Short Interest in Mach Natural Resources LP (NYSE:MNR) Rises By 24.5%

Mach Natural Resources LP (NYSE:MNR) was the target of a significant growth in short interest in December. As of December 31st, there was short interest totalling 124,300 shares, a growth of 24.5% from the December 15th total of 99,800 shares. Based on an average trading volume of 208,300 shares, the short-interest ratio is presently 0.6 days. Currently, 0.7% of the shares of the company are short sold.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Mach Natural Resources stock. Avior Wealth Management LLC lifted its stake in shares of Mach Natural Resources LP (NYSE:MNR) by 33.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 12,000 shares of the company’s stock after purchasing an additional 3,000 shares during the quarter. Avior Wealth Management LLC’s holdings in Mach Natural Resources were worth $206,000 as of its most recent filing with the Securities and Exchange Commission. Hedge funds and other institutional investors own 78.36% of the company’s stock.

Analysts Set New Price Targets

Separately, Truist Financial raised their price objective on Mach Natural Resources from $23.00 to $24.00 and gave the stock a “buy” rating in a research note on Monday, January 13th.

Mach Natural Resources Stock Up 0.3 %

MNR stock traded up $0.05 during mid-day trading on Friday, hitting $17.66. The stock had a trading volume of 138,928 shares, compared to its average volume of 184,875. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.24 and a quick ratio of 1.16. Mach Natural Resources has a 52 week low of $14.46 and a 52 week high of $21.19.

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.