Chord Energy (NASDAQ:CHRD) Given New $143.00 Price Target at Wells Fargo & Company

Chord Energy (NASDAQ:CHRD) had its price target lifted by stock analysts at Wells Fargo & Company from $142.00 to $143.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Wells Fargo & Company‘s price objective points to a potential upside of 39.92% from the company’s previous close.

Several other research firms have also commented on CHRD. Citigroup increased their target price on Chord Energy from $120.00 to $125.00 and gave the company a “buy” rating in a report on Wednesday, July 9th. Morgan Stanley set a $139.00 price objective on Chord Energy and gave the stock a “cautious” rating in a research report on Wednesday, March 26th. Mizuho cut their target price on Chord Energy from $154.00 to $150.00 and set an “outperform” rating on the stock in a research report on Tuesday, May 13th. Piper Sandler decreased their target price on Chord Energy from $161.00 to $159.00 and set an “overweight” rating for the company in a research note on Tuesday, July 1st. Finally, Royal Bank Of Canada dropped their price target on shares of Chord Energy from $165.00 to $145.00 and set an “outperform” rating on the stock in a research note on Friday, April 11th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $151.15.

Chord Energy Stock Down 1.8%

Shares of NASDAQ:CHRD opened at $102.20 on Tuesday. The firm’s 50 day moving average price is $98.78 and its 200 day moving average price is $104.50. The stock has a market cap of $5.90 billion, a price-to-earnings ratio of 6.84 and a beta of 0.96. Chord Energy has a fifty-two week low of $79.83 and a fifty-two week high of $181.17. The company has a quick ratio of 0.83, a current ratio of 0.89 and a debt-to-equity ratio of 0.09.

Chord Energy (NASDAQ:CHRD) last announced its quarterly earnings data on Tuesday, May 6th. The company reported $4.04 EPS for the quarter, beating analysts’ consensus estimates of $3.60 by $0.44. Chord Energy had a net margin of 16.15% and a return on equity of 10.34%. The company had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.07 billion. During the same period in the prior year, the firm posted $5.10 EPS. The company’s quarterly revenue was up 12.0% compared to the same quarter last year. As a group, equities research analysts predict that Chord Energy will post 15.59 earnings per share for the current fiscal year.

Insider Activity

In related news, EVP Shannon Browning Kinney sold 3,091 shares of the company’s stock in a transaction on Thursday, May 8th. The shares were sold at an average price of $94.10, for a total value of $290,863.10. Following the completion of the sale, the executive vice president owned 21,277 shares in the company, valued at $2,002,165.70. This represents a 12.68% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.70% of the company’s stock.

Institutional Trading of Chord Energy

A number of large investors have recently bought and sold shares of CHRD. Proficio Capital Partners LLC purchased a new stake in shares of Chord Energy in the fourth quarter valued at about $3,540,000. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Chord Energy by 39.9% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,895 shares of the company’s stock valued at $1,742,000 after acquiring an additional 4,245 shares during the last quarter. Sequoia Financial Advisors LLC purchased a new stake in Chord Energy during the 4th quarter valued at approximately $201,000. Madison Investment Advisors LLC acquired a new stake in Chord Energy during the 4th quarter worth approximately $4,103,000. Finally, Natixis Advisors LLC purchased a new position in shares of Chord Energy in the 4th quarter valued at approximately $1,191,000. 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.