RBC Capital Reiterates Outperform Rating on Chord Energy Corp (CHRD)

RBC Capital analyst Scott Hanold reiterated an Outperform rating and $130.00 price target on Chord Energy Corp (NASDAQ: CHRD).

The analyst commented: "The bolt-on acquisition comes at a reasonable valuation with accretion largely amounting to high-grading and extending the duration of the drilling inventory. The acreage is located in the more core, but generally not heavily drilled up given limited recent activity by the prior operator. The majority of future activity will likely occur using longer lateral drilling that CHRD has proven enhances economic returns. Shareholder returns will taper to 50+% of FCF until leverage returns to sub-0.5x. "

For an analyst ratings summary and ratings history on Chord Energy Corp click here. For more ratings news on Chord Energy Corp click here.

Shares of Chord Energy Corp closed at $106.42 yesterday.

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