Chord Energy (NASDAQ:CHRD) Earns Equal Weight Rating from Analysts at Morgan Stanley

Morgan Stanley initiated coverage on shares of Chord Energy (NASDAQ:CHRD) in a report issued on Friday, Marketbeat reports. The firm set an “equal weight” rating and a $158.00 price target on the stock. Morgan Stanley’s target price would suggest a potential upside of 28.87% from the stock’s previous close.

A number of other equities research analysts also recently commented on CHRD. UBS Group lowered their price target on shares of Chord Energy from $168.00 to $161.00 and set a “buy” rating for the company in a report on Monday, December 9th. Truist Financial lowered their target price on shares of Chord Energy from $223.00 to $185.00 and set a “buy” rating for the company in a research note on Monday, September 30th. Mizuho decreased their price objective on Chord Energy from $192.00 to $178.00 and set an “outperform” rating on the stock in a report on Monday, December 16th. Wolfe Research upgraded Chord Energy from a “peer perform” rating to an “outperform” rating and set a $155.00 target price for the company in a research note on Friday, January 3rd. Finally, BMO Capital Markets decreased their price target on Chord Energy from $205.00 to $175.00 and set an “outperform” rating on the stock in a research note on Friday, October 4th. Two equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Chord Energy presently has an average rating of “Moderate Buy” and a consensus target price of $178.54.

Chord Energy Trading Down 0.2 %

Shares of Chord Energy stock opened at $122.60 on Friday. Chord Energy has a 1 year low of $109.59 and a 1 year high of $190.23. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.93 and a quick ratio of 0.89. The business has a 50 day moving average price of $122.59 and a 200 day moving average price of $139.65. The company has a market capitalization of $7.49 billion, a P/E ratio of 6.31, a P/E/G ratio of 4.79 and a beta of 0.99.

Chord Energy (NASDAQ:CHRD) last released its quarterly earnings results on Wednesday, November 6th. The company reported $3.40 earnings per share for the quarter, missing analysts’ consensus estimates of $3.63 by ($0.23). The company had revenue of $1.12 billion during the quarter, compared to analyst estimates of $1.26 billion. Chord Energy had a return on equity of 12.88% and a net margin of 19.74%. The business’s revenue was up 33.4% compared to the same quarter last year. During the same period last year, the firm earned $5.04 earnings per share. Sell-side analysts anticipate that Chord Energy will post 16.5 EPS for the current fiscal year.

Insider Activity at Chord Energy

In other Chord Energy news, CAO Shannon Browning Kinney sold 1,000 shares of the company’s stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $121.27, for a total value of $121,270.00. Following the completion of the transaction, the chief accounting officer now owns 20,488 shares in the company, valued at $2,484,579.76. This represents a 4.65 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.70% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Pacer Advisors Inc. increased its stake in Chord Energy by 8,762.1% during the 3rd quarter. Pacer Advisors Inc. now owns 1,245,034 shares of the company’s stock worth $162,141,000 after buying an additional 1,230,985 shares during the period. Dimensional Fund Advisors LP increased its position in shares of Chord Energy by 72.0% during the second quarter. Dimensional Fund Advisors LP now owns 1,771,780 shares of the company’s stock worth $297,090,000 after acquiring an additional 741,705 shares during the last quarter. Victory Capital Management Inc. lifted its stake in shares of Chord Energy by 41.3% in the third quarter. Victory Capital Management Inc. now owns 2,245,435 shares of the company’s stock worth $292,423,000 after acquiring an additional 656,374 shares in the last quarter. Point72 Asset Management L.P. boosted its holdings in Chord Energy by 143.8% in the third quarter. Point72 Asset Management L.P. now owns 880,787 shares of the company’s stock valued at $114,705,000 after purchasing an additional 519,547 shares during the last quarter. Finally, Millennium Management LLC grew its stake in Chord Energy by 226.5% during the 2nd quarter. Millennium Management LLC now owns 696,488 shares of the company’s stock valued at $116,787,000 after purchasing an additional 483,144 shares in the last quarter. 97.76% of the stock is owned by institutional investors and hedge funds.

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.