RBC Capital lowered the firm’s price target on Chord Energy (CHRD) to $180 from $185 but keeps an Outperform rating on the shares. The company’s recent Q3 results provided better visibility on the duration of its near-term free cash flow, and its 3-year outlook that shows a maintenance oil production case using $1.4B of capital has sustainability for a few more years, the analyst tells investors in a research note. Chord management should focus on all variable shareholder returns through stock buybacks, which “strategically makes sense” at current depressed relative valuation levels, RBC added.
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Read More on CHRD:
- Chord Energy price target lowered to $175 from $180 at Wells Fargo
- Chord Energy price target raised to $212 from $211 at Piper Sandler
- Chord Energy Reports Strong Q3 2024 Results
- Chord Energy reports Q3 adjusted EPS $3.40, consensus $3.78
- Chord Energy price target lowered to $180 from $185 at Wells Fargo
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
