Mach Natural Resources (NYSE:MNR) Stock Price Expected to Rise, Truist Financial Analyst Says

Mach Natural Resources (NYSE:MNR) had its target price hoisted by stock analysts at Truist Financial from $23.00 to $24.00 in a research note issued on Monday,Benzinga reports. The firm presently has a “buy” rating on the stock. Truist Financial’s price objective suggests a potential upside of 36.75% from the company’s previous close.

Mach Natural Resources Price Performance

Shares of MNR stock opened at $17.55 on Monday. Mach Natural Resources has a 12-month low of $14.46 and a 12-month high of $21.19. The company has a market cap of $1.82 billion, a price-to-earnings ratio of 7.34 and a beta of -0.79.

Institutional Trading of Mach Natural Resources

A hedge fund recently raised its stake in Mach Natural Resources stock. Franklin Resources Inc. grew its holdings in Mach Natural Resources LP (NYSE:MNR) by 13.7% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 138,800 shares of the company’s stock after acquiring an additional 16,725 shares during the quarter. Franklin Resources Inc. owned 0.13% of Mach Natural Resources worth $2,354,000 as of its most recent SEC filing. Institutional investors own 78.36% of the company’s stock.

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.