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

Mach Natural Resources (NYSE:MNR)‘s stock had its “strong-buy” rating reissued by research analysts at Raymond James in a report released on Monday,Benzinga reports. They currently have a $25.00 target price on the stock, up from their previous target price of $23.00. Raymond James’ price target indicates a potential upside of 54.42% from the company’s current price.

Other equities research analysts have also issued research reports about the company. Truist Financial increased their target price on Mach Natural Resources from $23.00 to $24.00 and gave the company a “buy” rating in a research note on Monday, January 13th. Stifel Nicolaus increased their target price on Mach Natural Resources from $21.00 to $23.00 and gave the company a “buy” rating in a research note on Friday.

Mach Natural Resources Price Performance

NYSE:MNR traded up $0.15 on Monday, hitting $16.19. 172,609 shares of the stock were exchanged, compared to its average volume of 258,888. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.16 and a current ratio of 1.24. Mach Natural Resources has a fifty-two week low of $14.46 and a fifty-two week high of $21.19.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Hollencrest Capital Management bought a new position in Mach Natural Resources during the 4th quarter worth approximately $34,000. Raymond James Financial Inc. bought a new position in Mach Natural Resources during the 4th quarter worth approximately $5,128,000. Parkside Financial Bank & Trust bought a new position in Mach Natural Resources during the 4th quarter worth approximately $43,000. ING Groep NV bought a new position in Mach Natural Resources during the 4th quarter worth approximately $412,000. Finally, Strategic Financial Concepts LLC lifted its holdings in 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 last quarter. Hedge funds and other 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.