Shares of Mach Natural Resources LP (NYSE:MNR - Get Free Report) gapped down prior to trading on Thursday . The stock had previously closed at $17.18, but opened at $15.79. Mach Natural Resources shares last traded at $15.72, with a volume of 326,761 shares trading hands.
Analysts Set New Price Targets
MNR has been the topic of a number of recent analyst reports. Stifel Nicolaus boosted their price target on shares of Mach Natural Resources from $21.00 to $23.00 and gave the stock a "buy" rating in a research report on Friday. Truist Financial raised their price target on shares of Mach Natural Resources from $23.00 to $24.00 and gave the company a "buy" rating in a research report on Monday, January 13th. Finally, Raymond James reissued a "strong-buy" rating and issued a $25.00 price objective (up from $23.00) on shares of Mach Natural Resources in a research note on Monday.
Get Our Latest Research Report on Mach Natural Resources
Mach Natural Resources Trading Up 1.3 %
The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.16 and a current ratio of 1.24. The firm has a market capitalization of $1.68 billion, a price-to-earnings ratio of 6.11 and a beta of -0.79.
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently bought and sold shares of the business. Franklin Resources Inc. raised its stake 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 worth $2,354,000 after purchasing an additional 16,725 shares during the period. Chicago Partners Investment Group LLC raised its position in Mach Natural Resources by 7.7% in the fourth quarter. Chicago Partners Investment Group LLC now owns 242,118 shares of the company's stock worth $4,145,000 after acquiring an additional 17,215 shares during the period. Strategic Financial Concepts LLC boosted its stake in Mach Natural Resources by 1,618.0% in the fourth quarter. Strategic Financial Concepts LLC now owns 195,234 shares of the company's stock valued at $3,354,000 after acquiring an additional 183,870 shares during the last quarter. Avior Wealth Management LLC increased its stake 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. Finally, Raymond James Financial Inc. bought a new stake in shares of Mach Natural Resources in the 4th quarter worth approximately $5,128,000. Hedge funds and other institutional investors own 78.36% of the company's stock.
About Mach Natural Resources
(
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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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