Zacks Research Upgrades Mach Natural Resources (NYSE:MNR) to “Hold”

Mach Natural Resources (NYSE:MNRGet Free Report) was upgraded by equities researchers at Zacks Research from a “strong sell” rating to a “hold” rating in a note issued to investors on Tuesday,Zacks.com reports.

A number of other research analysts have also recently issued reports on MNR. Stephens set a $20.00 target price on Mach Natural Resources in a research note on Monday, July 13th. Raymond James Financial lifted their price objective on Mach Natural Resources from $18.00 to $19.00 and gave the company a “strong-buy” rating in a report on Tuesday, July 14th. Northland Securities set a $17.00 price objective on Mach Natural Resources in a research report on Monday. Citigroup reissued an “outperform” rating on shares of Mach Natural Resources in a research note on Monday. Finally, Weiss Ratings raised shares of Mach Natural Resources from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday. Two analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $17.60.

Check Out Our Latest Research Report on MNR

Mach Natural Resources Stock Performance

Shares of Mach Natural Resources stock opened at $13.10 on Tuesday. The company has a market capitalization of $2.19 billion, a PE ratio of 22.20 and a beta of -0.31. Mach Natural Resources has a 12 month low of $10.46 and a 12 month high of $15.02. The company has a current ratio of 0.83, a quick ratio of 0.73 and a debt-to-equity ratio of 0.61. The stock’s fifty day simple moving average is $13.03 and its 200 day simple moving average is $13.19.

Hedge Funds Weigh In On Mach Natural Resources

A number of hedge funds have recently bought and sold shares of the company. Cooksen Wealth LLC lifted its position in Mach Natural Resources by 87.5% in the second quarter. Cooksen Wealth LLC now owns 2,635 shares of the company’s stock valued at $38,000 after purchasing an additional 1,230 shares during the last quarter. Hilton Head Capital Partners LLC bought a new position in shares of Mach Natural Resources in the fourth quarter worth approximately $31,000. Stifel Financial Corp grew its holdings in shares of Mach Natural Resources by 1.5% in the fourth quarter. Stifel Financial Corp now owns 231,999 shares of the company’s stock worth $2,561,000 after purchasing an additional 3,472 shares during the last quarter. Gunpowder Capital Management LLC dba Oliver Wealth Management purchased a new position in shares of Mach Natural Resources in the fourth quarter worth $42,000. Finally, CENTRAL TRUST Co increased its stake in shares of Mach Natural Resources by 384.7% in the first quarter. CENTRAL TRUST Co now owns 4,992 shares of the company’s stock worth $70,000 after buying an additional 3,962 shares during the period. Institutional investors own 78.36% of the company’s stock.

Mach Natural Resources Company Profile

(Get Free Report)

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. The company was incorporated in 2023 and is headquartered in Oklahoma City, Oklahoma.

Further Reading

Analyst Recommendations for Mach Natural Resources (NYSE:MNR)

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