Mach Natural Resources LP (MNR) to Distribute Quarterly Dividend of $0.36 on August 31st

Mach Natural Resources LP (NYSE:MNR) announced a quarterly dividend on Thursday, August 6th. Investors of record on Monday, August 17th will be paid a dividend of 0.36 per share on Monday, August 31st. This represents a c) dividend on an annualized basis and a dividend yield of 11.1%. The ex-dividend date is Monday, August 17th.

Mach Natural Resources has a payout ratio of 64.9% indicating that its dividend is sufficiently covered by earnings. Analysts expect Mach Natural Resources to earn $1.25 per share next year, which means the company may not be able to cover its $1.44 annual dividend with an expected future payout ratio of 115.2%.

Mach Natural Resources Price Performance

MNR opened at $13.01 on Friday. The firm has a market cap of $2.17 billion, a price-to-earnings ratio of 22.05 and a beta of -0.31. Mach Natural Resources has a fifty-two week low of $10.46 and a fifty-two week high of $15.02. The company’s 50-day moving average price is $13.00 and its 200 day moving average price is $13.20. The company has a quick ratio of 0.73, a current ratio of 0.88 and a debt-to-equity ratio of 0.63.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on MNR. Citigroup reiterated an “outperform” rating on shares of Mach Natural Resources in a research report on Monday. Zacks Research upgraded Mach Natural Resources from a “strong sell” rating to a “hold” rating in a research report on Tuesday. Raymond James Financial upped their price objective on Mach Natural Resources from $18.00 to $19.00 and gave the stock a “strong-buy” rating in a research note on Tuesday, July 14th. Wall Street Zen raised Mach Natural Resources from a “hold” rating to a “buy” rating in a research report on Saturday. Finally, Stephens set a $20.00 target price on Mach Natural Resources in a research note on Monday, July 13th. Two analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $17.60.

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.