Mach Natural Resources’ (MNR) Strong-Buy Rating Reiterated at Raymond James

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

Several other brokerages have also recently issued reports on MNR. Truist Financial upped their price objective on Mach Natural Resources from $23.00 to $24.00 and gave the stock a “buy” rating in a report on Monday, January 13th. Stifel Nicolaus upped their price objective on Mach Natural Resources from $21.00 to $23.00 and gave the stock a “buy” rating in a report on Friday, February 7th.

Mach Natural Resources Price Performance

NYSE MNR opened at $15.87 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 quick ratio of 1.16, a current ratio of 1.24 and a debt-to-equity ratio of 0.56.

Insider Activity at Mach Natural Resources

In related news, Director William Wallace Mcmullen purchased 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 price of $15.50 per share, for a total transaction of $79,999,995.00. Following the acquisition, the director now owns 74,287,410 shares of the company’s stock, valued at approximately $1,151,454,855. This represents a 7.47 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 87.80% of the stock is currently owned by insiders.

Institutional Trading of Mach Natural Resources

Several hedge funds and other institutional investors have recently bought and sold shares of MNR. Raymond James Financial Inc. purchased a new stake in Mach Natural Resources during the 4th quarter valued at $5,128,000. Strategic Financial Concepts LLC raised its holdings in Mach Natural Resources by 1,618.0% during the 4th quarter. Strategic Financial Concepts LLC now owns 195,234 shares of the company’s stock valued at $3,354,000 after buying an additional 183,870 shares during the period. ING Groep NV bought a new position in Mach Natural Resources in the 4th quarter valued at $412,000. Sei Investments Co. grew its position in Mach Natural Resources by 8.4% in the 4th quarter. Sei Investments Co. now owns 271,608 shares of the company’s stock valued at $4,666,000 after acquiring an additional 21,101 shares during the last quarter. Finally, Chicago Partners Investment Group LLC grew its position in Mach Natural Resources by 7.7% in the 4th quarter. Chicago Partners Investment Group LLC now owns 242,118 shares of the company’s stock valued at $4,145,000 after acquiring an additional 17,215 shares during the last quarter. Hedge funds and other 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.