Chord Energy (NASDAQ:CHRD) Price Target Lowered to $175.00 at Wells Fargo & Company

Chord Energy (NASDAQ:CHRD) had its target price lowered by investment analysts at Wells Fargo & Company from $176.00 to $175.00 in a research note issued on Wednesday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Wells Fargo & Company‘s price target would indicate a potential upside of 38.12% from the company’s current price.

Several other research analysts have also recently issued reports on CHRD. BMO Capital Markets decreased their target price on shares of Chord Energy from $205.00 to $175.00 and set an “outperform” rating for the company in a report on Friday, October 4th. Mizuho lowered their price objective on Chord Energy from $192.00 to $178.00 and set an “outperform” rating on the stock in a research report on Monday, December 16th. Truist Financial increased their target price on Chord Energy from $185.00 to $186.00 and gave the company a “buy” rating in a research note on Monday. Piper Sandler decreased their price target on Chord Energy from $212.00 to $194.00 and set an “overweight” rating for the company in a research note on Tuesday, December 17th. Finally, Bank of America reiterated a “neutral” rating and issued a $138.00 price objective (down from $208.00) on shares of Chord Energy in a report on Monday. Three investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $173.15.

Chord Energy Stock Performance

Chord Energy stock opened at $126.70 on Wednesday. Chord Energy has a twelve month low of $109.59 and a twelve month high of $190.23. The company has a quick ratio of 0.89, a current ratio of 0.93 and a debt-to-equity ratio of 0.10. The company has a market capitalization of $7.75 billion, a P/E ratio of 6.52, a PEG ratio of 4.79 and a beta of 0.99. The stock’s 50 day moving average is $122.60 and its 200 day moving average is $138.36.

Chord Energy (NASDAQ:CHRD) last released its earnings results on Wednesday, November 6th. The company reported $3.40 EPS for the quarter, missing analysts’ consensus estimates of $3.63 by ($0.23). The company had revenue of $1.12 billion during the quarter, compared to analysts’ expectations of $1.26 billion. Chord Energy had a return on equity of 12.88% and a net margin of 19.74%. The company’s revenue was up 33.4% on a year-over-year basis. During the same period in the prior year, the company posted $5.04 earnings per share. On average, equities research analysts predict that Chord Energy will post 16.5 earnings per share for the current fiscal year.

Insider Buying and Selling at Chord Energy

In other Chord Energy news, CAO Shannon Browning Kinney sold 1,000 shares of the business’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 completion of the sale, the chief accounting officer now owns 20,488 shares of the company’s stock, valued at approximately $2,484,579.76. The trade was a 4.65 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.70% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Chord Energy

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Victory Capital Management Inc. increased 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 valued at $292,423,000 after acquiring an additional 656,374 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Chord Energy by 3.0% in the third quarter. Geode Capital Management LLC now owns 1,162,442 shares of the company’s stock worth $151,077,000 after buying an additional 34,156 shares in the last quarter. Bank of Montreal Can grew its holdings in Chord Energy by 956.5% during the 2nd quarter. Bank of Montreal Can now owns 58,359 shares of the company’s stock valued at $9,873,000 after buying an additional 52,835 shares in the last quarter. Foundry Partners LLC raised its holdings in shares of Chord Energy by 22.7% during the 3rd quarter. Foundry Partners LLC now owns 52,009 shares of the company’s stock worth $6,773,000 after acquiring an additional 9,613 shares in the last quarter. Finally, Caxton Associates LP purchased a new position in shares of Chord Energy in the second quarter valued at $2,515,000. Institutional investors own 97.76% of the company’s stock.

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.