Short Interest in Mach Natural Resources LP (NYSE:MNR) Grows By 43.3%

Mach Natural Resources LP (NYSE:MNR) was the recipient of a large increase in short interest in the month of January. As of January 31st, there was short interest totalling 188,000 shares, an increase of 43.3% from the January 15th total of 131,200 shares. Based on an average daily trading volume, of 263,200 shares, the short-interest ratio is presently 0.7 days. Approximately 1.0% of the company’s shares are sold short.

Mach Natural Resources Trading Up 0.1 %

Shares of NYSE MNR traded up $0.01 during trading hours on Friday, hitting $16.13. The stock had a trading volume of 637,919 shares, compared to its average volume of 253,749. Mach Natural Resources has a 52 week low of $14.46 and a 52 week 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.

Mach Natural Resources Cuts Dividend

The business 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 of this dividend is Thursday, February 27th. This represents a $2.00 dividend on an annualized basis and a yield of 12.40%.

Insiders Place Their Bets

In related news, Director William Wallace Mcmullen acquired 5,161,290 shares of the business’s stock in a transaction on Friday, February 7th. The shares were purchased 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 in the company, valued at approximately $1,151,454,855. This represents a 7.47 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 87.80% of the company’s stock.

Institutional Investors Weigh In On Mach Natural Resources

A number of large investors have recently added to or reduced their stakes in the stock. Susquehanna Fundamental Investments LLC bought a new stake in shares of Mach Natural Resources in the fourth quarter valued at approximately $364,000. Stifel Financial Corp raised its stake in shares of Mach Natural Resources by 23.6% in the fourth quarter. Stifel Financial Corp now owns 295,080 shares of the company’s stock valued at $5,069,000 after purchasing an additional 56,306 shares in the last quarter. XTX Topco Ltd raised its stake in shares of Mach Natural Resources by 11.5% in the fourth 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. Rockefeller Capital Management L.P. raised its stake in shares of Mach Natural Resources by 10.9% in the fourth quarter. Rockefeller Capital Management L.P. now owns 30,610 shares of the company’s stock valued at $526,000 after purchasing an additional 3,000 shares in the last quarter. Finally, Zuckerman Investment Group LLC raised its stake in shares of Mach Natural Resources by 34.6% in the fourth quarter. Zuckerman Investment Group LLC now owns 105,000 shares of the company’s stock valued at $1,843,000 after purchasing an additional 27,000 shares in the last quarter. Institutional investors own 78.36% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on the company. Stifel Nicolaus boosted their price objective on Mach Natural Resources from $21.00 to $23.00 and gave the stock a “buy” rating in a report on Friday, February 7th. Truist Financial upped their target price on Mach Natural Resources from $23.00 to $24.00 and gave the company a “buy” rating in a report on Monday, January 13th. Finally, Raymond James reiterated 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.

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.