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

Mach Natural Resources LP (NYSE:MNR - Get Free Report) was the target 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. Currently, 1.0% of the company's shares are short sold. Based on an average trading volume of 263,200 shares, the short-interest ratio is presently 0.7 days.

Insider Transactions at Mach Natural Resources

In related news, Director William Wallace Mcmullen purchased 5,161,290 shares of Mach Natural Resources stock in a transaction dated Friday, February 7th. The shares were acquired at an average price of $15.50 per share, for a total transaction of $79,999,995.00. Following the acquisition, the director now directly owns 74,287,410 shares in the company, valued at approximately $1,151,454,855. The trade was a 7.47 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 87.80% of the company's stock.

Hedge Funds Weigh In On Mach Natural Resources

Several institutional investors have recently bought and sold shares of the company. Raymond James Financial Inc. acquired a new position in Mach Natural Resources in the 4th quarter valued at about $5,128,000. Stifel Financial Corp grew its position in Mach Natural Resources by 23.6% in the 4th quarter. Stifel Financial Corp now owns 295,080 shares of the company's stock valued at $5,069,000 after acquiring an additional 56,306 shares in the last quarter. Sei Investments Co. grew its position in Mach Natural Resources by 8.4% in the 4th quarter. Sei Investments Co. now owns 271,608 shares of the company's stock valued at $4,666,000 after acquiring an additional 21,101 shares in the last quarter. Chicago Partners Investment Group LLC grew its position in Mach Natural Resources by 7.7% in 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 in the last quarter. Finally, Strategic Financial Concepts LLC grew its position in 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. 78.36% of the stock is owned by institutional investors and hedge funds.

Mach Natural Resources Stock Down 0.4 %

MNR traded down $0.07 on Thursday, hitting $16.32. The company had a trading volume of 432,617 shares, compared to its average volume of 326,570. Mach Natural Resources has a 1 year low of $14.46 and a 1 year high of $21.19. The stock's fifty day simple moving average is $17.03. The company has a current ratio of 1.24, a quick ratio of 1.16 and a debt-to-equity ratio of 0.56.

Mach Natural Resources Cuts Dividend

The company 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 $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 12.25%. The ex-dividend date of this dividend is Thursday, February 27th.

Wall Street Analyst Weigh In

MNR has been the topic of several analyst reports. Truist Financial lifted their price target on Mach Natural Resources from $23.00 to $24.00 and gave the stock a "buy" rating in a report on Monday, January 13th. Stifel Nicolaus boosted their price objective on shares of Mach Natural Resources from $21.00 to $23.00 and gave the company a "buy" rating in a report on Friday, February 7th. Finally, 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 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.