Chord Energy price target lowered to $223 from $226 at Truist

Truist lowered the firm’s price target on Chord Energy to $223 from $226 and keeps a Buy rating on the shares as part of a broader research note previewing Q2 results in the E&P Energy sector. Based on its recent company meetings and conversations, operations are going as expected, resulting in virtually no change to Truist’s existing FY24/FY25 guidance for those companies that have laid out 2025 plans, the firm tells investors in a research note. The analyst adds that the continued weak natural gas prices and minimal if any OFS deflation were two of last quarter’s challenges, though notable continued operating efficiencies more than outweighed the downside for most operators.