Short Interest in Mach Natural Resources LP (NYSE:MNR) Grows By 43.3%

Mach Natural Resources LP (NYSE:MNR) was the recipient of a significant growth in short interest in 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 stock are short sold. Based on an average trading volume of 263,200 shares, the days-to-cover ratio is presently 0.7 days.

Mach Natural Resources Stock Performance

Mach Natural Resources stock traded up $0.01 during mid-day trading on Friday, hitting $16.13. The stock had a trading volume of 637,919 shares, compared to its average volume of 253,749. Mach Natural Resources has a 12 month low of $14.46 and a 12 month high of $21.19. The company has a current ratio of 1.24, a quick ratio of 1.16 and a debt-to-equity ratio of 0.56.

Mach Natural Resources Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 13th. Investors of record on Thursday, February 27th will be issued 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.

Analysts Set New Price Targets

MNR has been the subject of several recent analyst reports. Raymond James reiterated a “strong-buy” rating and set a $25.00 price objective (up from $23.00) on shares of Mach Natural Resources in a research note on Monday, February 10th. Truist Financial increased 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. Finally, Stifel Nicolaus increased their target price on Mach Natural Resources from $21.00 to $23.00 and gave the stock a “buy” rating in a report on Friday, February 7th.

Insiders Place Their Bets

In related news, Director William Wallace Mcmullen acquired 5,161,290 shares of the company’s stock in a transaction on Friday, February 7th. The stock was purchased at an average cost of $15.50 per share, for a total transaction of $79,999,995.00. Following the completion of the purchase, the director now directly 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 document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 87.80% of the company’s stock.

Hedge Funds Weigh In On Mach Natural Resources

Several hedge funds have recently added to or reduced their stakes in MNR. Signaturefd LLC bought a new position in Mach Natural Resources during the fourth quarter worth about $26,000. Hollencrest Capital Management bought a new position in Mach Natural Resources during the fourth quarter worth about $34,000. Parkside Financial Bank & Trust bought a new position in Mach Natural Resources during the fourth quarter worth about $43,000. Avior Wealth Management LLC boosted its holdings in Mach Natural Resources by 33.3% during the fourth quarter. Avior Wealth Management LLC now owns 12,000 shares of the company’s stock worth $206,000 after buying an additional 3,000 shares during the last quarter. Finally, XTX Topco Ltd boosted its holdings in Mach Natural Resources by 11.5% during the fourth quarter. XTX Topco Ltd now owns 13,003 shares of the company’s stock worth $223,000 after buying an additional 1,341 shares during the last quarter. Institutional investors own 78.36% of the company’s stock.

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.