Chord Energy Corp (CHRD) PT Lowered to $154 at Mizuho

Mizuho analyst Nitin Kumar lowered the price target on Chord Energy Corp (NASDAQ: CHRD) to $154.00 (from $178.00) while maintaining a Outperform rating.

The analyst commented: "While it is more levered to crude oil given its above-average >55% oil mix, CHRD also has one of the strongest balance sheets among SMID E&P peers with net/debt EBITDX of ‾0.3x at current strip prices. Moreover, we believe CHRD's steadier production trajectory through 2025 provides better visibility compared to many peers that are integrating recent acquisitions and/or relying on more substantial volume growth in 2Q+ to hit full year volume guidance. We see CHRD offering an above-average cash return yield of >10% this year (with a continued preference for share buybacks over variable dividends) and look for operational updates (including 4-mile laterals) that could support upside to its current 2025-27 outlook. We lower our NAV-based PT to $154 from $178. Maintain Outperform rating; Top Pick among SMID-cap E&Ps."

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