Mach Natural Resources LP (MNR) To Go Ex-Dividend on February 27th

Mach Natural Resources LP (NYSE:MNR) announced a quarterly dividend on Thursday, February 13th,Wall Street Journal reports. Stockholders of record on Thursday, February 27th will be paid a dividend of 0.50 per share on Thursday, March 13th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 12.40%. The ex-dividend date is Thursday, February 27th.

Mach Natural Resources has a payout ratio of 90.2% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Analysts expect Mach Natural Resources to earn $2.62 per share next year, which means the company should continue to be able to cover its $2.40 annual dividend with an expected future payout ratio of 91.6%.

Mach Natural Resources Stock Up 0.1 %

Shares of Mach Natural Resources stock opened at $16.13 on Friday. The company has a quick ratio of 1.16, a current ratio of 1.24 and a debt-to-equity ratio of 0.56. Mach Natural Resources has a one year low of $14.46 and a one year high of $21.19.

Wall Street Analyst Weigh In

MNR has been the topic of several recent research reports. Stifel Nicolaus boosted their price target on shares of Mach Natural Resources from $21.00 to $23.00 and gave the company a “buy” rating in a research report on Friday, February 7th. Truist Financial boosted their target price on shares of Mach Natural Resources from $23.00 to $24.00 and gave the company a “buy” rating in a report on Monday, January 13th. Finally, Raymond James restated a “strong-buy” rating and set a $25.00 price target (up previously from $23.00) on shares of Mach Natural Resources in a report on Monday, February 10th.

Insider Buying and Selling

In related news, Director William Wallace Mcmullen acquired 5,161,290 shares of the stock in a transaction that occurred on Friday, February 7th. The stock was purchased at an average price of $15.50 per share, with a total value of $79,999,995.00. Following the transaction, the director now owns 74,287,410 shares of the company’s stock, valued at approximately $1,151,454,855. This trade represents a 7.47 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 87.80% of the company’s stock.

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.