Wells Fargo & Company Has Lowered Expectations for Chord Energy (NASDAQ:CHRD) Stock Price

Chord Energy (NASDAQ:CHRD) had its price target reduced by Wells Fargo & Company from $175.00 to $166.00 in a research note issued on Monday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Wells Fargo & Company‘s price target points to a potential upside of 48.50% from the stock’s current price.

CHRD has been the subject of a number of other reports. Williams Trading set a $155.00 target price on shares of Chord Energy in a research report on Wednesday, March 5th. Bank of America reiterated a “neutral” rating and issued a $138.00 target price (down from $208.00) on shares of Chord Energy in a research report on Monday, January 13th. Citigroup lowered shares of Chord Energy to a “reduce” rating in a report on Wednesday, March 5th. Truist Financial upped their price objective on shares of Chord Energy from $185.00 to $186.00 and gave the company a “buy” rating in a report on Monday, January 13th. Finally, Wolfe Research raised shares of Chord Energy from a “peer perform” rating to an “outperform” rating and set a $155.00 price objective for the company in a report on Friday, January 3rd. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $163.92.

Chord Energy Stock Performance

Shares of NASDAQ CHRD opened at $111.79 on Monday. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.89 and a current ratio of 0.93. The company’s fifty day moving average price is $112.92 and its 200 day moving average price is $121.91. The company has a market capitalization of $6.67 billion, a PE ratio of 5.74, a price-to-earnings-growth ratio of 5.83 and a beta of 0.98. Chord Energy has a 1 year low of $99.40 and a 1 year high of $190.23.

Hedge Funds Weigh In On Chord Energy

A number of large investors have recently made changes to their positions in CHRD. FMR LLC increased its holdings in Chord Energy by 11.5% during the 4th quarter. FMR LLC now owns 3,814,384 shares of the company’s stock valued at $445,978,000 after acquiring an additional 394,372 shares in the last quarter. Victory Capital Management Inc. grew its holdings in shares of Chord Energy by 27.6% during the fourth quarter. Victory Capital Management Inc. now owns 2,864,456 shares of the company’s stock worth $334,912,000 after buying an additional 619,021 shares in the last quarter. State Street Corp grew its holdings in shares of Chord Energy by 0.9% during the third 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. Boston Partners grew its holdings in shares of Chord Energy by 5.6% during the fourth quarter. Boston Partners now owns 2,186,483 shares of the company’s stock worth $255,684,000 after buying an additional 115,215 shares in the last quarter. Finally, Pacer Advisors Inc. grew its holdings in shares of Chord Energy by 50.4% during the fourth quarter. Pacer Advisors Inc. now owns 1,872,156 shares of the company’s stock worth $218,892,000 after buying an additional 627,122 shares in the last quarter. Hedge funds and other 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.