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

Mach Natural Resources LP (NYSE:MNR) was the target of a significant growth in short interest during the month of February. As of February 28th, there was short interest totalling 679,900 shares, a growth of 126.0% from the February 13th total of 300,800 shares. Based on an average daily volume of 320,200 shares, the short-interest ratio is currently 2.1 days. Approximately 4.3% of the shares of the company are sold short.

Mach Natural Resources Price Performance

MNR opened at $14.35 on Friday. The stock has a 50 day moving average price of $16.38. The company has a current ratio of 1.24, a quick ratio of 1.16 and a debt-to-equity ratio of 0.56. The company has a market capitalization of $1.48 billion, a price-to-earnings ratio of 5.74 and a beta of -0.38. Mach Natural Resources has a 1-year low of $13.53 and a 1-year high of $21.19.

Mach Natural Resources Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 13th. Investors of record on Thursday, February 27th were issued a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 13.94%. The ex-dividend date of this dividend was Thursday, February 27th. Mach Natural Resources’s dividend payout ratio is currently 80.00%.

Insiders Place Their Bets

In other Mach Natural Resources news, Director William Wallace Mcmullen acquired 5,161,290 shares of the stock in a transaction dated 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 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 acquisition was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 87.80% of the company’s stock.

Institutional Investors Weigh In On Mach Natural Resources

Institutional investors and hedge funds have recently bought and sold shares of the business. Franklin Resources Inc. boosted its position in shares of 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 acquiring an additional 16,725 shares during the last quarter. Chicago Partners Investment Group LLC boosted 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 purchasing an additional 17,215 shares during the last quarter. Strategic Financial Concepts LLC boosted its holdings in shares of Mach Natural Resources by 1,618.0% during the 4th quarter. Strategic Financial Concepts LLC now owns 195,234 shares of the company’s stock valued at $3,354,000 after purchasing an additional 183,870 shares during the last quarter. ING Groep NV purchased a new position in shares of Mach Natural Resources during the fourth quarter valued at about $412,000. Finally, Parkside Financial Bank & Trust bought a new stake in shares of Mach Natural Resources in the fourth quarter worth about $43,000. 78.36% of the stock is owned by institutional investors.

Analysts Set New Price Targets

MNR has been the topic of several recent research reports. Truist Financial increased their price target on shares of Mach Natural Resources from $23.00 to $24.00 and gave the stock a “buy” rating in a research report on Monday, January 13th. Raymond James restated a “strong-buy” rating and issued a $25.00 price objective (up from $23.00) on shares of Mach Natural Resources in a research note on Monday, February 10th. Finally, Stifel Nicolaus lifted their target price on Mach Natural Resources from $21.00 to $23.00 and gave the company a “buy” rating in a research 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.