Mach Natural Resources LP (NYSE:MNR) Director William Wallace Mcmullen Buys 5,161,290 Shares of Stock

Mach Natural Resources LP (NYSE:MNR) Director William Wallace Mcmullen purchased 5,161,290 shares of the business’s stock in a transaction dated 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 completion of the acquisition, the director now directly owns 74,287,410 shares of the company’s stock, valued at approximately $1,151,454,855. This trade represents a 7.47 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this link.

Mach Natural Resources Stock Performance

Shares of NYSE MNR opened at $16.26 on Tuesday. Mach Natural Resources LP has a twelve month low of $14.46 and a twelve month high of $21.19. The stock has a market capitalization of $1.68 billion, a price-to-earnings ratio of 6.11 and a beta of -0.79. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.16 and a current ratio of 1.24.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of MNR. Signaturefd LLC bought a new stake in Mach Natural Resources during the fourth quarter valued at approximately $26,000. Hollencrest Capital Management bought a new stake in shares of Mach Natural Resources during the 4th quarter worth $34,000. Parkside Financial Bank & Trust purchased a new position in Mach Natural Resources in the fourth quarter worth $43,000. Avior Wealth Management LLC increased its stake in Mach Natural Resources by 33.3% in the fourth quarter. Avior Wealth Management LLC now owns 12,000 shares of the company’s stock valued at $206,000 after acquiring an additional 3,000 shares during the last quarter. Finally, ING Groep NV purchased a new stake in Mach Natural Resources during the fourth quarter valued at about $412,000. 78.36% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

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

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.