Mach Natural Resources LP (NYSE:MNR) Short Interest Update

Mach Natural Resources LP (NYSE:MNR) saw a significant 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 days-to-cover ratio is presently 1.0 days.

Mach Natural Resources Stock Performance

Shares of NYSE MNR traded down $0.33 during trading hours on Tuesday, hitting $14.14. The stock had a trading volume of 484,721 shares, compared to its average volume of 354,303. The company’s 50-day moving average price is $16.80. Mach Natural Resources has a 52 week low of $13.70 and a 52 week high of $21.19. The firm has a market capitalization of $1.46 billion, a P/E ratio of 5.66 and a beta of -0.79. 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. Stockholders of record on Thursday, February 27th will be paid a dividend of $0.50 per share. The ex-dividend date of this dividend is Thursday, February 27th. This represents a $2.00 annualized dividend and a dividend yield of 14.14%. Mach Natural Resources’s dividend payout ratio (DPR) is 80.00%.

Insider Activity

In related news, Director William Wallace Mcmullen bought 5,161,290 shares of the firm’s 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 transaction, the director now directly owns 74,287,410 shares of the company’s stock, valued at approximately $1,151,454,855. This represents a 7.47 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 87.80% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Franklin Resources Inc. increased its position in Mach Natural Resources by 13.7% during the third quarter. Franklin Resources Inc. now owns 138,800 shares of the company’s stock worth $2,354,000 after buying an additional 16,725 shares during the last quarter. Chicago Partners Investment Group LLC increased its holdings in shares of Mach Natural Resources by 7.7% during the 4th quarter. Chicago Partners Investment Group LLC now owns 242,118 shares of the company’s stock valued at $4,145,000 after acquiring an additional 17,215 shares during the last quarter. Strategic Financial Concepts LLC raised its stake in shares of Mach Natural Resources by 1,618.0% in the 4th quarter. Strategic Financial Concepts LLC now owns 195,234 shares of the company’s stock valued at $3,354,000 after acquiring an additional 183,870 shares in the last quarter. ING Groep NV acquired a new stake in Mach Natural Resources in the 4th quarter worth approximately $412,000. Finally, Parkside Financial Bank & Trust acquired a new stake in shares of Mach Natural Resources in the fourth quarter worth $43,000. Institutional investors own 78.36% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on MNR. Raymond James reaffirmed a “strong-buy” rating and issued a $25.00 price objective (up previously from $23.00) on shares of Mach Natural Resources in a research note on Monday, February 10th. 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, Stifel Nicolaus raised their price target on shares of Mach Natural Resources from $21.00 to $23.00 and gave the stock a “buy” rating in a report 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.