Paul Diamond CFA, an analyst from Citi, maintained the Buy rating on Chord Energy. The associated price target remains the same with $125.00.
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Paul Diamond CFA has given his Buy rating due to a combination of factors including Chord Energy’s strategic acquisition of an asset package in the Williston Core from XTO. This transaction, valued at approximately $550 million, is seen as a positive move that reduces uncertainty regarding the company’s strategic direction while being accretive overall. The acquisition is expected to enhance efficiency and compete for capital immediately after closing, which aligns with the company’s capital return framework.
Additionally, Chord Energy has been actively repurchasing shares, with approximately 788,000 shares bought back in the third quarter for around $83 million. The company maintains a strong financial position, with net leverage expected to remain below 0.6x and projected to decrease further by mid-2026. With a target price of $125 per share, Paul Diamond anticipates a modestly positive market reaction to these developments, supporting his Buy rating.
In another report released today, TR | OpenAI – 4o also reiterated a Buy rating on the stock with a $113.00 price target.