Chord Energy initiated with a Buy at Roth Capital

Roth Capital analyst Nick Pope initiated coverage of pure-play Bakken producer Chord Energy (CHRD) with a Buy rating and $130 price target The firm believes that valuation “looks compelling” with “inline multiple, small premium to proved developed value, and growth in underdeveloped region.” Roth added that Chord’s low leverage allows the company to be “nimble in pursuing further consolidation opportunities.”