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

Mach Natural Resources LP (NYSE:MNR) experienced a notable rise in short interest during January. As of January 31st, the total short interest reached 188,000 shares, marking a significant increase of 43.3% from the previous total of 131,200 shares noted on January 15th. Given the average daily trading volume of 263,200 shares, the current days-to-cover ratio stands at 0.7 days. This indicates that approximately 1.0% of the company's shares are currently sold short.

Mach Natural Resources Trading Performance

During trading hours on Friday, shares of NYSE MNR increased by $0.01, reaching a price of $16.13. The trading volume for the day was 637,919 shares, which is higher than the average volume of 253,749 shares. Over the past year, Mach Natural Resources has seen a low of $14.46 and a high of $21.19. The company also maintains a debt-to-equity ratio of 0.56, a current ratio of 1.24, and a quick ratio of 1.16.

Dividend Announcement

Recently, the company declared a quarterly dividend that is set to be paid on Thursday, March 13th. Shareholders who are on record by February 27th will receive a dividend of $0.50 per share. The ex-dividend date is scheduled for February 27th, translating to an annualized dividend of $2.00 and a yield of 12.40%.

Insider Transactions

In related news, Director William Wallace McMullen purchased 5,161,290 shares in a transaction that took place on February 7th. The shares were bought at an average price of $15.50 each, totaling approximately $79,999,995. Following this acquisition, the director now holds 74,287,410 shares in the company, valued at around $1,151,454,855. This purchase reflects a 7.47% increase in the insider’s ownership. Details of this transaction were made public through a filing with the Securities and Exchange Commission.

Institutional Investment Activity

Several institutional investors have recently adjusted their holdings in Mach Natural Resources. For instance, Susquehanna Fundamental Investments LLC acquired a new stake in the company valued at around $364,000 in the fourth quarter. Stifel Financial Corp increased its stake by 23.6%, bringing its holdings to 295,080 shares, valued at about $5,069,000 after adding 56,306 shares during the last quarter. XTX Topco Ltd also raised its stake by 11.5%, and Rockefeller Capital Management L.P. increased its holdings by 10.9%. Meanwhile, Zuckerman Investment Group LLC boosted its stake by 34.6%. On the whole, institutional investors own 78.36% of the company's stock.

Analysts' Price Target Adjustments

In latest research reports, several analysts have updated their price targets for Mach Natural Resources. Stifel Nicolaus increased their price target from $21.00 to $23.00 while assigning a "buy" rating. Similarly, Truist Financial raised their target from $23.00 to $24.00, maintaining a "buy" stance. Raymond James also reiterated a "strong-buy" rating and upped their target to $25.00, up from $23.00.

About Mach Natural Resources

Mach Natural Resources LP operates as an independent upstream oil and gas company. It primarily focuses on the acquisition, development, and production of oil, natural gas, and natural gas liquids reserves situated in the Anadarko Basin region, covering areas in Western Oklahoma, Southern Kansas, and the Texas panhandle. Additionally, the company owns various midstream assets and has infrastructure for water management.

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