Truist Financial Increases Mach Natural Resources (NYSE:MNR) Price Target to $24.00

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

Mach Natural Resources Trading Up 0.6 %

NYSE MNR opened at $17.14 on Monday. Mach Natural Resources has a one year low of $14.46 and a one year high of $21.19. The stock has a market cap of $1.77 billion, a price-to-earnings ratio of 7.17 and a beta of -0.79.

Institutional Trading of Mach Natural Resources

A hedge fund recently raised its stake in Mach Natural Resources stock. Franklin Resources Inc. grew its stake in Mach Natural Resources LP (NYSE:MNR) by 13.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 138,800 shares of the company’s stock after acquiring an additional 16,725 shares during the quarter. 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.

Mach Natural Resources Company Profile

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.