Mizuho Cuts Chord Energy (NASDAQ:CHRD) Price Target to $150.00

Chord Energy (NASDAQ:CHRD) had its price target cut by stock analysts at Mizuho from $154.00 to $150.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Mizuho’s price objective suggests a potential upside of 53.09% from the stock’s current price.

Several other analysts have also issued reports on the stock. Morgan Stanley set a $139.00 price objective on shares of Chord Energy and gave the company a “cautious” rating in a report on Wednesday, March 26th. Citigroup decreased their price target on Chord Energy from $135.00 to $120.00 and set a “buy” rating on the stock in a research note on Monday, April 7th. Williams Trading set a $155.00 price objective on Chord Energy in a report on Wednesday, March 5th. Wells Fargo & Company dropped their target price on Chord Energy from $166.00 to $158.00 and set an “overweight” rating for the company in a research report on Tuesday, April 15th. Finally, Royal Bank of Canada reduced 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 report on Friday, April 11th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $153.92.

Chord Energy Trading Down 1.5%

Shares of Chord Energy stock opened at $97.98 on Tuesday. Chord Energy has a fifty-two week low of $79.83 and a fifty-two week high of $188.02. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.89 and a current ratio of 0.93. The company has a market cap of $5.83 billion, a P/E ratio of 5.05, a price-to-earnings-growth ratio of 5.83 and a beta of 0.99. The firm has a 50-day simple moving average of $98.36 and a two-hundred day simple moving average of $112.07.

Chord Energy (NASDAQ:CHRD) last posted its quarterly earnings data on Tuesday, May 6th. The company reported $4.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.60 by $0.44. The company had revenue of $1.22 billion for the quarter, compared to analysts’ expectations of $1.07 billion. Chord Energy had a return on equity of 12.88% and a net margin of 19.74%. Chord Energy’s revenue was up 12.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $5.10 EPS. As a group, equities 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 Chord Energy stock in a transaction on Thursday, May 8th. The stock was 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 now owns 21,277 shares of the company’s stock, valued at $2,002,165.70. The trade was a 12.68% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.70% of the stock is currently owned by insiders.

Institutional Trading of Chord Energy

A number of institutional investors have recently added to or reduced their stakes in the business. Altshuler Shaham Ltd acquired a new position in shares of Chord Energy in the fourth quarter worth about $25,000. Brooklyn Investment Group acquired a new position in shares of Chord Energy in the 4th quarter valued at approximately $29,000. Twin Tree Management LP purchased a new position in shares of Chord Energy during the 4th quarter valued at approximately $33,000. Larson Financial Group LLC grew its position in shares of Chord Energy by 238.3% during the fourth quarter. Larson Financial Group LLC now owns 318 shares of the company’s stock worth $37,000 after buying an additional 224 shares in the last quarter. Finally, Hexagon Capital Partners LLC increased its stake in shares of Chord Energy by 321.7% in the first quarter. Hexagon Capital Partners LLC now owns 447 shares of the company’s stock worth $50,000 after buying an additional 341 shares during the last quarter. 97.76% of the stock is owned by hedge funds and other institutional investors.

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.