UBS Maintains Buy on Chord Energy, Lowers Price Target to $184
UBS analyst Josh Silverstein maintains Chord Energy (NASDAQ:CHRD) with a Buy and lowers the price target from $189 to $184.
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UBS analyst Josh Silverstein maintains Chord Energy (NASDAQ:CHRD) with a Buy and lowers the price target from $189 to $184.
A fourth straight decline in crude oil handed Wall Street a fresh leg higher Monday, with the Nasdaq 100 jumping to a three-month high as semiconductors led the tape. Intel surged nearly 14% on SK Hynix foundry optimism while AMD crossed the $1 trillion mark. Energy was the lone sector in the red as WTI slid more than 5% to an 11-day low
Chord Energy agreed to sell its entire Marcellus position to POSCO International for $550 million, with closing expected in Q4 2026. The divestiture will simplify operations, reduce net leverage by ~$25M in annual capital spending, and increase oil weighting by 4-5 percentage points. However, company-wide gas realizations are expected to decline 16-30% post-sale as the company focuses exclusively on its core Williston Basin assets.
Jefferies analyst Lloyd Byrne maintains Chord Energy (NASDAQ:CHRD) with a Hold and raises the price target from $133 to $150.
Three sectors are higher and eight are lower in Thursday’s regular session, with growth, cyclical and defensive sectors each represented among the top three. The leaders are separated rather than