Mach Natural Resources LP (NYSE:MNR) to Issue Quarterly Dividend of $0.64

Mach Natural Resources LP (NYSE:MNR) declared a quarterly dividend on Thursday, May 7th. Investors of record on Thursday, May 21st will be paid a dividend of 0.64 per share on Thursday, June 4th. This represents a c) dividend on an annualized basis and a dividend yield of 19.4%. The ex-dividend date is Thursday, May 21st. This is a 20.8% increase from Mach Natural Resources’s previous quarterly dividend of $0.53.

Mach Natural Resources has a payout ratio of 95.5% indicating that 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 $1.32 per share next year, which means the company may not be able to cover its $2.12 annual dividend with an expected future payout ratio of 160.6%.

Mach Natural Resources Stock Down 1.6%

Shares of MNR stock opened at $13.18 on Friday. The company has a market capitalization of $2.22 billion, a price-to-earnings ratio of 11.77 and a beta of -0.33. The stock’s 50 day simple moving average is $13.38 and its 200 day simple moving average is $12.38. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.93 and a current ratio of 1.05. Mach Natural Resources has a twelve month low of $10.46 and a twelve month high of $15.60.

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, beating analysts’ consensus estimates of $0.26 by $0.17. The firm 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%. As a group, research analysts predict that Mach Natural Resources will post 1.75 EPS for the current year.

Analyst Upgrades and Downgrades

MNR has been the topic of a number of research analyst reports. KeyCorp reaffirmed a “sector weight” rating on shares of Mach Natural Resources in a report on Friday, January 16th. Truist Financial initiated coverage on Mach Natural Resources in a report on Tuesday, March 24th. They issued a “hold” rating and a $14.00 target price on the stock. Weiss Ratings raised Mach Natural Resources from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday, April 27th. Wall Street Zen lowered Mach Natural Resources from a “strong-buy” rating to a “buy” rating in a report on Saturday, May 2nd. Finally, Zacks Research raised Mach Natural Resources from a “hold” rating to a “strong-buy” rating in a report on Monday, April 20th. Three analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, Mach Natural Resources has an average rating of “Buy” and a consensus target price 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.