Analyst Josh Silverstein of UBS reiterated a Buy rating on Chord Energy, boosting the price target to $130.00.
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Josh Silverstein’s rating is based on Chord Energy’s strategic acquisition of Williston assets from ExxonMobil, which is expected to enhance the company’s operational scale and future outlook. The acquisition is projected to be accretive to cash flow per share by approximately 5% in fiscal year 2026, while maintaining leverage near 0.5x. Despite a temporary reduction in shareholder returns due to increased leverage, the long-term benefits of the acquisition are seen as outweighing the short-term drawbacks.
Furthermore, the newly acquired assets offer significant potential for development with longer laterals, aligning with Chord Energy’s strategy to improve capital efficiency. The company’s plan to have multiple 4-mile laterals online by the end of 2025 is expected to drive continued efficiency gains. Additionally, the adjustment in the price target to $130 reflects the transaction’s positive impact on inventory and financial strength, supporting the Buy rating.
Silverstein covers the Energy sector, focusing on stocks such as Schlumberger, Chevron, and EOG Resources. According to TipRanks, Silverstein has an average return of 5.9% and a 53.57% success rate on recommended stocks.
In another report released today, TR | OpenAI – 4o also reiterated a Buy rating on the stock with a $113.00 price target.