Mach Natural Resources’ (MNR) “Strong-Buy” Rating Reaffirmed at Raymond James

Raymond James reaffirmed their strong-buy rating on shares of Mach Natural Resources (NYSE:MNR) in a research note issued to investors on Monday,Benzinga reports. They currently have a $25.00 price target on the stock, up from their prior price target of $23.00.

MNR has been the subject of a number of other research reports. Stifel Nicolaus boosted their target price on Mach Natural Resources from $21.00 to $23.00 and gave the stock a “buy” rating in a research report on Friday. Truist Financial lifted their price target on shares of Mach Natural Resources from $23.00 to $24.00 and gave the stock a “buy” rating in a research note on Monday, January 13th.

Mach Natural Resources Stock Performance

NYSE MNR opened at $16.26 on Monday. The company has a current ratio of 1.24, a quick ratio of 1.16 and a debt-to-equity ratio of 0.56. Mach Natural Resources has a twelve month low of $14.46 and a twelve month high of $21.19. The stock has a market cap of $1.68 billion, a price-to-earnings ratio of 6.11 and a beta of -0.79.

Insider Transactions at Mach Natural Resources

In other news, Director William Wallace Mcmullen bought 5,161,290 shares of the firm’s stock in a transaction that occurred on Friday, February 7th. The shares were bought at an average cost of $15.50 per share, with a total value of $79,999,995.00. Following the completion of the purchase, the director now directly owns 74,287,410 shares in the company, valued at $1,151,454,855. This represents a 7.47 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this link. Company insiders own 87.80% of the company’s stock.

Institutional Investors Weigh In On Mach Natural Resources

A number of large investors have recently added to or reduced their stakes in the company. Signaturefd LLC purchased a new stake in shares of Mach Natural Resources during the fourth quarter worth about $26,000. Hollencrest Capital Management purchased a new position in Mach Natural Resources during the 4th quarter valued at about $34,000. Parkside Financial Bank & Trust bought a new position in Mach Natural Resources during the 4th quarter valued at approximately $43,000. Avior Wealth Management LLC lifted 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 buying an additional 3,000 shares during the period. Finally, Franklin Resources Inc. grew its position in shares of Mach Natural Resources by 13.7% in the 3rd quarter. Franklin Resources Inc. now owns 138,800 shares of the company’s stock worth $2,354,000 after buying an additional 16,725 shares during the last quarter. 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.