Mach Natural Resources (NYSE:MNR) Given New $23.00 Price Target at Stifel Nicolaus

Mach Natural Resources (NYSE:MNR) had its price target upped by Stifel Nicolaus from $21.00 to $23.00 in a research report report published on Friday,Benzinga reports. Stifel Nicolaus currently has a buy rating on the stock.

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

Mach Natural Resources Trading Up 1.6 %

Shares of NYSE MNR opened at $16.07 on Friday. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.24 and a quick ratio of 1.16. 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 hedge funds have recently bought and sold shares of MNR. Parkside Financial Bank & Trust bought a new position in shares of Mach Natural Resources during the 4th quarter valued at about $43,000. Avior Wealth Management LLC increased 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 buying an additional 3,000 shares in the last quarter. ING Groep NV bought a new position in shares of Mach Natural Resources in the fourth quarter valued at $412,000. Franklin Resources Inc. lifted its position 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 valued at $2,354,000 after acquiring an additional 16,725 shares during the last quarter. Finally, 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. 78.36% of the stock is 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.