Mach Natural Resources LP (NYSE:MNR) Short Interest Up 43.3% in January

Mach Natural Resources LP (NYSE:MNR) was the recipient of a significant growth in short interest in the month of 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. Currently, 1.0% of the company’s shares are short sold. Based on an average daily volume of 263,200 shares, the short-interest ratio is currently 0.7 days.

Mach Natural Resources Price Performance

Shares of MNR stock traded up $0.01 during trading hours on Friday, reaching $16.13. 637,919 shares of the company’s stock were exchanged, compared to its average volume of 253,749. Mach Natural Resources has a fifty-two week low of $14.46 and a fifty-two week high of $21.19. 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 firm also recently declared a quarterly dividend, which will be paid on Thursday, March 13th. Shareholders 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 of this dividend is Thursday, February 27th.

Insider Activity at Mach Natural Resources

In other Mach Natural Resources news, Director William Wallace Mcmullen purchased 5,161,290 shares of the stock in a transaction dated Friday, February 7th. The stock was purchased at an average price of $15.50 per share, with a total value of $79,999,995.00. Following the transaction, the director now 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 acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 87.80% of the stock is owned by company insiders.

Institutional Investors Weigh In On Mach Natural Resources

A number of large investors have recently modified their holdings of the business. Signaturefd LLC acquired a new stake in Mach Natural Resources in the 4th quarter worth approximately $26,000. Hollencrest Capital Management acquired a new stake in shares of Mach Natural Resources during the fourth quarter worth $34,000. Parkside Financial Bank & Trust purchased a new stake in shares of Mach Natural Resources during the fourth quarter valued at $43,000. Avior Wealth Management LLC increased its position 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 valued at $206,000 after acquiring an additional 3,000 shares during the period. Finally, XTX Topco Ltd raised its stake in 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 last quarter. Hedge funds and other institutional investors own 78.36% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. Raymond James restated a “strong-buy” rating and set a $25.00 target price (up previously from $23.00) on shares of Mach Natural Resources in a report on Monday, February 10th. Stifel Nicolaus raised their price objective on Mach Natural Resources from $21.00 to $23.00 and gave the company a “buy” rating in a research report on Friday, February 7th. Finally, Truist Financial lifted their target price on Mach Natural Resources from $23.00 to $24.00 and gave the company a “buy” rating in a research note on Monday, January 13th.

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.