Chord Energy (CHRD) has received a new Buy rating, initiated by William Blair analyst, Neal Dingmann.
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Neal Dingmann has given his Buy rating due to a combination of factors that highlight Chord Energy’s strong financial and operational position. Despite recent underperformance compared to its peers, Chord Energy’s low breakeven costs, robust free cash flow, and strong balance sheet position it well for shareholder returns even at current oil prices.
Moreover, Chord Energy’s strategic financial management, including a reinvestment rate of less than 50% and leading base oil decline rate, ensures stability across commodity price cycles. The company is projected to generate significant free cash flow in the coming years, with forecasts of over $750 million in 2026 and more than $1.1 billion in 2027. Additionally, Chord Energy’s operational efficiencies and extensive inventory in the Williston Basin, along with its ability to acquire complementary assets, further support its growth potential. The current valuation metrics suggest substantial upside potential, leading to the Buy rating.
According to TipRanks, Dingmann is a 2-star analyst with an average return of 0.1% and a 44.20% success rate. Dingmann covers the Energy sector, focusing on stocks such as Civitas Resources, Diamondback, and Devon Energy.
In another report released on November 18, Piper Sandler also maintained a Buy rating on the stock with a $165.00 price target.