Mach Natural Resources (NYSE:MNR) Upgraded by Wall Street Zen to Buy Rating

Key Points

• Wall Street Zen upgraded Mach Natural Resources from “hold” to “buy,” contributing to a consensus “Moderate Buy” rating and an average price target of $17.60.
• MNR shares opened at $13.01, near their 50-day moving average, with a market capitalization of approximately $2.17 billion and a one-year trading range of $10.46 to $15.02.
• Institutional ownership is substantial at 78.36%; Goldman Sachs more than doubled its stake in the first quarter, while several other firms also increased their holdings.

Mach Natural Resources (NYSE:MNR - Get Free Report) was upgraded by research analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a report released on Saturday.

MNR has been the subject of a number of other reports. Northland Securities set a $17.00 price target on shares of Mach Natural Resources in a research report on Monday. Raymond James Financial upped their price objective on shares of Mach Natural Resources from $18.00 to $19.00 and gave the stock a "strong-buy" rating in a report on Tuesday, July 14th. Citigroup reaffirmed an "outperform" rating on shares of Mach Natural Resources in a research note on Monday. Stephens set a $20.00 target price on shares of Mach Natural Resources in a report on Monday, July 13th. Finally, Zacks Research upgraded Mach Natural Resources from a "strong sell" rating to a "hold" rating in a research note on Tuesday. Two investment analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and four have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, Mach Natural Resources currently has a consensus rating of "Moderate Buy" and a consensus price target of $17.60.

Mach Natural Resources Stock Up 0.2%

NYSE:MNR opened at $13.01 on Friday. The firm's 50-day moving average price is $13.00 and its 200-day moving average price is $13.20. The company has a market capitalization of $2.17 billion, a PE ratio of 22.05 and a beta of -0.31. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.88 and a quick ratio of 0.73. Mach Natural Resources has a 1-year low of $10.46 and a 1-year high of $15.02.

Institutional Trading of Mach Natural Resources

Several institutional investors have recently bought and sold shares of MNR. Goldman Sachs Group Inc. raised its holdings in Mach Natural Resources by 120.5% in the first quarter. Goldman Sachs Group Inc. now owns 3,814,782 shares of the company's stock worth $59,320,000 after buying an additional 2,084,511 shares during the last quarter. ING Groep NV grew its holdings in shares of Mach Natural Resources by 23.1% during the fourth quarter. ING Groep NV now owns 1,018,000 shares of the company's stock valued at $11,239,000 after buying an additional 191,000 shares during the last quarter. First Trust Advisors LP grew its holdings in shares of Mach Natural Resources by 19.7% during the fourth quarter. First Trust Advisors LP now owns 539,012 shares of the company's stock valued at $5,951,000 after buying an additional 88,590 shares during the last quarter. Raymond James Financial Inc. grew its holdings in shares of Mach Natural Resources by 22.9% during the third quarter. Raymond James Financial Inc. now owns 376,757 shares of the company's stock valued at $4,966,000 after buying an additional 70,180 shares during the last quarter. Finally, &PARTNERS increased its position in shares of Mach Natural Resources by 454.1% during the fourth quarter. &PARTNERS now owns 270,833 shares of the company's stock valued at $2,980,000 after acquiring an additional 221,958 shares in the last quarter. 78.36% of the stock is owned by hedge funds and other institutional investors.

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

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