Mach Natural Resources (NYSE:MNR) Shares Gap Down – Here’s Why

Shares of Mach Natural Resources LP (NYSE:MNR) gapped down before the market opened on Thursday . The stock had previously closed at $17.18, but opened at $15.79. Mach Natural Resources shares last traded at $15.72, with a volume of 326,761 shares changing hands.

Analyst Upgrades and Downgrades

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

Mach Natural Resources Stock Performance

The company has a current ratio of 1.24, a quick ratio of 1.16 and a debt-to-equity ratio of 0.56.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Strategic Financial Concepts LLC boosted its position in shares of 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 worth $3,354,000 after buying an additional 183,870 shares during the period. ING Groep NV bought a new stake in Mach Natural Resources during the 4th quarter valued at $412,000. Chicago Partners Investment Group LLC boosted its position in Mach Natural Resources by 7.7% during the 4th quarter. Chicago Partners Investment Group LLC now owns 242,118 shares of the company’s stock worth $4,145,000 after acquiring an additional 17,215 shares during the period. Franklin Resources Inc. grew its stake in shares of Mach Natural Resources by 13.7% in the third quarter. Franklin Resources Inc. now owns 138,800 shares of the company’s stock worth $2,354,000 after purchasing an additional 16,725 shares in the last quarter. Finally, Avior Wealth Management LLC increased its holdings in shares of Mach Natural Resources by 33.3% during the fourth quarter. Avior Wealth Management LLC now owns 12,000 shares of the company’s stock valued at $206,000 after purchasing an additional 3,000 shares during the period. 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.