Chord Energy (NASDAQ:CHRD) Price Target Lowered to $120.00 at Citigroup

Chord Energy (NASDAQ:CHRD) had its target price lowered by research analysts at Citigroup from $135.00 to $120.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm presently has a “buy” rating on the stock. Citigroup’s target price points to a potential upside of 42.49% from the company’s previous close.

A number of other analysts have also recently weighed in on CHRD. Bank of America reduced their target price on shares of Chord Energy from $138.00 to $125.00 and set a “neutral” rating for the company in a report on Tuesday, April 1st. Wells Fargo & Company reduced their price objective on Chord Energy from $175.00 to $166.00 and set an “overweight” rating for the company in a research report on Monday, March 24th. Wolfe Research raised shares of Chord Energy from a “peer perform” rating to an “outperform” rating and set a $155.00 target price on the stock in a research note on Friday, January 3rd. Piper Sandler lowered their price objective on shares of Chord Energy from $193.00 to $184.00 and set an “overweight” rating for the company in a research report on Thursday, March 6th. Finally, Morgan Stanley set a $139.00 price target on Chord Energy and gave the company a “cautious” rating in a research note on Wednesday, March 26th. One analyst has rated the stock with a sell rating, two have issued a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $160.31.

Chord Energy Stock Down 4.1 %

CHRD traded down $3.60 on Monday, reaching $84.22. The company’s stock had a trading volume of 489,944 shares, compared to its average volume of 948,964. The stock has a market cap of $5.01 billion, a price-to-earnings ratio of 4.36, a price-to-earnings-growth ratio of 5.83 and a beta of 0.96. The business’s 50 day moving average is $109.83 and its 200 day moving average is $120.11. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.93 and a quick ratio of 0.89. Chord Energy has a 1 year low of $80.49 and a 1 year high of $190.23.

Institutional Investors Weigh In On Chord Energy

Several hedge funds have recently modified their holdings of the business. Natixis Advisors LLC purchased a new stake in Chord Energy during the 4th quarter worth approximately $1,191,000. Merit Financial Group LLC acquired a new stake in Chord Energy during the 4th quarter worth approximately $553,000. Geode Capital Management LLC increased its stake in shares of Chord Energy by 3.0% during the third quarter. Geode Capital Management LLC now owns 1,162,442 shares of the company’s stock worth $151,077,000 after acquiring an additional 34,156 shares during the period. Kingsview Wealth Management LLC increased its holdings in shares of Chord Energy by 55.3% in the 4th quarter. Kingsview Wealth Management LLC now owns 21,744 shares of the company’s stock valued at $2,542,000 after purchasing an additional 7,743 shares in the last quarter. Finally, Arkfeld Wealth Strategies L.L.C. boosted its position in Chord Energy by 3.5% during the fourth quarter. Arkfeld Wealth Strategies L.L.C. now owns 92,211 shares of the company’s stock worth $11,596,000 after acquiring an additional 3,151 shares during 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.