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Chord Energy Corporation, an independent exploration and production company, focuses on acquiring, exploring, and producing crude oil, natural gas liquids, and natural gas primarily in North Dakota and Montana's Williston Basin. With a land position of approximately 1.3 million acres, 98% of which is in the Williston, the company targets the Middle Bakken and Three Forks formations. It boasts an average daily production of about 287,000 barrels of oil equivalent per day and sells its output to refiners and marketers via nearby pipeline and rail facilities.
UBS has identified Allegro MicroSystems and Chord Energy as two "Strong Buy" stocks amid a bullish market outlook, forecasting significant growth. Allegro, despite recent challenges in the EV market, is projected to have a 45% upside with a $30 price target, while Chord, benefiting from operational efficiency and a recent acquisition, has a 32.5% upside with a target of $168. Both companies are positioned well for future gains as the market shows strength.
UBS analysts are bullish on Allegro MicroSystems and Chord Energy, both rated as "Strong Buy." Allegro, a semiconductor firm, is poised for recovery despite recent revenue declines, while Chord, an oil and gas company, shows strong operational efficiency and significant free cash flow. Both stocks have substantial upside potential, with Allegro targeted at $30 and Chord at $168.
Chord Energy (NASDAQ:CHRD) and California Resources (NYSE:CRC) received Buy ratings from UBS, with price targets set at $168 and $68, respectively. Chord's positive outlook is attributed to its operational efficiency, strong balance sheet, and attractive valuation, which reflects robust fundamentals.
DGS Capital Management LLC and Hennion & Walsh Asset Management Inc. both acquired new positions in Chord Energy, with investments of approximately $239,000 and $296,000, respectively. AlphaMark Advisors LLC increased its stake by 16.8%, now holding shares worth $327,000. Analysts have given Chord Energy a "Moderate Buy" rating, with a price target averaging $190.64, while the stock recently traded at $128.02, reflecting a 52-week range of $126.38 to $190.23.
Chord Energy Corporation, an independent exploration and production company, focuses on acquiring, exploring, developing, and producing crude oil, natural gas liquids, and natural gas primarily in the Williston Basin of North Dakota and Montana. With a land position of approximately 1.3 million acres, 98% of which is in the Williston, the company targets the Middle Bakken and Three Forks formations. It boasts an average daily production of around 287,000 barrels of oil equivalent per day and sells its output to refiners and marketers via nearby pipeline and rail facilities.
Chord Energy Corporation (NASDAQ: CHRD) has received a bullish Buy rating from UBS, with a price target of $168, despite its stock currently trading at $126.50 after a 4.43% decline. UBS highlights the company's improving operational efficiency post-Enerplus integration, strong balance sheet, and attractive valuation, suggesting potential for growth in the energy sector. With a trailing P/E ratio of 6.15 and a dividend yield of 8.86%, Chord Energy presents a compelling investment opportunity amidst a challenging market.
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