Insider Buying: Mach Natural Resources (NYSE:MNR) Director Acquires 3,570 Shares of Stock

Mach Natural Resources LP (NYSE:MNR) Director William Wallace Mcmullen bought 3,570 shares of the company’s stock in a transaction that occurred on Thursday, March 19th. The shares were purchased at an average price of $14.00 per share, with a total value of $49,980.00. Following the transaction, the director directly owned 74,854,202 shares in the company, valued at $1,047,958,828. This represents a 0.00% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

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

• On Monday, March 23rd, William Wallace Mcmullen purchased 3,215 shares of Mach Natural Resources stock. The stock was purchased at an average price of $13.63 per share, for a total transaction of $43,820.45.
• On Friday, March 20th, William Wallace Mcmullen acquired 2,500 shares of Mach Natural Resources stock. The shares were purchased at an average cost of $14.00 per share, for a total transaction of $35,000.00.

Mach Natural Resources Price Performance

Shares of NYSE MNR traded down $0.06 during mid-day trading on Monday, hitting $13.75. 457,338 shares of the stock were exchanged, compared to its average volume of 347,406. Mach Natural Resources LP has a twelve month low of $10.46 and a twelve month high of $15.91. The stock’s fifty day simple moving average is $12.54 and its two-hundred day simple moving average is $12.33. 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 company has a market cap of $2.31 billion, a P/E ratio of 12.28 and a beta of -0.24.

Mach Natural Resources (NYSE:MNR) last announced its earnings results on Thursday, March 12th. The company reported $0.43 EPS for the quarter, topping 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 business had revenue of $387.54 million for the quarter, compared to the consensus estimate of $357.31 million. As a group, analysts forecast that Mach Natural Resources LP will post 1.95 EPS for the current fiscal year.

Mach Natural Resources Increases Dividend

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

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. Zacks Research upgraded shares of Mach Natural Resources from a “strong sell” rating to a “hold” rating in a research report on Monday, March 16th. KeyCorp reaffirmed a “sector weight” rating on shares of Mach Natural Resources in a research note on Friday, January 16th. Wall Street Zen upgraded shares of Mach Natural Resources from a “hold” rating to a “buy” rating in a research report on Saturday. Weiss Ratings raised shares of Mach Natural Resources from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday, March 16th. Finally, Stifel Nicolaus lowered their price target on shares of Mach Natural Resources from $22.00 to $18.00 and set a “buy” rating for the company in a report on Tuesday, January 6th. Two research analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Mach Natural Resources currently has an average rating of “Moderate Buy” and an average price target of $20.00.

Institutional Trading of Mach Natural Resources

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. CWM LLC acquired a new stake in shares of Mach Natural Resources in the 3rd quarter valued at approximately $27,000. Hilton Head Capital Partners LLC acquired a new position in Mach Natural Resources during the fourth quarter valued at approximately $31,000. Cooksen Wealth LLC increased its stake in Mach Natural Resources by 87.5% in the second quarter. Cooksen Wealth LLC now owns 2,635 shares of the company’s stock valued at $38,000 after purchasing an additional 1,230 shares in the last quarter. Gunpowder Capital Management LLC dba Oliver Wealth Management bought a new stake in Mach Natural Resources in the fourth quarter valued at approximately $42,000. Finally, Kestra Advisory Services LLC acquired a new stake in Mach Natural Resources in the fourth quarter worth $44,000. 78.36% of the stock is currently owned by institutional investors and hedge funds.

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.