Mach Natural Resources (NYSE:MNR) Price Target Raised to $24.00

Mach Natural Resources (NYSE:MNR) had its price target hoisted by Truist Financial from $23.00 to $24.00 in a research report sent to investors on Monday,Benzinga reports. The firm currently has a buy rating on the stock.

Mach Natural Resources Trading Up 0.7 %

MNR opened at $17.66 on Monday. Mach Natural Resources has a 1 year low of $14.46 and a 1 year high of $21.19. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.16 and a current ratio of 1.24.

Hedge Funds Weigh In On Mach Natural Resources

A hedge fund recently raised its stake in Mach Natural Resources stock. Franklin Resources Inc. boosted its position in shares of Mach Natural Resources LP (NYSE:MNR) by 13.7% in the third quarter, according to the company in its most recent 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 about 0.13% of Mach Natural Resources worth $2,354,000 at the end of the most recent reporting period. Institutional investors and hedge funds 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.