Truist Securities Starts Mach Natural Resources (MNR) at Buy

Truist Securities analyst Neal Dingmann initiates coverage on Mach Natural Resources (NYSE: MNR) with a Buy rating and a price target of $23.00.

The analyst comments "Mach Natural Resources is an Upstream MLP that focuses on maximizing distributions by acquiring accretive free cash flowing assets and executing a development program with minimal capital requirements. The company’s low base decline and low reinvestment rate allow for strong cash flow. MNR’s current operations are in the Anadarko Basin though the company continues to evaluate opportunities across the entire Lower 48. The current 16% distribution yield is one of the higher payout rates in the industry."

For an analyst ratings summary and ratings history on Mach Natural Resources click here. For more ratings news on Mach Natural Resources click here.

Shares of Mach Natural Resources closed at $15.10 yesterday.

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