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

Mach Natural Resources LP (NYSE:MNR) saw a large growth in short interest during the month of February. As of February 15th, there was short interest totalling 300,800 shares, a growth of 60.0% from the January 31st total of 188,000 shares. Approximately 2.2% of the shares of the company are short sold. Based on an average daily volume of 316,100 shares, the short-interest ratio is currently 1.0 days.

Wall Street Analyst Weigh In

MNR has been the topic of a number of recent analyst reports. Stifel Nicolaus increased their target price on Mach Natural Resources from $21.00 to $23.00 and gave the stock a “buy” rating in a report on Friday, February 7th. Raymond James reissued a “strong-buy” rating and set a $25.00 price objective (up previously from $23.00) on shares of Mach Natural Resources in a report on Monday, February 10th. Finally, Truist Financial boosted their target price 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.

Insiders Place Their Bets

In other news, Director William Wallace Mcmullen acquired 5,161,290 shares of the firm’s stock in a transaction on Friday, February 7th. The shares were purchased at an average cost of $15.50 per share, with a total value of $79,999,995.00. Following the completion of the purchase, the director now owns 74,287,410 shares of the company’s stock, valued at $1,151,454,855. This represents a 7.47 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing 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

Institutional investors have recently modified their holdings of the business. Franklin Resources Inc. grew its holdings in Mach Natural Resources by 13.7% during the 3rd quarter. Franklin Resources Inc. now owns 138,800 shares of the company’s stock worth $2,354,000 after acquiring an additional 16,725 shares during the period. Avior Wealth Management LLC grew its stake in shares of Mach Natural Resources by 33.3% during the fourth quarter. Avior Wealth Management LLC now owns 12,000 shares of the company’s stock worth $206,000 after purchasing an additional 3,000 shares during the period. Chicago Partners Investment Group LLC increased its holdings in Mach Natural Resources by 7.7% in the fourth quarter. Chicago Partners Investment Group LLC now owns 242,118 shares of the company’s stock valued at $4,145,000 after purchasing an additional 17,215 shares during the last quarter. Strategic Financial Concepts LLC lifted its stake in Mach Natural Resources by 1,618.0% in the fourth quarter. Strategic Financial Concepts LLC now owns 195,234 shares of the company’s stock valued at $3,354,000 after buying an additional 183,870 shares during the period. Finally, ING Groep NV acquired a new position in shares of Mach Natural Resources during the 4th quarter worth about $412,000. Institutional investors and hedge funds own 78.36% of the company’s stock.

Mach Natural Resources Stock Performance

MNR traded down $0.33 during mid-day trading on Tuesday, reaching $14.14. The stock had a trading volume of 484,721 shares, compared to its average volume of 354,303. The stock has a fifty day moving average price of $16.80. The company has a market cap of $1.46 billion, a PE ratio of 5.66 and a beta of -0.79. Mach Natural Resources has a 52 week low of $13.70 and a 52 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 announced a quarterly dividend, which will be paid on Thursday, March 13th. Shareholders 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 dividend on an annualized basis and a yield of 14.14%. Mach Natural Resources’s payout ratio is presently 80.00%.

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.