Piper Sandler lowered the firm’s price target on Chord Energy to $206 from $234 and keeps an Overweight rating on the shares. The firm reduced its gas price forecasts to reflect the view that the gas market remains over-supplied. Piper reduced its mid-cycle gas price forecast to $3.25 from $4 as it anticipates operating efficiencies and improving cycle times will continue to drive a lower marginal cost of supply. It also trimmed its intermediate-term oil forecast.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 55% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on CHRD:
- Chord Energy price target lowered to $180 from $195 at Citi
- Chord Energy Reports Second Quarter 2024 Financial and Operating Results, Declares Base and Variable Dividends and Issues an Updated Outlook
- Chord Energy sees 2024 adjusted EBITDA $1.2B
- Chord Energy reports adjusted EPS $4.69, consensus $4.96
- 3 Best Stocks to Buy Now, 7/23/2024, According to Top Analysts