RBC Capital lowered the firm’s price target on Chord Energy (CHRD) to $145 from $165 and keeps an Outperform rating on the shares. A sustained sub-$60 per barrel WTI oil price could result in modestly lower activity, though the firm expects the management to continue leaning in assertively to stock buybacks given weakness in the stock, putting shareholder returns at about 100% near-term, the analyst tells investors in a research note.
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Read More on CHRD:
- Chord Energy price target lowered to $120 from $135 at Citi
- Chord Energy price target lowered to $125 from $138 at BofA
- Chord Energy price target lowered to $139 from $160 at Morgan Stanley
- Chord Energy price target lowered to $166 from $175 at Wells Fargo
- Chord Energy Completes $750 Million Notes Offering
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