Mach Natural Resources initiated with a Buy at Truist

Truist analyst Neal Dingmann initiated coverage of Mach Natural Resources (MNR) with a Buy rating and $23 price target Mach Natural is an upstream master limited partnership that focuses on maximizing distributions by acquiring accretive free cash flowing assets and executing a development program with minimal capital requirements, the analyst tells investors in a research note. The firm says the company’s low base decline and low reinvestment rate allow for strong cash flow.