Truist Financial Forecasts Strong Price Appreciation for Mach Natural Resources (NYSE:MNR) Stock

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

Mach Natural Resources Price Performance

Mach Natural Resources stock opened at $17.66 on Monday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.16 and a current ratio of 1.24. Mach Natural Resources has a 52 week low of $14.46 and a 52 week high of $21.19.

Institutional Trading of Mach Natural Resources

An institutional investor recently raised its position in Mach Natural Resources stock. Franklin Resources Inc. grew its position in Mach Natural Resources LP (NYSE:MNR) by 13.7% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 138,800 shares of the company’s stock after acquiring an additional 16,725 shares during the period. Franklin Resources Inc. owned about 0.13% of Mach Natural Resources worth $2,354,000 at the end of the most recent quarter. 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.