US: Chord Energy announces divestiture of non-operated Marcellus assets

Chord Energy (CHRD) sold its Marcellus assets for $550 million, reducing net debt significantly. The sale price is close to 8x unhedged pre-tax free cash flow, according to Elephant Analytics.

Mizuho raised its price target for Chord Energy (NASDAQ:CHRD) to $179 from $175, maintaining an Outperform rating. The company's stock is trading at $137.01, with a low P/E ratio of 9.3 and a financial health score of 3.18. The upgrade follows the sale of nonoperated Marcellus assets, which generated proceeds 40% above Mizuho's estimate. Chord Energy's Q2 2026 earnings missed expectations, but the company highlighted strong free cash flow and shareholder returns.

BMO Capital analyst Phillip Jungwirth maintained a Buy rating on Chord Energy (CHRD) with a $160 price target. Chord reported Q2 revenue of $2.17B and net profit of $525.19M, up from last year's $1.18B revenue and net loss of $389.91M. Insider sentiment is negative, with recent sales by directors.

Chord Energy (CHRD) agreed to sell its Marcellus assets for $550M, with $55M deposit received. The sale, expected to close Q4, involves assets producing 121M cubic feet of gas daily. Proceeds may reduce capital requirements by $25M annually, but earnings from the assets are significant, with adjusted EBITDA estimated at $92M.

Chord Energy (CHRD) agreed to sell a $550M Marcellus position to POSCO International, focusing on Williston Basin assets. The stock has seen mixed performance, down 4.95% in the past week but up 52.61% year-to-date. Analysts suggest the stock is undervalued, with a fair value estimate of $167.47, citing strong drilling performance and potential for increased margins.

Truist analyst Gabe Daoud raised Chord Energy's (CHRD) price target to $180 from $166, maintaining a Buy rating. This follows Chord's $550M divestiture of its Marcellus position. Truist believes this deal's valuation metrics could benefit Devon (DVN) if it sells its NEPA asset, implying about $9B in value.