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

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

Separately, Truist Financial increased 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 note on Monday, January 13th.

Mach Natural Resources Stock Performance

Shares of NYSE:MNR traded up $0.03 during midday trading on Friday, reaching $15.85. The company’s stock had a trading volume of 165,821 shares, compared to its average volume of 241,231. Mach Natural Resources has a twelve month low of $14.46 and a twelve month high of $21.19. The company has a current ratio of 1.24, a quick ratio of 1.16 and a debt-to-equity ratio of 0.56.

Institutional Trading of Mach Natural Resources

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Raymond James Financial Inc. acquired a new stake in Mach Natural Resources during the fourth quarter valued at $5,128,000. Chicago Partners Investment Group LLC lifted its holdings in Mach Natural Resources by 7.7% during 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 lifted its holdings in Mach Natural Resources by 1,618.0% during 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. Franklin Resources Inc. lifted its holdings in Mach Natural Resources by 13.7% during 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. Finally, ING Groep NV purchased a new position in Mach Natural Resources during the fourth quarter valued at $412,000. Institutional investors and hedge funds 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.