William Wallace Mcmullen Purchases 5,161,290 Shares of Mach Natural Resources LP (NYSE:MNR) Stock

Mach Natural Resources LP (NYSE:MNR) Director William Wallace Mcmullen acquired 5,161,290 shares of the company’s stock in a transaction dated Friday, February 7th. The stock was acquired at an average cost of $15.50 per share, with a total value of $79,999,995.00. Following the purchase, the director now owns 74,287,410 shares of the company’s stock, valued at approximately $1,151,454,855. This trade represents a 7.47 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website.

Mach Natural Resources Stock Up 0.0 %

NYSE:MNR opened at $16.20 on Wednesday. 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 LP has a 12 month low of $14.46 and a 12 month high of $21.19.

Institutional Investors Weigh In On Mach Natural Resources

A number of hedge funds have recently made changes to their positions in the company. Signaturefd LLC purchased a new stake in Mach Natural Resources during the fourth quarter valued at approximately $26,000. Hollencrest Capital Management purchased a new stake in Mach Natural Resources during the fourth quarter valued at approximately $34,000. Parkside Financial Bank & Trust purchased a new stake in Mach Natural Resources during the fourth quarter valued at approximately $43,000. Avior Wealth Management LLC raised its position in Mach Natural Resources by 33.3% during the fourth quarter. Avior Wealth Management LLC now owns 12,000 shares of the company’s stock valued at $206,000 after purchasing an additional 3,000 shares during the period. Finally, ING Groep NV purchased a new stake in Mach Natural Resources during the fourth quarter valued at approximately $412,000. 78.36% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have recently weighed in on MNR. Raymond James reaffirmed a “strong-buy” rating and issued a $25.00 price objective (up previously from $23.00) on shares of Mach Natural Resources in a research note on Monday. Truist Financial upped 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. Finally, Stifel Nicolaus upped their price objective on Mach Natural Resources from $21.00 to $23.00 and gave the stock a “buy” rating in a research note on Friday, February 7th.

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.