Analyst Kalei Akamine of Bank of America Securities maintained a Buy rating on Chord Energy (CHRD – Research Report), with a price target of $114.00.
Kalei Akamine has given his Buy rating due to a combination of factors that highlight Chord Energy’s strong financial performance and strategic decisions. The company reported a significant beat in free cash flow for the first quarter of 2025, which has been effectively utilized to continue its aggressive share buyback program. This financial strength is further supported by a reduction in capital expenditure guidance for the year, attributed to operational efficiencies, despite some offset from tariff impacts.
Additionally, Chord Energy’s production guidance for the second quarter exceeds market expectations, reflecting its robust operational capabilities. The company has also demonstrated effective cost management, as evidenced by the lowered lease operating expense guidance. These positive indicators, combined with a favorable update on their 4-mile lateral operations, suggest potential upside in production efficiency and recovery rates, reinforcing the Buy rating.
In another report released on April 22, Piper Sandler also maintained a Buy rating on the stock with a $183.00 price target.
CHRD’s price has also changed moderately for the past six months – from $131.960 to $90.610, which is a -31.34% drop .