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

Mach Natural Resources LP (NYSE:MNR) was the recipient of a significant growth in short interest in 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. Based on an average daily volume of 316,100 shares, the days-to-cover ratio is presently 1.0 days. Approximately 2.2% of the company’s stock are sold short.

Insider Activity at Mach Natural Resources

In related news, Director William Wallace Mcmullen purchased 5,161,290 shares of the business’s stock in a transaction that occurred on 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 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 ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 87.80% of the stock is currently owned by corporate insiders.

Institutional Trading of Mach Natural Resources

A number of hedge funds have recently added to or reduced their stakes in MNR. Signaturefd LLC purchased a new stake in shares of Mach Natural Resources during the fourth quarter worth approximately $26,000. Hollencrest Capital Management acquired a new position in Mach Natural Resources in the 4th quarter valued at $34,000. Parkside Financial Bank & Trust purchased a new position in Mach Natural Resources during the 4th quarter worth $43,000. Avior Wealth Management LLC lifted its stake in shares of Mach Natural Resources by 33.3% in the 4th quarter. Avior Wealth Management LLC now owns 12,000 shares of the company’s stock worth $206,000 after acquiring an additional 3,000 shares during the period. Finally, XTX Topco Ltd lifted its stake in shares of Mach Natural Resources by 11.5% in 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 during the period. 78.36% of the stock is owned by institutional investors and hedge funds.

Mach Natural Resources Price Performance

Shares of NYSE:MNR traded down $0.39 on Monday, reaching $14.46. The company’s stock had a trading volume of 272,367 shares, compared to its average volume of 350,270. Mach Natural Resources has a 52-week low of $14.38 and a 52-week high of $21.19. The company has a market cap of $1.50 billion, a PE ratio of 5.78 and a beta of -0.79. The business has a 50-day moving average price of $16.85. The company has a quick ratio of 1.16, a current ratio of 1.24 and a debt-to-equity ratio of 0.56.

Mach Natural Resources Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 13th. Shareholders of record on Thursday, February 27th will be paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 13.83%. The ex-dividend date of this dividend is Thursday, February 27th. Mach Natural Resources’s dividend payout ratio is presently 80.00%.

Analyst Ratings Changes

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

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.