Mach Natural Resources (NYSE:MNR - Get Free Report) had its price objective boosted by stock analysts at Truist Financial from $23.00 to $24.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage currently has a "buy" rating on the stock. Truist Financial's target price indicates a potential upside of 40.02% from the stock's current price.
Mach Natural Resources Price Performance
Mach Natural Resources stock traded up $0.10 during midday trading on Monday, reaching $17.14. 143,221 shares of the stock traded hands, compared to its average volume of 163,389. The stock has a market capitalization of $1.77 billion, a price-to-earnings ratio of 7.17 and a beta of -0.79. Mach Natural Resources has a 12-month low of $14.46 and a 12-month high of $21.19.
Institutional Inflows and Outflows
A hedge fund recently raised its stake in Mach Natural Resources stock. Franklin Resources Inc. raised its holdings in Mach Natural Resources LP (NYSE:MNR - Free Report) by 13.7% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 138,800 shares of the company's stock after buying an additional 16,725 shares during the period. Franklin Resources Inc. owned about 0.13% of Mach Natural Resources worth $2,354,000 as of its most recent SEC filing. 78.36% of the stock is owned by institutional investors and hedge funds.
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.
Featured Stories
Before you consider Mach Natural Resources, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Mach Natural Resources wasn't on the list.
While Mach Natural Resources currently has a "Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Thinking about investing in Meta, Roblox, or Unity? Click the link to learn what streetwise investors need to know about the metaverse and public markets before making an investment.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
