Stifel Nicolaus Forecasts Strong Price Appreciation for Mach Natural Resources (NYSE:MNR) Stock

Mach Natural Resources (NYSE:MNR) had its price target lifted by Stifel Nicolaus from $21.00 to $23.00 in a research note released on Friday,Benzinga reports. They currently have a buy rating on the stock.

Separately, Truist Financial raised their price objective on 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

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 12 month low of $14.46 and a 12 month high of $21.19.

Hedge Funds Weigh In On Mach Natural Resources

Several hedge funds have recently made changes to their positions in the business. Franklin Resources Inc. raised 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 worth $2,354,000 after acquiring an additional 16,725 shares in the last quarter. Avior Wealth Management LLC increased its position in shares of Mach Natural Resources by 33.3% during the 4th quarter. Avior Wealth Management LLC now owns 12,000 shares of the company’s stock worth $206,000 after purchasing an additional 3,000 shares during the last quarter. Chicago Partners Investment Group LLC increased its position 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 purchasing an additional 17,215 shares during the last quarter. Strategic Financial Concepts LLC raised 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 purchasing an additional 183,870 shares in the last quarter. Finally, ING Groep NV acquired a new stake in shares of Mach Natural Resources in the 4th quarter valued at approximately $412,000. 78.36% of the stock is owned by institutional investors.

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.