Mach Natural Resources (NYSE:MNR) Price Target Raised to $23.00 at Stifel Nicolaus

Mach Natural Resources (NYSE:MNR) had its price target raised by Stifel Nicolaus from $21.00 to $23.00 in a research note issued to investors on Friday,Benzinga reports. The firm currently has a buy rating on the stock.

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

Mach Natural Resources Trading Up 1.6 %

Mach Natural Resources stock opened at $16.07 on Friday. Mach Natural Resources has a twelve month low of $14.46 and a twelve month high of $21.19. The company has a current ratio of 1.24, a quick ratio of 1.16 and a debt-to-equity ratio of 0.56.

Hedge Funds Weigh In On Mach Natural Resources

Several hedge funds have recently bought and sold shares of the business. Raymond James Financial Inc. bought a new stake in shares of Mach Natural Resources during the 4th quarter worth about $5,128,000. Parkside Financial Bank & Trust acquired a new stake in Mach Natural Resources in the 4th quarter worth approximately $43,000. ING Groep NV bought a new stake in Mach Natural Resources during the fourth quarter worth approximately $412,000. Strategic Financial Concepts LLC grew its holdings in Mach Natural Resources by 1,618.0% during the fourth quarter. Strategic Financial Concepts LLC now owns 195,234 shares of the company’s stock valued at $3,354,000 after purchasing an additional 183,870 shares during the last quarter. Finally, Chicago Partners Investment Group LLC raised its position in shares of 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 valued at $4,145,000 after purchasing an additional 17,215 shares during the period. 78.36% of the stock is owned by institutional investors and hedge funds.

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.