Chord Energy resumed with Outperform rating at BMO after closing Enerplus deal

seekingalpha06-04

Chord Energy (NASDAQ:CHRD) is resumed with an Outperform rating and a new $230 price target, raised from $180, at BMO Capital, following a period of restriction due to the $11B cash and stock deal for...

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shares trade -5.1% on Monday as most energy stocks post sharp losses following OPEC+'s weekend meeting. BMO said the acquisition provides Chord Energy  with increased scale in the Bakken along with greater size and scale, which should drive efficiencies and improved valuation. The bank said it likes Chord Energy's  strong free cash flow yield and low leverage, which enable strong capital returns, and believes additional opportunities exist for the company to continue to expand its Bakken position. The two companies said last Friday their combination arrangement was approved by their respective shareholders and received approval from Alberta's provincial regulator. Chord Energy  said it raised guidance for annual synergies from the deal at more than $200M compared to its original estimate of ","collect":0,"end_time":0,"defaultTopTitle":"seekingalpha.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"CHRD":"Chord Energy Corp","BK4213":"石油与天然气的勘探与生产","BK4207":"综合性银行","BMO":"蒙特利尔银行"},"translate_title":"完成Enerplus交易后，Chord Energy恢复BMO跑赢大盘评级","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"BMO":1,"CHRD":1,"ERF":1},"content_text":"Chord Energy (NASDAQ:CHRD) is resumed with an Outperform rating and a new $230 price target, raised from $180, at BMO Capital, following a period of restriction due to the $11B cash and stock deal for Enerplus; shares trade -5.1% on Monday as most energy stocks post sharp losses following OPEC+'s weekend meeting. BMO said the acquisition provides Chord Energy (CHRD) with increased scale in the Bakken along with greater size and scale, which should drive efficiencies and improved valuation. The bank said it likes Chord Energy's (CHRD) strong free cash flow yield and low leverage, which enable strong capital returns, and believes additional opportunities exist for the company to continue to expand its Bakken position. The two companies said last Friday their combination arrangement was approved by their respective shareholders and received approval from Alberta's provincial regulator. Chord Energy (CHRD) said it raised guidance for annual synergies from the deal at more than $200M compared to its original estimate of $150M, \"leveraging best practices from both companies to create a stronger, more efficient organization.\"","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.2","shortVersion":"4.29.2","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2440918411"}