Short Interest in Mach Natural Resources LP (NYSE:MNR) Grows By 60.0%

Mach Natural Resources LP (NYSE:MNR) was the recipient of a significant increase in short interest in February. As of February 15th, there was short interest totalling 300,800 shares, an increase of 60.0% from the January 31st total of 188,000 shares. Approximately 2.2% of the shares of the stock are short sold. Based on an average daily trading volume, of 316,100 shares, the days-to-cover ratio is presently 1.0 days.

Wall Street Analysts Forecast Growth

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

Insider Activity at Mach Natural Resources

In related news, Director William Wallace Mcmullen acquired 5,161,290 shares of Mach Natural Resources stock in a transaction that occurred on Friday, February 7th. The stock was purchased at an average price of $15.50 per share, for a total transaction of $79,999,995.00. Following the completion of the purchase, 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 Securities & Exchange Commission, which is available through the SEC website. Company insiders own 87.80% of the company’s stock.

Institutional Investors Weigh In On Mach Natural Resources

Large investors have recently bought and sold shares of the stock. Signaturefd LLC acquired a new position in shares of Mach Natural Resources in the fourth quarter worth $26,000. Hollencrest Capital Management purchased a new stake in Mach Natural Resources during the 4th quarter worth about $34,000. Parkside Financial Bank & Trust acquired a new position in Mach Natural Resources in the 4th quarter valued at about $43,000. Avior Wealth Management LLC lifted its holdings in 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 purchasing an additional 3,000 shares in the last quarter. Finally, XTX Topco Ltd lifted its holdings in Mach Natural Resources by 11.5% in the 4th quarter. XTX Topco Ltd now owns 13,003 shares of the company’s stock valued at $223,000 after purchasing an additional 1,341 shares in the last quarter. Institutional investors and hedge funds own 78.36% of the company’s stock.

Mach Natural Resources Price Performance

Shares of NYSE MNR traded down $0.39 on Monday, hitting $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 12-month low of $14.38 and a 12-month high of $21.19. The stock has a market cap of $1.50 billion, a P/E ratio of 5.78 and a beta of -0.79. 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 50 day simple moving average of $16.85.

Mach Natural Resources Cuts Dividend

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