Purchase details
On April 13, 2026, Tom L. Ward executed two transactions that together added 153,256 common units of Mach Natural Resources LP (ticker: MNR) to entities under his control, at a purchase price of $13.05 per unit. The combined value of the acquisitions was $1,999,990, according to a Form 4 submitted to the U.S. Securities and Exchange Commission. The buys were split evenly: the Tom L. Ward 1992 Revocable Living Trust acquired 76,628 common units, and WCT Resources LLC acquired 76,628 common units.
Market context
The April 13 purchases occurred at $13.05 per unit, a level higher than the reported current trading price of $12.77. The security had declined 10.6% over the preceding week, making the timing of the director-level purchases notable within the recent price weakness.
Post-transaction holdings
Following the recorded transactions, the filing shows substantial holdings tied to Mr. Ward and related entities. The Tom L. Ward 1992 Revocable Living Trust directly holds 13,295,039 common units. WCT Resources LLC holds 76,628 common units. Additional positions disclosed include Mach Resources LLC with 421,100 common units, the Tom L. Ward Family Foundation with 167,030 common units, and Mr. Ward directly holding 14,048,879 common units.
Corporate developments and filings
Separately, Mach Natural Resources disclosed that three existing unitholders - VEPU Inc., Simlog Inc., and Sabinal Energy Operating, LLC - intend to sell a total of 9 million common units in a secondary public offering priced at $13.05 per unit. The company stated it will not issue new units in the transaction and will not receive any proceeds from the sale of those units.
In addition, Mach Natural Resources filed unaudited pro forma financial statements with the SEC that describe its recent acquisition of oil and gas properties in the Permian Basin and the acquisition of 100% membership interests in SIMCOE LLC and Simlog LLC. The pro forma statements are unaudited, as noted in the filings.
Analyst coverage and valuation context
Analyst firm Stifel has maintained its Buy rating on Mach Natural Resources and set a price target of $18.00. The firm updated its financial model following the company’s fourth-quarter 2025 results and adjusted EBITDA estimates for 2026 and 2027. Separately, InvestingPro’s analysis cited in the filings indicates MNR appears undervalued at current market levels and noted a dividend yield of 16.76% for the partnership.
What this shows
The Form 4 filing documents the director-level purchases and the concentration of ownership among Mr. Ward and affiliated entities. The transactions coincide with material corporate actions - a large unitholder secondary offering priced at the same per-unit level as the director purchases, and the firm’s recent pro forma filings related to acquisition activity in the Permian Basin - all of which comprise the immediate regulatory and market backdrop for the partnership.
Disclosure
The information above is drawn directly from the company’s regulatory filings and public analyst commentary cited in those filings.