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

Mach Natural Resources LP (NYSE:MNR) saw a significant decline in short interest in the month of May. As of May 15th, there was short interest totaling 880,761 shares, a decline of 55.9% from the April 30th total of 1,997,614 shares. Currently, 4.3% of the shares of the company are short sold. Based on an average daily volume of 517,240 shares, the days-to-cover ratio is currently 1.7 days.

Mach Natural Resources Stock Performance

Shares of Mach Natural Resources stock traded up $0.05 during trading hours on Tuesday, reaching $13.41. The company’s stock had a trading volume of 263,980 shares, compared to its average volume of 500,223. The company’s 50 day simple moving average is $13.62 and its 200 day simple moving average is $12.62. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.73 and a current ratio of 0.83. Mach Natural Resources has a one year low of $10.46 and a one year high of $15.60. The stock has a market cap of $2.26 billion, a P/E ratio of 5.64 and a beta of -0.32.

Mach Natural Resources (NYSE:MNR) last posted its quarterly earnings results on Thursday, May 7th. The company reported $0.74 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.51 by $0.23. The company had revenue of $286.00 million for the quarter, compared to the consensus estimate of $397.61 million. Mach Natural Resources had a net margin of 7.46% and a return on equity of 18.46%. As a group, analysts expect that Mach Natural Resources will post 1.54 EPS for the current fiscal year.

Mach Natural Resources Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 4th. Shareholders of record on Thursday, May 21st will be given a dividend of $0.64 per share. This is a positive change from Mach Natural Resources’s previous quarterly dividend of $0.53. The ex-dividend date is Thursday, May 21st. This represents a $2.56 dividend on an annualized basis and a dividend yield of 19.1%. Mach Natural Resources’s payout ratio is presently 332.47%.

Insider Buying and Selling at Mach Natural Resources

In other news, major shareholder General Partner S.A R.L. Ikav sold 5,557,679 shares of the business’s stock in a transaction dated Wednesday, April 8th. The shares were sold at an average price of $12.81, for a total transaction of $71,193,867.99. Following the transaction, the insider directly owned 4,259,110 shares in the company, valued at $54,559,199.10. The trade was a 56.61% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Tom L. Ward purchased 153,256 shares of the company’s stock in a transaction dated Monday, April 13th. The shares were purchased at an average price of $13.05 per share, for a total transaction of $1,999,990.80. Following the completion of the purchase, the insider owned 13,295,039 shares of the company’s stock, valued at approximately $173,500,258.95. This trade represents a 1.17% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last three months, insiders have acquired 163,541 shares of company stock worth $2,142,861. 87.80% of the stock is owned by company insiders.

Institutional Trading of Mach Natural Resources

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Kayne Anderson Capital Advisors LP acquired a new stake in shares of Mach Natural Resources during the third quarter valued at approximately $252,892,000. Goldman Sachs Group Inc. grew its position in Mach Natural Resources by 120.5% during the first quarter. Goldman Sachs Group Inc. now owns 3,814,782 shares of the company’s stock valued at $59,320,000 after purchasing an additional 2,084,511 shares in the last quarter. CIBC Bancorp USA Inc. bought a new stake in Mach Natural Resources in the third quarter worth approximately $7,926,000. First Trust Advisors LP bought a new stake in Mach Natural Resources in the second quarter worth approximately $7,630,000. Finally, Clear Street Group Inc. bought a new stake in Mach Natural Resources in the third quarter worth approximately $5,638,000. 78.36% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on MNR. Truist Financial started coverage on shares of Mach Natural Resources in a report on Tuesday, March 24th. They issued a “hold” rating and a $14.00 price target on the stock. Wall Street Zen lowered shares of Mach Natural Resources from a “buy” rating to a “hold” rating in a research report on Sunday, May 10th. Weiss Ratings lowered shares of Mach Natural Resources from a “hold (c)” rating to a “hold (c-)” rating in a research report on Monday, May 18th. Finally, Zacks Research lowered shares of Mach Natural Resources from a “strong-buy” rating to a “hold” rating in a report on Monday, May 25th. Two equities research analysts have rated the stock with a Strong Buy rating, two have given a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $18.50.

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. The company was incorporated in 2023 and is headquartered in Oklahoma City, Oklahoma.