Mach Natural Resources (NYSE:MNR) Price Target Raised to $24.00

Mach Natural Resources (NYSE:MNR) had its price target lifted by analysts at Truist Financial from $23.00 to $24.00 in a report issued on Monday,Benzinga reports. The firm presently has a “buy” rating on the stock. Truist Financial’s price target suggests a potential upside of 40.52% from the stock’s current price.

Mach Natural Resources Price Performance

Shares of MNR traded up $0.04 during mid-day trading on Monday, hitting $17.08. The stock had a trading volume of 36,020 shares, compared to its average volume of 148,057. The firm has a market cap of $1.77 billion, a PE ratio of 7.15 and a beta of -0.79. Mach Natural Resources has a 52 week low of $14.46 and a 52 week high of $21.19.

Institutional Trading of Mach Natural Resources

An institutional investor recently raised its position in Mach Natural Resources stock. Franklin Resources Inc. lifted its stake in shares of Mach Natural Resources LP (NYSE:MNR) by 13.7% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 138,800 shares of the company’s stock after purchasing an additional 16,725 shares during the quarter. Franklin Resources Inc. owned 0.13% of Mach Natural Resources worth $2,354,000 as of its most recent SEC filing. Institutional investors own 78.36% of the company’s stock.

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.