Mach Natural Resources (NYSE:MNR) Earns Strong-Buy Rating from Raymond James

Mach Natural Resources (NYSE:MNR)‘s stock had its “strong-buy” rating reiterated by investment analysts at Raymond James in a research note issued on Monday,Benzinga reports. They presently have a $25.00 price objective on the stock, up from their prior price objective of $23.00. Raymond James’ price target points to a potential upside of 54.42% from the company’s previous close.

MNR has been the topic of several other reports. Stifel Nicolaus raised their target price on Mach Natural Resources from $21.00 to $23.00 and gave the company a “buy” rating in a research report on Friday. Truist Financial raised their target price on Mach Natural Resources from $23.00 to $24.00 and gave the company a “buy” rating in a research report on Monday, January 13th.

Mach Natural Resources Stock Performance

Shares of NYSE MNR traded up $0.15 during mid-day trading on Monday, hitting $16.19. The company had a trading volume of 172,609 shares, compared to its average volume of 258,888. Mach Natural Resources has a 12 month low of $14.46 and a 12 month high of $21.19. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.24 and a quick ratio of 1.16.

Hedge Funds Weigh In On Mach Natural Resources

Several hedge funds have recently modified their holdings of the company. Raymond James Financial Inc. bought a new stake in shares of Mach Natural Resources during the 4th quarter worth $5,128,000. Strategic Financial Concepts LLC boosted its stake 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 acquiring an additional 183,870 shares in the last quarter. ING Groep NV bought a new stake in shares of Mach Natural Resources during the 4th quarter worth $412,000. Chicago Partners Investment Group LLC boosted its stake in shares of Mach Natural Resources by 7.7% during the 4th quarter. Chicago Partners Investment Group LLC now owns 242,118 shares of the company’s stock worth $4,145,000 after acquiring an additional 17,215 shares in the last quarter. Finally, Franklin Resources Inc. boosted its stake in shares of Mach Natural Resources by 13.7% during the 3rd quarter. Franklin Resources Inc. now owns 138,800 shares of the company’s stock worth $2,354,000 after acquiring an additional 16,725 shares in the last quarter. 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.