Chord Energy (NASDAQ:CHRD) Price Target Raised to $164.00

Chord Energy (NASDAQ:CHRD) had its price target upped by investment analysts at Piper Sandler from $159.00 to $164.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Piper Sandler’s price objective suggests a potential upside of 54.14% from the company’s previous close.

Several other analysts have also recently issued reports on CHRD. Wells Fargo & Company upped their price objective on Chord Energy from $142.00 to $143.00 and gave the company an “overweight” rating in a research note on Tuesday. Royal Bank Of Canada cut their price objective on Chord Energy from $165.00 to $145.00 and set an “outperform” rating on the stock in a research note on Friday, April 11th. Bank of America cut their price objective on Chord Energy from $114.00 to $112.00 and set a “buy” rating on the stock in a research note on Friday, May 23rd. Wall Street Zen upgraded Chord Energy from a “sell” rating to a “hold” rating in a research note on Friday, June 27th. Finally, Morgan Stanley set a $139.00 price objective on Chord Energy and gave the company a “cautious” rating in a research note on Wednesday, March 26th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Chord Energy presently has an average rating of “Moderate Buy” and a consensus price target of $151.54.

Chord Energy Trading Up 0.4%

NASDAQ:CHRD opened at $106.40 on Thursday. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.83 and a current ratio of 0.89. Chord Energy has a one year low of $79.83 and a one year high of $177.28. The business’s 50-day simple moving average is $99.30 and its 200 day simple moving average is $104.37. The stock has a market cap of $6.15 billion, a price-to-earnings ratio of 7.12 and a beta of 0.96.

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

Insider Buying and Selling at Chord Energy

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

Hedge Funds Weigh In On Chord Energy

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. FMR LLC grew its holdings in Chord Energy by 11.5% in the 4th quarter. FMR LLC now owns 3,814,384 shares of the company’s stock worth $445,978,000 after buying an additional 394,372 shares in the last quarter. American Century Companies Inc. grew its holdings in Chord Energy by 3.7% in the 1st quarter. American Century Companies Inc. now owns 1,157,870 shares of the company’s stock worth $130,515,000 after buying an additional 41,797 shares in the last quarter. Adage Capital Partners GP L.L.C. grew its holdings in Chord Energy by 19.0% in the 4th quarter. Adage Capital Partners GP L.L.C. now owns 855,381 shares of the company’s stock worth $100,011,000 after buying an additional 136,751 shares in the last quarter. Allspring Global Investments Holdings LLC grew its holdings in Chord Energy by 6.4% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 791,958 shares of the company’s stock worth $89,198,000 after buying an additional 47,649 shares in the last quarter. Finally, Woodline Partners LP grew its holdings in Chord Energy by 16.4% in the 4th quarter. Woodline Partners LP now owns 748,966 shares of the company’s stock worth $87,569,000 after buying an additional 105,448 shares in the last quarter. 97.76% of the stock is owned by institutional investors.

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.