Mach Natural Resources LP (NYSE:MNR) Short Interest Up 43.3% in January

Mach Natural Resources LP (NYSE:MNR) was the target of a large growth in short interest in the month of January. As of January 31st, there was short interest totalling 188,000 shares, a growth of 43.3% from the January 15th total of 131,200 shares. Approximately 1.0% of the shares of the company are sold short. Based on an average daily volume of 263,200 shares, the days-to-cover ratio is currently 0.7 days.

Wall Street Analysts Forecast Growth

Several analysts have commented on the company. Truist Financial raised their price objective on Mach Natural Resources from $23.00 to $24.00 and gave the company a “buy” rating in a report on Monday, January 13th. Raymond James reissued a “strong-buy” rating and issued a $25.00 price target (up previously from $23.00) on shares of Mach Natural Resources in a research note on Monday, February 10th. Finally, Stifel Nicolaus upped their price objective on shares of Mach Natural Resources from $21.00 to $23.00 and gave the stock a “buy” rating in a research report on Friday, February 7th.

Mach Natural Resources Trading Up 0.1 %

Shares of Mach Natural Resources stock traded up $0.01 during mid-day trading on Friday, reaching $16.13. 637,919 shares of the stock traded hands, compared to its average volume of 253,749. Mach Natural Resources has a fifty-two week low of $14.46 and a fifty-two week high of $21.19. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.24 and a quick ratio of 1.16.

Mach Natural Resources Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 13th. Investors of record on Thursday, February 27th will be paid a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 12.40%. The ex-dividend date is Thursday, February 27th.

Insider Transactions at Mach Natural Resources

In other Mach Natural Resources news, Director William Wallace Mcmullen bought 5,161,290 shares of the company’s stock in a transaction dated Friday, February 7th. The shares were purchased at an average cost of $15.50 per share, for a total transaction of $79,999,995.00. Following the transaction, the director now directly owns 74,287,410 shares of the company’s stock, valued at approximately $1,151,454,855. The trade was a 7.47 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 87.80% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MNR. Susquehanna Fundamental Investments LLC purchased a new position in shares of Mach Natural Resources in the fourth quarter worth about $364,000. Stifel Financial Corp lifted its stake in Mach Natural Resources by 23.6% in the 4th quarter. Stifel Financial Corp now owns 295,080 shares of the company’s stock worth $5,069,000 after purchasing an additional 56,306 shares in the last quarter. XTX Topco Ltd boosted its holdings in shares of Mach Natural Resources by 11.5% during the 4th quarter. XTX Topco Ltd now owns 13,003 shares of the company’s stock worth $223,000 after purchasing an additional 1,341 shares during the last quarter. Rockefeller Capital Management L.P. grew its position in shares of Mach Natural Resources by 10.9% in the fourth quarter. Rockefeller Capital Management L.P. now owns 30,610 shares of the company’s stock valued at $526,000 after purchasing an additional 3,000 shares in the last quarter. Finally, Zuckerman Investment Group LLC grew its position in shares of Mach Natural Resources by 34.6% in the fourth quarter. Zuckerman Investment Group LLC now owns 105,000 shares of the company’s stock valued at $1,843,000 after purchasing an additional 27,000 shares in the last quarter. Hedge funds and other institutional investors own 78.36% of the company’s stock.

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.