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

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

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on MNR. Truist Financial increased their target price on shares of Mach Natural Resources from $23.00 to $24.00 and gave the company a “buy” rating in a research note on Monday, January 13th. Stifel Nicolaus upped their price target on shares of Mach Natural Resources from $21.00 to $23.00 and gave the company a “buy” rating in a report on Friday, February 7th. Finally, Raymond James reissued a “strong-buy” rating and issued a $25.00 price objective (up previously from $23.00) on shares of Mach Natural Resources in a research note on Monday, February 10th.

Insider Transactions at Mach Natural Resources

In related news, Director William Wallace Mcmullen purchased 5,161,290 shares of the firm’s stock in a transaction that occurred on Friday, February 7th. The shares were bought at an average price of $15.50 per share, for a total transaction of $79,999,995.00. Following the acquisition, the director now owns 74,287,410 shares of the company’s stock, valued at approximately $1,151,454,855. This represents a 7.47 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 87.80% of the company’s stock.

Institutional Investors Weigh In On Mach Natural Resources

Several large investors have recently added to or reduced their stakes in MNR. Signaturefd LLC purchased a new position in shares of Mach Natural Resources during the fourth quarter worth approximately $26,000. Hollencrest Capital Management bought a new position in Mach Natural Resources in the fourth quarter worth approximately $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 raised its position in Mach Natural Resources by 33.3% during the 4th quarter. Avior Wealth Management LLC now owns 12,000 shares of the company’s stock valued at $206,000 after purchasing an additional 3,000 shares in the last quarter. Finally, XTX Topco Ltd lifted its holdings 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 buying an additional 1,341 shares during the period. 78.36% of the stock is owned by hedge funds and other institutional investors.

Mach Natural Resources Stock Down 1.3 %

MNR stock opened at $14.35 on Friday. Mach Natural Resources has a twelve month low of $13.53 and a twelve month high of $21.19. The stock has a market capitalization of $1.48 billion, a price-to-earnings ratio of 5.74 and a beta of -0.38. The stock has a fifty day simple moving average of $16.38. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.16 and a current ratio of 1.24.

Mach Natural Resources Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 13th. Investors of record on Thursday, February 27th were paid a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 13.94%. The ex-dividend date was Thursday, February 27th. Mach Natural Resources’s dividend payout ratio 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.