Mach Natural Resources (NYSE:MNR) Stock Price Expected to Rise, Raymond James Financial Analyst Says

Mach Natural Resources (NYSE:MNR) had its target price upped by equities researchers at Raymond James Financial from $21.00 to $22.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage presently has a “strong-buy” rating on the stock. Raymond James Financial’s price target indicates a potential upside of 48.05% from the company’s current price.

Mach Natural Resources Trading Down 1.7%

Shares of NYSE MNR opened at $14.86 on Monday. The company’s 50 day simple moving average is $14.21 and its 200 day simple moving average is $15.02. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.69 and a quick ratio of 0.61. The firm has a market capitalization of $1.76 billion, a P/E ratio of 9.29 and a beta of -0.07. Mach Natural Resources has a fifty-two week low of $12.40 and a fifty-two week high of $20.94.

Mach Natural Resources (NYSE:MNR) last issued its quarterly earnings results on Thursday, May 8th. The company reported $0.68 EPS for the quarter, missing analysts’ consensus estimates of $0.69 by ($0.01). Mach Natural Resources had a net margin of 16.65% and a return on equity of 20.39%. The firm had revenue of $227.00 million for the quarter, compared to the consensus estimate of $259.09 million. On average, analysts predict that Mach Natural Resources will post 1.95 EPS for the current year.

Insider Activity

In other news, Director William Wallace Mcmullen acquired 144,900 shares of the business’s stock in a transaction on Monday, June 16th. The stock was bought at an average price of $14.96 per share, with a total value of $2,167,704.00. Following the completion of the acquisition, the director owned 74,812,939 shares of the company’s stock, valued at approximately $1,119,201,567.44. This represents a 0.19% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders have purchased 525,529 shares of company stock worth $7,588,638 in the last 90 days. 87.80% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Strategic Financial Concepts LLC grew its stake in Mach Natural Resources by 8.3% during the first quarter. Strategic Financial Concepts LLC now owns 12,312 shares of the company’s stock worth $191,000 after buying an additional 948 shares during the period. Parallel Advisors LLC lifted its position in shares of Mach Natural Resources by 100.0% in the first quarter. Parallel Advisors LLC now owns 2,000 shares of the company’s stock worth $31,000 after purchasing an additional 1,000 shares in the last quarter. XTX Topco Ltd grew its holdings in Mach Natural Resources by 11.5% during the fourth quarter. XTX Topco Ltd now owns 13,003 shares of the company’s stock valued at $223,000 after purchasing an additional 1,341 shares during the last quarter. Signaturefd LLC bought a new position in Mach Natural Resources in the fourth quarter worth $26,000. Finally, Novem Group lifted its holdings in shares of Mach Natural Resources by 14.3% during the first quarter. Novem Group now owns 16,000 shares of the company’s stock valued at $249,000 after acquiring an additional 2,000 shares during the period. Institutional investors and hedge funds own 78.36% of the company’s stock.

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.