Tom Ward Acquires 153,256 Shares of Mach Natural Resources (NYSE:MNR) Stock

Key Points

• Tom Ward bought 153,256 shares of Mach Natural Resources at an average $13.05 on April 13 for about $1.999M, boosting his holdings to 13,295,039 shares (a 1.17% increase).
• Shares traded up ~1.1% to $12.79 after Mach reported an earnings beat (EPS $0.43 vs $0.26 est., revenue $387.5M) and raised its quarterly dividend to $0.53 (annualized $2.12, 16.6% yield), though the dividend payout ratio is high at 189%.

Mach Natural Resources LP (NYSE:MNR - Get Free Report) insider Tom Ward acquired 153,256 shares of the business's stock in a transaction that occurred on Monday, April 13th. The stock was bought at an average cost of $13.05 per share, for a total transaction of $1,999,990.80. Following the completion of the purchase, the insider owned 13,295,039 shares of the company's stock, valued at $173,500,258.95. This trade represents a 1.17% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Mach Natural Resources Trading Up 1.1%

Shares of Mach Natural Resources stock traded up $0.14 during midday trading on Monday, reaching $12.79. The company had a trading volume of 1,430,490 shares, compared to its average volume of 519,075. The stock has a fifty day moving average price of $13.26 and a 200 day moving average price of $12.34. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.05 and a quick ratio of 0.93. The firm has a market cap of $2.15 billion, a PE ratio of 11.42 and a beta of -0.35. Mach Natural Resources LP has a fifty-two week low of $10.46 and a fifty-two week high of $15.60.

Mach Natural Resources (NYSE:MNR - Get Free Report) last posted its quarterly earnings data on Thursday, March 12th. The company reported $0.43 EPS for the quarter, topping analysts' consensus estimates of $0.26 by $0.17. The company had revenue of $387.54 million for the quarter, compared to analyst estimates of $357.31 million. Mach Natural Resources had a return on equity of 16.91% and a net margin of 12.16%. On average, equities 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 announced a quarterly dividend, which was paid on Thursday, March 12th. Shareholders of record on Thursday, February 26th were issued a $0.53 dividend. The ex-dividend date was Thursday, February 26th. This is an increase from Mach Natural Resources's previous quarterly dividend of $0.27. This represents a $2.12 dividend on an annualized basis and a yield of 16.6%. Mach Natural Resources's dividend payout ratio is presently 189.29%.

Institutional Investors Weigh In On Mach Natural Resources

Several institutional investors have recently bought and sold shares of the stock. Kayne Anderson Capital Advisors LP purchased a new position in Mach Natural Resources in the third quarter worth $252,892,000. Goldman Sachs Group Inc. lifted its position in shares of 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 valued at $59,320,000 after buying an additional 2,084,511 shares during the last quarter. ING Groep NV lifted its position in shares of Mach Natural Resources by 23.1% during the 4th quarter. ING Groep NV now owns 1,018,000 shares of the company's stock valued at $11,239,000 after buying an additional 191,000 shares during the last quarter. CIBC Bancorp USA Inc. purchased a new position in shares of Mach Natural Resources during the 3rd quarter valued at $7,926,000. Finally, First Trust Advisors LP lifted its position in shares of Mach Natural Resources by 19.7% during the 4th quarter. First Trust Advisors LP now owns 539,012 shares of the company's stock valued at $5,951,000 after buying an additional 88,590 shares during the last quarter. Institutional investors own 78.36% of the company's stock.

Wall Street Analysts Forecast Growth

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

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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