Raymond James Reaffirms Strong-Buy Rating for Mach Natural Resources (NYSE:MNR)

Raymond James reissued their strong-buy rating on shares of Mach Natural Resources (NYSE:MNR) in a research report released on Monday,Benzinga reports. The brokerage currently has a $25.00 price target on the stock, up from their previous price target of $23.00.

MNR has been the topic of a number of other research reports. Stifel Nicolaus increased their price target on Mach Natural Resources from $21.00 to $23.00 and gave the stock a “buy” rating in a research report on Friday, February 7th. Truist Financial increased their price target on Mach Natural Resources from $23.00 to $24.00 and gave the stock a “buy” rating in a research report on Monday, January 13th.

Mach Natural Resources Stock Performance

Shares of Mach Natural Resources stock opened at $15.87 on Monday. The company has a current ratio of 1.24, a quick ratio of 1.16 and a debt-to-equity ratio of 0.56. Mach Natural Resources has a 52 week low of $14.46 and a 52 week high of $21.19.

Insider Transactions at Mach Natural Resources

In related news, Director William Wallace Mcmullen acquired 5,161,290 shares of the company’s stock in a transaction that occurred on Friday, February 7th. The shares were bought at an average price of $15.50 per share, with a total value of $79,999,995.00. Following the completion of the transaction, the director now directly owns 74,287,410 shares in the company, valued at $1,151,454,855. This trade represents a 7.47 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 87.80% of the company’s stock.

Institutional Investors Weigh In On Mach Natural Resources

A number of institutional investors have recently added to or reduced their stakes in the stock. Raymond James Financial Inc. bought a new stake in Mach Natural Resources during the fourth quarter valued at about $5,128,000. Sei Investments Co. boosted its position in Mach Natural Resources by 8.4% during the fourth quarter. Sei Investments Co. now owns 271,608 shares of the company’s stock valued at $4,666,000 after purchasing an additional 21,101 shares in the last quarter. Chicago Partners Investment Group LLC boosted its position in Mach Natural Resources by 7.7% during the fourth quarter. Chicago Partners Investment Group LLC now owns 242,118 shares of the company’s stock valued at $4,145,000 after purchasing an additional 17,215 shares in the last quarter. Strategic Financial Concepts LLC boosted its position in 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 valued at $3,354,000 after purchasing an additional 183,870 shares in the last quarter. Finally, Franklin Resources Inc. boosted its position in Mach Natural Resources by 13.7% during the third quarter. Franklin Resources Inc. now owns 138,800 shares of the company’s stock valued at $2,354,000 after purchasing an additional 16,725 shares in the last quarter. 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.