Analyst Gabriele Sorbara from Siebert Williams Shank & Co reiterated a Buy rating on Chord Energy and keeping the price target at $140.00.
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Gabriele Sorbara has given his Buy rating due to a combination of factors including Chord Energy’s strong operational performance and improved financial outlook. The company reported a robust quarter with production exceeding expectations and capital expenditures coming in lower than anticipated. This efficiency has allowed Chord Energy to present a more favorable outlook for 2025, with reduced capital expenditure guidance and increased production targets.
Moreover, the company’s first 4-mile lateral well has outperformed expectations, contributing significantly to production while remaining under budget. Sorbara also highlights the company’s strong free cash flow yield, which supports superior capital returns and maintains low financial leverage. These factors combined with a reaffirmed three-year outlook, suggest potential upside, justifying the Buy rating.
In another report released yesterday, Bank of America Securities also maintained a Buy rating on the stock with a $112.00 price target.
Based on the recent corporate insider activity of 39 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of CHRD in relation to earlier this year.