Piper Sandler has revised its price target for Chord Energy (CHRD, Financial), lowering it slightly from $184 to $183, while maintaining an Overweight rating on the stock. The adjustment comes as the firm anticipates a challenging environment leading into the first quarter due to several market dynamics.
The firm points to a complex mix of factors, including trade-war tensions and broad macroeconomic uncertainties, as well as an increase in OPEC+ oil supply. Additionally, the outlook for seasonal gas markets remains complicated. These elements combined create a volatile backdrop for energy stocks.
Despite the market's volatility potentially offering opportunities to invest in companies with significant low-cost inventories and robust balance sheets, Piper Sandler expresses a preference towards oil over gas for the upcoming quarter. This preference is influenced by the impact of market reversion and positioning on short-term performance.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 17 analysts, the average target price for Chord Energy Corp (CHRD, Financial) is $142.24 with a high estimate of $186.00 and a low estimate of $100.00. The average target implies an upside of 53.20% from the current price of $92.84. More detailed estimate data can be found on the Chord Energy Corp (CHRD) Forecast page.
Based on the consensus recommendation from 17 brokerage firms, Chord Energy Corp's (CHRD, Financial) average brokerage recommendation is currently 2.0, indicating "Outperform" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
Based on GuruFocus estimates, the estimated GF Value for Chord Energy Corp (CHRD, Financial) in one year is $120.12, suggesting a upside of 29.38% from the current price of $92.84. GF Value is GuruFocus' estimate of the fair value that the stock should be traded at. It is calculated based on the historical multiples the stock has traded at previously, as well as past business growth and the future estimates of the business' performance. More detailed data can be found on the Chord Energy Corp (CHRD) Summary page.
