Chord Energy and California Resources have recently been given Buy ratings by UBS, with price targets of $168 and $68 respectively.

Chord Energy saw a 1.6% increase in Wednesday's trading, while California Resources saw a 1.7% increase.

UBS believes that Chord Energy's operational efficiency has improved after integrating Enerplus, and its strong balance sheet allows for 75% of free cash flow to be returned to shareholders. UBS also noted that the current valuation of Chord Energy does not adequately reflect its strong fundamentals.

UBS has initiated coverage of Antero Resources and Civitas Resources with Neutral ratings, indicating a more cautious stance on these companies compared to the positive outlook for Chord Energy and California Resources.