Mach Natural Resources LP (NYSE:MNR) Sees Large Drop in Short Interest

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

Analyst Ratings Changes

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

Insider Buying and Selling

In other Mach Natural Resources news, insider Tom L. Ward acquired 153,256 shares of the company’s stock in a transaction on Monday, April 13th. The stock was acquired at an average price of $13.05 per share, for a total transaction of $1,999,990.80. Following the acquisition, the insider owned 13,295,039 shares in the company, valued at $173,500,258.95. This represents a 1.17% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, major shareholder General Partner S.A R.L. Ikav sold 5,557,679 shares of the stock in a transaction that occurred on Wednesday, April 8th. The stock was sold at an average price of $12.81, for a total value of $71,193,867.99. Following the completion of the sale, the insider owned 4,259,110 shares of the company’s stock, valued at approximately $54,559,199.10. This trade represents a 56.61% decrease in their position. The SEC filing for this sale provides additional information. Insiders have acquired 163,541 shares of company stock valued at $2,142,861 over the last ninety days. 87.80% of the stock is owned by insiders.

Institutional Trading of Mach Natural Resources

A number of hedge funds and other institutional investors have recently modified their holdings of MNR. Kayne Anderson Capital Advisors LP bought a new position in shares of Mach Natural Resources in the 3rd quarter worth about $252,892,000. Goldman Sachs Group Inc. boosted its stake 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 worth $59,320,000 after acquiring an additional 2,084,511 shares in the last quarter. CIBC Bancorp USA Inc. purchased a new stake in Mach Natural Resources in the third quarter worth about $7,926,000. First Trust Advisors LP purchased a new stake in Mach Natural Resources in the second quarter worth about $7,630,000. Finally, Clear Street Group Inc. bought a new position in shares of Mach Natural Resources during the third quarter valued at approximately $5,638,000. 78.36% of the stock is owned by hedge funds and other institutional investors.

Mach Natural Resources Stock Down 1.3%

Shares of MNR stock traded down $0.17 during midday trading on Friday, reaching $13.29. 198,208 shares of the stock were exchanged, compared to its average volume of 505,833. Mach Natural Resources has a 1 year low of $10.46 and a 1 year high of $15.60. The firm has a market cap of $2.24 billion, a PE ratio of 17.25 and a beta of -0.33. The company’s 50 day moving average is $13.63 and its two-hundred day moving average is $12.61. The company has a current ratio of 0.83, a quick ratio of 0.73 and a debt-to-equity ratio of 0.61.

Mach Natural Resources (NYSE:MNR) last released its earnings results on Thursday, May 7th. The company reported $0.74 EPS for the quarter, beating analysts’ consensus estimates of $0.51 by $0.23. Mach Natural Resources had a return on equity of 18.46% and a net margin of 7.46%.The company had revenue of $286.00 million during the quarter, compared to analysts’ expectations of $397.61 million. On average, equities research analysts predict that Mach Natural Resources will post 1.54 EPS for the current year.

Mach Natural Resources Increases Dividend

The company also recently disclosed 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 an increase from Mach Natural Resources’s previous quarterly dividend of $0.53. This represents a $2.56 annualized dividend and a yield of 19.3%. The ex-dividend date of this dividend is Thursday, May 21st. Mach Natural Resources’s payout ratio is 332.47%.

About Mach Natural Resources

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.