Insider Buying: Mach Natural Resources (NYSE:MNR) Director Buys $35,000.00 in Stock

Mach Natural Resources LP (NYSE:MNR) Director William Wallace Mcmullen purchased 2,500 shares of the stock in a transaction dated Friday, March 20th. The stock was purchased at an average cost of $14.00 per share, for a total transaction of $35,000.00. Following the completion of the purchase, the director directly owned 74,856,702 shares of the company’s stock, valued at approximately $1,047,993,828. The trade was a 0.00% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.

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 shares were purchased at an average price of $13.63 per share, with a total value of $43,820.45.
• On Thursday, March 19th, William Wallace Mcmullen acquired 3,570 shares of Mach Natural Resources stock. The stock was purchased at an average cost of $14.00 per share, with a total value of $49,980.00.

Mach Natural Resources Trading Up 0.8%

Shares of MNR stock opened at $14.01 on Thursday. Mach Natural Resources LP has a fifty-two week low of $10.46 and a fifty-two week high of $15.91. 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’s fifty day moving average is $12.72 and its two-hundred day moving average is $12.34. The firm has a market capitalization of $2.36 billion, a P/E ratio of 12.51 and a beta of -0.24.

Mach Natural Resources (NYSE:MNR) last released its earnings results on Thursday, March 12th. The company reported $0.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.26 by $0.17. The business had revenue of $387.54 million during the quarter, compared to analyst estimates of $357.31 million. Mach Natural Resources had a net margin of 12.16% and a return on equity of 16.91%. Research analysts expect 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 disclosed a quarterly dividend, which was paid on Thursday, March 12th. Investors of record on Thursday, February 26th were paid a dividend of $0.53 per share. The ex-dividend date of this dividend was Thursday, February 26th. This represents a $2.12 annualized dividend and a yield of 15.1%. This is a boost from Mach Natural Resources’s previous quarterly dividend of $0.27. Mach Natural Resources’s dividend payout ratio is currently 189.29%.

Institutional Trading of Mach Natural Resources

A number of hedge funds and other institutional investors have recently modified their holdings of MNR. Cooksen Wealth LLC increased its position in shares of Mach Natural Resources by 87.5% during the second quarter. Cooksen Wealth LLC now owns 2,635 shares of the company’s stock valued at $38,000 after acquiring an additional 1,230 shares during the last quarter. Arrow Investment Advisors LLC raised its stake in shares of Mach Natural Resources by 12.9% in the 3rd quarter. Arrow Investment Advisors LLC now owns 12,216 shares of the company’s stock valued at $161,000 after acquiring an additional 1,400 shares during the period. CWM LLC acquired a new position in shares of Mach Natural Resources in the 3rd quarter worth approximately $27,000. Hilton Head Capital Partners LLC purchased a new position in shares of Mach Natural Resources during the 4th quarter worth approximately $31,000. Finally, Stifel Financial Corp boosted its position in shares of Mach Natural Resources by 1.5% during the 4th quarter. Stifel Financial Corp now owns 231,999 shares of the company’s stock worth $2,561,000 after purchasing an additional 3,472 shares during the period. 78.36% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have weighed in on MNR. Wall Street Zen raised shares of Mach Natural Resources from a “hold” rating to a “buy” rating in a research note on Saturday, March 21st. KeyCorp restated a “sector weight” rating on shares of Mach Natural Resources in a research report on Friday, January 16th. Zacks Research raised Mach Natural Resources from a “strong sell” rating to a “hold” rating in a report on Monday, March 16th. Truist Financial began coverage on Mach Natural Resources in a research report on Tuesday. They set a “hold” rating and a $14.00 price objective on the stock. 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 equities research analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $18.50.

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.