Chord Energy (NASDAQ:CHRD) Price Target Raised to $176.00

Chord Energy (NASDAQ:CHRD) had its target price hoisted by equities researchers at Wells Fargo & Company from $175.00 to $176.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Wells Fargo & Company‘s price objective points to a potential upside of 53.55% from the company’s current price.

Several other brokerages also recently weighed in on CHRD. UBS Group reduced their price target on Chord Energy from $168.00 to $161.00 and set a “buy” rating on the stock in a report on Monday, December 9th. Piper Sandler increased their price target on Chord Energy from $211.00 to $212.00 and gave the stock an “overweight” rating in a report on Monday, November 18th. Mizuho reduced their price target on Chord Energy from $192.00 to $178.00 and set an “outperform” rating on the stock in a report on Monday. Jefferies Financial Group began coverage on Chord Energy in a report on Thursday, September 5th. They issued a “hold” rating and a $160.00 price target on the stock. Finally, BMO Capital Markets reduced their price target on Chord Energy from $205.00 to $175.00 and set an “outperform” rating on the stock in a report on Friday, October 4th. Two investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $184.18.

Chord Energy Price Performance

Shares of NASDAQ:CHRD traded down $1.57 during mid-day trading on Tuesday, reaching $114.62. The stock had a trading volume of 111,640 shares, compared to its average volume of 888,796. The company has a current ratio of 0.93, a quick ratio of 0.89 and a debt-to-equity ratio of 0.10. The company has a market cap of $7.01 billion, a P/E ratio of 5.90, a price-to-earnings-growth ratio of 4.79 and a beta of 0.96. Chord Energy has a 1 year low of $114.25 and a 1 year high of $190.23. The business’s 50 day moving average price is $127.45 and its 200 day moving average price is $146.03.

Chord Energy (NASDAQ:CHRD) last issued its quarterly earnings data on Wednesday, November 6th. The company reported $3.40 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.63 by ($0.23). Chord Energy had a net margin of 19.74% and a return on equity of 12.88%. The company had revenue of $1.12 billion for the quarter, compared to analysts’ expectations of $1.26 billion. During the same quarter last year, the company earned $5.04 earnings per share. The company’s revenue for the quarter was up 33.4% on a year-over-year basis. Research analysts expect that Chord Energy will post 16.5 EPS for the current fiscal year.

Insider Activity

In other Chord Energy news, CAO Shannon Browning Kinney sold 1,000 shares of the firm’s stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $121.27, for a total transaction of $121,270.00. Following the transaction, the chief accounting officer now owns 20,488 shares of the company’s stock, valued at approximately $2,484,579.76. This trade represents a 4.65 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.70% of the company’s stock.

Institutional Investors Weigh In On Chord Energy

Hedge funds and other institutional investors have recently modified their holdings of the stock. FMR LLC grew its stake in Chord Energy by 2.2% in the 3rd quarter. FMR LLC now owns 3,420,012 shares of the company’s stock worth $445,388,000 after acquiring an additional 74,165 shares during the period. State Street Corp lifted its holdings in Chord Energy by 0.9% in the 3rd quarter. State Street Corp now owns 2,485,777 shares of the company’s stock worth $323,723,000 after buying an additional 22,753 shares in the last quarter. Victory Capital Management Inc. lifted its holdings in Chord Energy by 41.3% in the 3rd quarter. Victory Capital Management Inc. now owns 2,245,435 shares of the company’s stock worth $292,423,000 after buying an additional 656,374 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in Chord Energy by 72.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,771,780 shares of the company’s stock worth $297,090,000 after buying an additional 741,705 shares in the last quarter. Finally, Pacer Advisors Inc. lifted its holdings in Chord Energy by 8,762.1% in the 3rd quarter. Pacer Advisors Inc. now owns 1,245,034 shares of the company’s stock worth $162,141,000 after buying an additional 1,230,985 shares in the last quarter. 97.76% of the stock is currently owned by institutional investors and hedge funds.

About Chord Energy

Chord Energy Corporation operates as an independent exploration and production company in the United States. It acquires, explores, develops, and produces crude oil, natural gas, and natural gas liquids in the Williston Basin. The company sells its products to refiners, marketers, and other purchasers that have access to nearby pipeline and rail facilities.