Mach Natural Resources LP (NYSE:MNR) Short Interest Update

Mach Natural Resources LP (NYSE:MNR) was the recipient of a large growth in short interest during the month of February. As of February 15th, there was short interest totalling 300,800 shares, a growth of 60.0% from the January 31st total of 188,000 shares. Currently, 2.2% of the shares of the company are short sold. Based on an average daily volume of 316,100 shares, the days-to-cover ratio is presently 1.0 days.

Insider Activity

In other news, Director William Wallace Mcmullen bought 5,161,290 shares of Mach Natural Resources stock in a transaction that occurred on Friday, February 7th. The stock was bought at an average cost of $15.50 per share, with a total value of $79,999,995.00. Following the acquisition, the director now owns 74,287,410 shares of the company’s stock, valued at $1,151,454,855. The trade was a 7.47 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 87.80% of the company’s stock.

Institutional Investors Weigh In On Mach Natural Resources

Several large investors have recently modified their holdings of MNR. Novem Group purchased a new position in Mach Natural Resources in the fourth quarter valued at about $241,000. Susquehanna Fundamental Investments LLC purchased a new position in shares of Mach Natural Resources in the 4th quarter worth approximately $364,000. Stifel Financial Corp grew its position in shares of 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 buying an additional 56,306 shares during the last quarter. XTX Topco Ltd raised its stake 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 acquiring an additional 1,341 shares in the last quarter. Finally, Rockefeller Capital Management L.P. lifted its position in Mach Natural Resources by 10.9% during the fourth quarter. Rockefeller Capital Management L.P. now owns 30,610 shares of the company’s stock valued at $526,000 after acquiring an additional 3,000 shares during the last quarter. Institutional investors own 78.36% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Stifel Nicolaus upped their target price 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. Raymond James reissued a “strong-buy” rating and set a $25.00 price objective (up previously from $23.00) on shares of Mach Natural Resources in a report on Monday, February 10th. Finally, Truist Financial lifted their target price on Mach Natural Resources from $23.00 to $24.00 and gave the stock a “buy” rating in a report on Monday, January 13th.

Mach Natural Resources Trading Up 0.2 %

Shares of MNR opened at $14.87 on Friday. The company’s fifty day moving average is $16.85. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.24 and a quick ratio of 1.16. The stock has a market capitalization of $1.54 billion, a price-to-earnings ratio of 5.95 and a beta of -0.79. Mach Natural Resources has a 12-month low of $14.46 and a 12-month high of $21.19.

Mach Natural Resources Cuts Dividend

The firm 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 dividend on an annualized basis and a yield of 13.45%. The ex-dividend date is Thursday, February 27th. Mach Natural Resources’s dividend payout ratio (DPR) is presently 80.00%.

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.