BUZZ - Chord Energy shares decline after appointing insider Lu as CEO

October 19 - ** Chord Energy (CHRD.O) shares fell nearly 2% in pre-market trading to $151.94

** The company appointed insider Michael Lou as Chief Executive Officer, effective immediately

** Lou succeeds Danny Brown, who will leave to join natural gas producer Expand Energy (EXE.O) as Chief Executive Officer (link), effective October 26

** Lou previously served as the company’s Chief Strategy Officer and Chief Commercial Officer

** Brown will succeed Michael Wichterich, who has served as Expand Energy’s CEO since February

** Out of 20 brokerages, 17 rate the stock as “buy” or higher, 3 as “hold”; the median price target is $176.50—data compiled by LSEG

** As of the previous close, the stock has gained 66.7% so far this year

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