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

Mach Natural Resources (NYSE:MNR) had its target price raised by equities research analysts at Stifel Nicolaus from $21.00 to $23.00 in a research note issued to investors on Friday,Benzinga reports. The firm presently has a “buy” rating on the stock. Stifel Nicolaus’ price objective points to a potential upside of 45.16% from the company’s current price.

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

Mach Natural Resources Stock Up 0.2 %

Mach Natural Resources stock traded up $0.03 during midday trading on Friday, hitting $15.85. 165,821 shares of the stock were exchanged, compared to its average volume of 241,231. Mach Natural Resources has a fifty-two week low of $14.46 and a fifty-two week 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 Investors Weigh In On Mach Natural Resources

A number of institutional investors have recently made changes to their positions in the stock. Franklin Resources Inc. grew its holdings 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 in the last quarter. Avior Wealth Management LLC grew its holdings in shares of Mach Natural Resources by 33.3% in 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 in the last quarter. Chicago Partners Investment Group LLC grew its holdings in shares of Mach Natural Resources by 7.7% in the fourth quarter. Chicago Partners Investment Group LLC now owns 242,118 shares of the company’s stock valued at $4,145,000 after purchasing an additional 17,215 shares in the last quarter. Strategic Financial Concepts LLC grew its holdings in shares of Mach Natural Resources by 1,618.0% in the fourth quarter. Strategic Financial Concepts LLC now owns 195,234 shares of the company’s stock valued at $3,354,000 after purchasing an additional 183,870 shares in the last quarter. Finally, ING Groep NV acquired a new position in shares of Mach Natural Resources in the fourth quarter valued at approximately $412,000. 78.36% of the stock is currently owned by institutional investors and hedge funds.

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.