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

Mach Natural Resources LP (NYSE:MNR) Director William Wallace Mcmullen acquired 5,161,290 shares of the stock in a transaction dated Friday, February 7th. The stock was acquired at an average price of $15.50 per share, with a total value of $79,999,995.00. Following the completion of the acquisition, the director now owns 74,287,410 shares in the company, valued at approximately $1,151,454,855. The trade was a 7.47 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Mach Natural Resources Stock Up 1.3 %

MNR opened at $16.26 on Tuesday. Mach Natural Resources LP has a one year low of $14.46 and a one year high of $21.19. 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 has a market cap of $1.68 billion, a price-to-earnings ratio of 6.11 and a beta of -0.79.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the stock. Truist Financial boosted their price target on shares of 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 reiterated a “strong-buy” rating and issued a $25.00 price objective (up previously from $23.00) on shares of Mach Natural Resources in a report on Monday. Finally, Stifel Nicolaus increased their target price on Mach Natural Resources from $21.00 to $23.00 and gave the company a “buy” rating in a report on Friday.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. Signaturefd LLC bought a new stake in shares of Mach Natural Resources during the 4th quarter valued at about $26,000. Hollencrest Capital Management purchased a new stake in Mach Natural Resources in the fourth quarter worth about $34,000. Parkside Financial Bank & Trust bought a new stake in Mach Natural Resources during the 4th quarter valued at approximately $43,000. Avior Wealth Management LLC grew its holdings in shares of Mach Natural Resources by 33.3% during 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, ING Groep NV bought a new position in shares of Mach Natural Resources in the 4th quarter worth approximately $412,000. 78.36% of the stock is currently owned by institutional investors.

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.