Mach Natural Resources (NYSE:MNR) Price Target Raised to $23.00

Mach Natural Resources (NYSE:MNR) had its price objective increased by Stifel Nicolaus from $21.00 to $23.00 in a research report released on Friday morning,Benzinga reports. They currently have a buy rating on the stock.

Separately, Truist Financial upped their price target on Mach Natural Resources from $23.00 to $24.00 and gave the company a “buy” rating in a report on Monday, January 13th.

Mach Natural Resources Stock Performance

Shares of MNR stock opened at $16.07 on Friday. Mach Natural Resources has a 1 year low of $14.46 and a 1 year high of $21.19. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.16 and a current ratio of 1.24.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Raymond James Financial Inc. purchased a new position in shares of Mach Natural Resources during the 4th quarter valued at $5,128,000. Chicago Partners Investment Group LLC lifted its holdings in Mach Natural Resources by 7.7% in the 4th quarter. Chicago Partners Investment Group LLC now owns 242,118 shares of the company’s stock worth $4,145,000 after purchasing an additional 17,215 shares during the last quarter. Strategic Financial Concepts LLC boosted its holdings in shares of Mach Natural Resources by 1,618.0% during the 4th quarter. Strategic Financial Concepts LLC now owns 195,234 shares of the company’s stock worth $3,354,000 after buying an additional 183,870 shares during the period. Franklin Resources Inc. grew its position in shares of Mach Natural Resources by 13.7% in the third quarter. Franklin Resources Inc. now owns 138,800 shares of the company’s stock valued at $2,354,000 after purchasing an additional 16,725 shares during the last quarter. Finally, ING Groep NV bought a new position in Mach Natural Resources in the 4th quarter worth approximately $412,000. Hedge funds and other institutional investors own 78.36% of the company’s stock.

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.