Mach Natural Resources (NYSE:MNR - Get Free Report) had its target price lifted by analysts at Stifel Nicolaus from $21.00 to $23.00 in a research note issued to investors on Friday,Benzinga reports. The firm presently has a "buy" rating on the stock. Stifel Nicolaus' price objective would suggest a potential upside of 41.28% from the company's previous close.
Separately, Truist Financial increased their price objective on Mach Natural Resources from $23.00 to $24.00 and gave the stock a "buy" rating in a research report on Monday, January 13th.
Check Out Our Latest Research Report on Mach Natural Resources
Mach Natural Resources Stock Performance
NYSE:MNR traded up $0.08 during mid-day trading on Friday, hitting $16.28. 420,204 shares of the stock traded hands, compared to its average volume of 275,122. The company has a quick ratio of 1.16, a current ratio of 1.24 and a debt-to-equity ratio of 0.56. Mach Natural Resources has a 12-month low of $14.46 and a 12-month high of $21.19.
Insider Transactions at Mach Natural Resources
In other Mach Natural Resources news, Director William Wallace Mcmullen acquired 5,161,290 shares of the stock in a transaction dated Friday, February 7th. The stock was purchased at an average cost of $15.50 per share, for a total transaction of $79,999,995.00. Following the acquisition, the director now owns 74,287,410 shares in the company, valued at $1,151,454,855. The trade was a 7.47 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 87.80% of the company's stock.
Institutional Investors Weigh In On Mach Natural Resources
Several institutional investors have recently added to or reduced their stakes in the company. Signaturefd LLC purchased a new position in shares of Mach Natural Resources during the fourth quarter valued at approximately $26,000. Hollencrest Capital Management bought a new stake in Mach Natural Resources in the fourth quarter valued at $34,000. Parkside Financial Bank & Trust purchased a new position in Mach Natural Resources during the 4th quarter valued at $43,000. Avior Wealth Management LLC raised its holdings in Mach Natural Resources by 33.3% in 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 in the last quarter. Finally, ING Groep NV purchased a new stake in shares of Mach Natural Resources in the 4th quarter worth about $412,000. Hedge funds and other institutional investors own 78.36% of the company's stock.
About Mach Natural Resources
(
Get Free Report)
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.
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