RBC Capital analyst Scott Hanold maintains $Chord Energy (CHRD.US)$ with a buy rating, and adjusts the target price from $185 to $180.
According to TipRanks data, the analyst has a success rate of 70.8% and a total average return of 28.9% over the past year.
Furthermore, according to the comprehensive report, the opinions of $Chord Energy (CHRD.US)$'s main analysts recently are as follows:
Chord Energy's recent Q3 results offer improved visibility on the sustainability of near-term free cash flow, with a 3-year outlook indicating that maintenance oil production can be sustained using $1.4B of capital for several more years. The company's focus on enhancing shareholder returns through stock buybacks is strategically advisable, given the relatively low valuation levels.
The company's three-year outlook reflects its confidence in its inventory depth and asset quality, which supports a positive long-term view. Continued organic inventory expansion from 3-mile lateral developments is anticipated.
Note:
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Success rate is the number of the analyst's successful ratings, divided by his/her total number of ratings over the past year. A successful rating is one based on if TipRanks' virtual portfolio earned a positive return from the stock. Total average return is the average rate of return that the TipRanks' virtual portfolio has earned over the past year. These portfolios are established based on the analyst's preliminary rating and are adjusted according to the changes in the rating.
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