Mach Natural Resources (NYSE:MNR) Shares Gap Down – What’s Next?

Mach Natural Resources LP (NYSE:MNR)’s stock price gapped down prior to trading 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 trading hands.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. Truist Financial upped their target price on shares of Mach Natural Resources from $23.00 to $24.00 and gave the company a “buy” rating in a research report on Monday, January 13th. Stifel Nicolaus lifted their price objective on shares of Mach Natural Resources from $21.00 to $23.00 and gave the stock a “buy” rating in a research report on Friday.

Mach Natural Resources Trading Up 1.6 %

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

Institutional Investors Weigh In On Mach Natural Resources

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Raymond James Financial Inc. acquired a new stake in shares of Mach Natural Resources during the fourth quarter worth $5,128,000. Strategic Financial Concepts LLC raised its stake in shares of 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 worth $3,354,000 after buying an additional 183,870 shares during the last quarter. ING Groep NV acquired a new stake in shares of Mach Natural Resources in the fourth quarter valued at approximately $412,000. Chicago Partners Investment Group LLC grew its holdings 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 valued at $4,145,000 after buying an additional 17,215 shares during the last quarter. Finally, Franklin Resources Inc. increased its position in Mach Natural Resources by 13.7% during the 3rd 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. 78.36% of the stock is currently 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.