Mach Natural Resources LP (NYSE:MNR) Short Interest Down 51.0% in March

Mach Natural Resources LP (NYSE:MNR - Get Free Report) was the target of a significant decline in short interest in the month of March. As of March 31st, there was short interest totalling 360,700 shares, a decline of 51.0% from the March 15th total of 735,700 shares. Based on an average daily volume of 325,300 shares, the short-interest ratio is presently 1.1 days. Approximately 1.3% of the shares of the company are sold short.

Insider Activity

In other Mach Natural Resources news, Director William Wallace Mcmullen bought 5,161,290 shares of the company'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 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 position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 87.80% of the company's stock.

Institutional Investors Weigh In On Mach Natural Resources

Several institutional investors and hedge funds have recently made changes to their positions in MNR. Raymond James Financial Inc. bought a new position in shares of Mach Natural Resources in the 4th quarter worth about $5,128,000. Strategic Financial Concepts LLC lifted its holdings 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 worth $3,354,000 after purchasing an additional 183,870 shares during the last quarter. Invesco Ltd. acquired a new position in Mach Natural Resources during the 4th quarter valued at approximately $3,079,000. Stifel Financial Corp boosted its position in shares of Mach Natural Resources by 23.6% during the fourth quarter. Stifel Financial Corp now owns 295,080 shares of the company's stock worth $5,069,000 after buying an additional 56,306 shares during the period. Finally, Zuckerman Investment Group LLC increased its position in Mach Natural Resources by 34.6% in the 4th quarter. Zuckerman Investment Group LLC now owns 105,000 shares of the company's stock valued at $1,843,000 after acquiring an additional 27,000 shares during the period. 78.36% of the stock is owned by institutional investors and hedge funds.

Mach Natural Resources Trading Down 2.4 %

NYSE MNR traded down $0.32 during trading hours on Monday, reaching $13.14. 52,711 shares of the company traded hands, compared to its average volume of 212,466. The stock has a market capitalization of $1.55 billion, a PE ratio of 6.92 and a beta of -0.44. The stock has a 50 day simple moving average of $14.72. 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 has a 12 month low of $12.40 and a 12 month high of $21.19.

Mach Natural Resources Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 13th. Shareholders of record on Thursday, February 27th were issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 15.22%. The ex-dividend date was Thursday, February 27th. Mach Natural Resources's dividend payout ratio is presently 105.26%.

Wall Street Analysts Forecast Growth

MNR has been the topic of several recent analyst reports. Raymond James reiterated a "strong-buy" rating and set a $25.00 price objective (up from $23.00) on shares of Mach Natural Resources in a report on Monday, February 10th. Truist Financial lifted 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 boosted 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.

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.