Truist raised the firm’s price target on Chord Energy (CHRD) to $229 from $224 and keeps a Buy rating on the shares. The company reported Q4 earnings upside that was driven primarily by better than expected quarterly oil production, though it also came in above estimates on spending, the analyst tells investors in a research note. The firm is also updating its estimates after the announced merger with Enerplus (ERF).
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Read More on CHRD:
- Chord Energy Reports Fourth Quarter and Full-Year 2023 Financial and Operating Results, Declares Base and Variable Dividends and Issues 2024 Outlook
- Chord Energy price target lowered to $205 from $209 at Piper Sandler
- Chord Energy price target raised to $228 from $225 at Truist
- Chord Energy double downgraded to Underperform at BofA on oil price caution
- Chord Energy downgraded to Underperform from Buy at BofA