Mach Natural Resources
Produces oil, natural gas, and NGLs across three U.S. basins.
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Profile
Produces oil, natural gas, and NGLs across the Anadarko, Permian, and San Juan basins. Its acquisition-led portfolio has material natural-gas exposure and operates as a distribution-oriented upstream partnership.
Produces oil, natural gas, and NGLs from assets in the Anadarko, Permian, and San Juan basins. The portfolio is concentrated in the United States and has material natural-gas exposure. Acquisitions expanded the company over time from an Anadarko platform into a three-basin producer.
Operates as a distribution-oriented upstream partnership led by Tom L. Ward. Its executive, operating, and administrative personnel are supplied under a management-services agreement with affiliated Mach Resources rather than employed directly by the LP. Commodity prices, reserve estimates, financing access, and integration of acquired assets shape the business.
Company facts
Key statistics
Year to date +11.2% · Average volume (30d) 306.8K
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Prior rating | Rating | Prior target | Target |
|---|---|---|---|---|---|---|
| Aug 10, 2026 | Northland Securities | Target | $20 | $17 | ||
| Jul 14, 2026 | Raymond James | Reiterate | Strong Buy | $18 | $19 | |
| Jul 13, 2026 | Stephens | Target | $20 | |||
| Jun 18, 2026 | Raymond James | Reiterate | Strong Buy | $18 | ||
| Mar 24, 2026 | Truist Securities | Downgrade | Buy | Hold |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Aug 6, 2026Q2 FY26 | $0.36 | $0.58 | +59.8% | $377.9M | $406.0M | +7.4% | −2.70% |
| May 7, 2026Q1 FY26 | $0.51 | $0.74 | +45.4% | $397.6M | $286.0M | −28.1% | +4.32% |
| Mar 12, 2026Q4 FY25 | $0.26 | $0.43 | +65.4% | $357.7M | $361.6M | +1.1% | +1.94% |
| Nov 6, 2025Q3 FY25 | $0.34 | $0.44 | +29.4% | $357.3M | $272.6M | −23.7% | −3.89% |
Financial highlights
| 12 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $226.8M | $288.5M | $272.6M | $387.5M | $382.8M | $406.0M | |
| Gross profit | $62.5M | $120.1M | $159.9M | $115.1M | $95.9M | $400.6M | |
| Operating income | $51.7M | $111.3M | −$19.2M | $101.2M | $87.2M | $122.5M | |
| Net income | $15.9M | $89.7M | −$35.7M | $216.1M | −$35.0M | $98.2M | |
| Diluted EPS | $0.14 | $0.76 | −$0.28 | $0.47 | −$0.21 | $0.58 | |
| Gross margin | 27.6% | 41.6% | 58.7% | 29.7% | 25.1% | 98.7% | |
| Operating margin | 22.8% | 38.6% | -7.0% | 26.1% | 22.8% | 30.2% |
Fiscal years (4-quarter sums)FY22 $1.25B · FY23 $715.9M · FY24 $969.6M · FY25 $1.18B
Revenue by product · Q2 FY26
Balance sheet, Jun 30, 2026Cash & short-term investments $41.2M · Total debt $1.19B · Total assets $3.68B · Shareholders' equity $1.84B
Dividends
Last cut to $0.36 from $0.64 in Aug 2026. To collect a payout, hold shares through the close before the ex-date.
History
| Ex-date | Record | Paid | Amount | Note |
|---|---|---|---|---|
| Aug 17, 2026 | Aug 17 | Aug 31 | $0.36 | cut from $0.64 |
| May 21, 2026 | May 21 | Jun 4 | $0.64 | raised from $0.53 |
| Feb 26, 2026 | Feb 26 | Mar 12 | $0.53 | raised from $0.27 |
| Nov 20, 2025 | Nov 20 | Dec 4 | $0.27 | cut from $0.38 |
| Aug 21, 2025 | Aug 21 | Sep 4 | $0.38 | cut from $0.79 |
| May 22, 2025 | May 22 | Jun 5 | $0.79 | raised from $0.50 |
| Feb 27, 2025 | Feb 27 | Mar 13 | $0.50 | cut from $0.60 |
| Nov 26, 2024 | Nov 26 | Dec 10 | $0.60 | cut from $0.90 |
Ownership
Shares outstanding 166.80M · Float 39.64M · 23.8% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| Bayou City Energy Management LLC | 74.81M | 63.20% | 13D | Jun 17, 2025 |
| IKAV General Partner s.a r.l. | 30.61M | 18.20% | 13G | Sep 23, 2025 |
| Kayne Anderson Capital Advisors, L.P. | 15.52M | 9.23% | 13G | Apr 8, 2026 |
| Tom L. Ward | 13.67M | 13.20% | 13G | Nov 12, 2024 |
| American Century Companies Inc | 2.36M | 1.41% | 13F | May 15, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Apr 13, 2026 | Tom L. Ward | director, 10 percent owner, officer, other: See Remarks | +76,628 | $13.05 |
| Apr 8, 2026 | General Partner S.a r.l. IKAV | 10 percent owner | −5,557,679 | $12.81 |
| Mar 19, 2026 | William Wallace McMullen | director, 10 percent owner, other: See Remarks | +3,570 | $14.00 |
| Mar 20, 2026 | William Wallace McMullen | director, 10 percent owner, other: See Remarks | +2,500 | $14.00 |
| Mar 23, 2026 | William Wallace McMullen | director, 10 percent owner, other: See Remarks | +3,215 | $13.63 |
Peers
- Occidental Petroleum
Large Permian oil and gas producer with adjacent acreage competition
- Permian Resources
Delaware Basin pure-play producer competing for Permian resources
- Matador Resources
Delaware Basin oil and gas operator with New Mexico exposure
- APA
Permian producer with a multi-year economic drilling inventory
- SM Energy
Independent oil and gas producer with Permian Basin operations
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Mach Natural Resources | $12.58 | +0.60% | $2.09B | 22.3 | 9.2 | 1.4 | +40.7% |
| Occidental Petroleum | $59.23 | +0.23% | $58.78B | 9.1 | 13.2 | 2.3 | +27.7% |
| Permian Resources | $22.86 | +0.82% | $19.01B | 15.0 | 10.3 | 3.3 | +55.2% |
| Matador Resources | $56.39 | +0.04% | $7.00B | 9.7 | 7.3 | 1.8 | +28.2% |
| APA | $42.61 | +0.18% | $15.04B | 9.0 | 9.5 | 1.7 | +10.2% |
| SM Energy | $36.27 | −1.01% | $8.78B | 9.5 | 5.3 | 1.6 | +218.4% |
| Median | 9.5 | 9.5 | 1.8 | +28.2% |