Mach Natural Resources (NYSE:MNR) Shares Gap Down – Time to Sell?

Mach Natural Resources LP (NYSE:MNR)’s share price gapped down prior to trading on Thursday . The stock had previously closed at $17.18, but opened at $15.79. Mach Natural Resources shares last traded at $15.72, with a volume of 326,761 shares changing hands.

Wall Street Analysts Forecast Growth

Separately, Truist Financial increased their price target on shares of Mach Natural Resources from $23.00 to $24.00 and gave the stock a “buy” rating in a research note on Monday, January 13th.

Mach Natural Resources Price Performance

The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.16 and a current ratio of 1.24.

Institutional Trading of Mach Natural Resources

A number of institutional investors have recently modified their holdings of MNR. Chicago Partners Investment Group LLC grew its stake 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 worth $4,145,000 after buying an additional 17,215 shares during the period. Strategic Financial Concepts LLC lifted its position in Mach Natural Resources by 1,618.0% during the 4th quarter. Strategic Financial Concepts LLC now owns 195,234 shares of the company’s stock worth $3,354,000 after acquiring an additional 183,870 shares in the last quarter. Franklin Resources Inc. boosted its holdings in Mach Natural Resources by 13.7% in the 3rd quarter. Franklin Resources Inc. now owns 138,800 shares of the company’s stock worth $2,354,000 after acquiring an additional 16,725 shares during the period. ING Groep NV acquired a new stake in Mach Natural Resources in the fourth quarter valued at approximately $412,000. Finally, Avior Wealth Management LLC raised its stake in shares of Mach Natural Resources by 33.3% during the fourth quarter. Avior Wealth Management LLC now owns 12,000 shares of the company’s stock valued at $206,000 after purchasing an additional 3,000 shares during the period. Hedge funds and other 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.