutional Trading of Mach Natural Resources

A number of large investors have recently bought and sold shares of MNR. Kayne Anderson Capital Advisors LP acquired a new stake in Mach Natural Resources during the 3rd quarter worth about $252,892,000. Goldman Sachs Group Inc. grew its holdings in Mach Natural Resources by 120.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 3,814,782 shares of the company's stock worth $59,320,000 after acquiring an additional 2,084,511 shares during the period. CIBC Bancorp USA Inc. acquired a new stake in Mach Natural Resources during the 3rd quarter worth about $7,926,000. First Trust Advisors LP acquired a new stake in Mach Natural Resources during the 2nd quarter worth about $7,630,000. Finally, Clear Street Group Inc. acquired a new stake in shares of Mach Natural Resources in the 3rd quarter valued at about $5,638,000. 78.36% of the stock is currently owned by institutional investors and hedge funds.

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

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