Insider Buying: Mach Natural Resources LP (NYSE:MNR) Director Purchases 5,161,290 Shares of Stock

Mach Natural Resources LP (NYSE:MNR) Director William Wallace Mcmullen acquired 5,161,290 shares of the firm’s stock in a transaction on Friday, February 7th. The shares were bought at an average price of $15.50 per share, for a total transaction of $79,999,995.00. Following the completion of 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 transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.

Mach Natural Resources Price Performance

Shares of NYSE:MNR opened at $16.20 on Wednesday. Mach Natural Resources LP 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 quick ratio of 1.16 and a current ratio of 1.24.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Signaturefd LLC bought a new position in Mach Natural Resources in the fourth quarter worth approximately $26,000. Hollencrest Capital Management bought a new position in Mach Natural Resources in the fourth quarter worth approximately $34,000. Parkside Financial Bank & Trust bought a new position in Mach Natural Resources in the fourth quarter worth approximately $43,000. Avior Wealth Management LLC grew its stake in Mach Natural Resources by 33.3% in 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 in the last quarter. Finally, ING Groep NV bought a new position in Mach Natural Resources in the fourth quarter worth approximately $412,000. Institutional investors own 78.36% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on MNR. 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 research note on Monday, January 13th. Raymond James reaffirmed a “strong-buy” rating and set a $25.00 target price (up previously from $23.00) on shares of Mach Natural Resources in a research note on Monday. Finally, Stifel Nicolaus upped their target price on Mach Natural Resources from $21.00 to $23.00 and gave the company a “buy” rating in a research note on Friday, February 7th.

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.