Short Interest in Mach Natural Resources LP (NYSE:MNR) Grows By 126.0%

Mach Natural Resources LP (NYSE:MNR) was the target of a large growth in short interest during the month of February. As of February 28th, there was short interest totalling 679,900 shares, a growth of 126.0% from the February 13th total of 300,800 shares. Currently, 4.3% of the shares of the company are short sold. Based on an average daily volume of 320,200 shares, the short-interest ratio is currently 2.1 days.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on MNR. Stifel Nicolaus boosted their price target on Mach Natural Resources from $21.00 to $23.00 and gave the company a “buy” rating in a research report on Friday, February 7th. Raymond James restated 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 report on Monday, February 10th. Finally, Truist Financial boosted their target price on Mach Natural Resources from $23.00 to $24.00 and gave the stock a “buy” rating in a research report on Monday, January 13th.

Insider Activity

In related news, Director William Wallace Mcmullen purchased 5,161,290 shares of the company’s stock in a transaction that occurred on Friday, February 7th. The shares were purchased at an average price 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 position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 87.80% of the company’s stock.

Institutional Investors Weigh In On Mach Natural Resources

A number of institutional investors and hedge funds have recently modified their holdings of MNR. Signaturefd LLC purchased a new stake in Mach Natural Resources in the 4th quarter valued at approximately $26,000. Hollencrest Capital Management purchased a new stake in Mach Natural Resources in the 4th quarter valued at approximately $34,000. Parkside Financial Bank & Trust purchased a new stake in Mach Natural Resources in the 4th quarter valued at approximately $43,000. Avior Wealth Management LLC lifted its stake in Mach Natural Resources by 33.3% in the 4th quarter. Avior Wealth Management LLC now owns 12,000 shares of the company’s stock valued at $206,000 after buying an additional 3,000 shares in the last quarter. Finally, XTX Topco Ltd lifted 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 purchasing an additional 1,341 shares during the period. Institutional investors and hedge funds own 78.36% of the company’s stock.

Mach Natural Resources Stock Up 2.1 %

Shares of MNR traded up $0.31 on Friday, reaching $14.61. The stock had a trading volume of 698,386 shares, compared to its average volume of 352,406. The stock has a market cap of $1.51 billion, a price-to-earnings ratio of 5.84 and a beta of -0.38. 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 company’s 50-day moving average is $16.33. Mach Natural Resources has a twelve month low of $13.53 and a twelve month high of $21.19.

Mach Natural Resources Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 13th. Investors of record on Thursday, February 27th were issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 13.69%. The ex-dividend date of this dividend was Thursday, February 27th. Mach Natural Resources’s dividend payout ratio is currently 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.