Chord Energy (NASDAQ:CHRD) PT Lowered to $185.00

Chord Energy (NASDAQ:CHRD) had its target price reduced by equities research analysts at Wells Fargo & Company from $200.00 to $185.00 in a research note issued on Tuesday, Benzinga reports. The firm currently has an “overweight” rating on the stock. Wells Fargo & Company‘s price target suggests a potential upside of 41.36% from the stock’s previous close.

Several other equities analysts have also recently weighed in on CHRD. Wolfe Research started coverage on Chord Energy in a report on Thursday, July 18th. They issued a “peer perform” rating for the company. Citigroup lowered their price target on Chord Energy from $195.00 to $180.00 and set a “buy” rating for the company in a report on Monday, August 12th. Truist Financial lowered their price target on Chord Energy from $223.00 to $185.00 and set a “buy” rating for the company in a report on Monday. Bank of America boosted their price target on Chord Energy from $201.00 to $208.00 and gave the stock a “buy” rating in a report on Wednesday, August 21st. Finally, Piper Sandler lowered their price target on Chord Energy from $234.00 to $206.00 and set an “overweight” rating for the company in a report on Thursday, August 15th. Two analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $197.90.

Chord Energy Price Performance

Shares of NASDAQ CHRD opened at $130.87 on Tuesday. The stock has a market capitalization of $5.46 billion, a PE ratio of 6.15, a P/E/G ratio of 4.92 and a beta of 0.99. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.96 and a quick ratio of 0.91. The business has a fifty day moving average price of $146.75 and a two-hundred day moving average price of $165.67. Chord Energy has a fifty-two week low of $126.96 and a fifty-two week high of $190.23.

Chord Energy (NASDAQ:CHRD) last announced its quarterly earnings data on Wednesday, August 7th. The company reported $4.69 earnings per share for the quarter, missing the consensus estimate of $5.00 by ($0.31). The company had revenue of $902.70 million during the quarter, compared to analyst estimates of $982.43 million. Chord Energy had a net margin of 20.83% and a return on equity of 15.06%. Chord Energy’s revenue was up 29.8% on a year-over-year basis. During the same period in the prior year, the firm earned $3.65 earnings per share. As a group, equities analysts predict that Chord Energy will post 18.48 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Samantha Holroyd bought 500 shares of the stock in a transaction on Friday, August 23rd. The stock was acquired at an average price of $149.51 per share, with a total value of $74,755.00. Following the acquisition, the director now directly owns 14,417 shares in the company, valued at $2,155,485.67. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.70% of the company’s stock.

Hedge Funds Weigh In On Chord Energy

Institutional investors and hedge funds have recently bought and sold shares of the company. Fortem Financial Group LLC grew its position in shares of Chord Energy by 1.6% in the 1st quarter. Fortem Financial Group LLC now owns 5,958 shares of the company’s stock valued at $1,062,000 after buying an additional 91 shares during the last quarter. New York State Teachers Retirement System grew its position in shares of Chord Energy by 0.6% in the 1st quarter. New York State Teachers Retirement System now owns 15,792 shares of the company’s stock valued at $2,815,000 after buying an additional 100 shares during the last quarter. Benjamin F. Edwards & Company Inc. grew its position in shares of Chord Energy by 125.9% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 244 shares of the company’s stock valued at $41,000 after buying an additional 136 shares during the last quarter. Rise Advisors LLC bought a new stake in shares of Chord Energy in the 1st quarter valued at about $31,000. Finally, Ellsworth Advisors LLC grew its position in shares of Chord Energy by 6.6% in the 2nd quarter. Ellsworth Advisors LLC now owns 3,048 shares of the company’s stock valued at $511,000 after buying an additional 188 shares during the last quarter. Institutional investors and hedge funds own 97.76% of the company’s stock.

Chord Energy Company Profile

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.