Chord Energy (NASDAQ:CHRD) Coverage Initiated at Morgan Stanley

Morgan Stanley initiated coverage on shares of Chord Energy (NASDAQ:CHRD - Get Free Report) in a research note issued to investors on Friday, Marketbeat Ratings reports. The firm set an "equal weight" rating and a $158.00 price target on the stock. Morgan Stanley's price target would suggest a potential upside of 27.65% from the stock's previous close.

Other equities research analysts also recently issued reports about the stock. Siebert Williams Shank raised shares of Chord Energy to a "strong-buy" rating in a report on Tuesday, October 15th. Mizuho cut their target price on shares of Chord Energy from $192.00 to $178.00 and set an "outperform" rating for the company in a research note on Monday, December 16th. Wolfe Research upgraded shares of Chord Energy from a "peer perform" rating to an "outperform" rating and set a $155.00 target price for the company in a report on Friday, January 3rd. Truist Financial dropped their price target on Chord Energy from $223.00 to $185.00 and set a "buy" rating on the stock in a report on Monday, September 30th. Finally, Wells Fargo & Company raised their price objective on Chord Energy from $175.00 to $176.00 and gave the stock an "overweight" rating in a research note on Tuesday, December 17th. Two 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 stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $178.54.

Chord Energy Price Performance

Shares of NASDAQ CHRD traded up $1.18 during mid-day trading on Friday, reaching $123.78. 628,152 shares of the company traded hands, compared to its average volume of 667,275. Chord Energy has a fifty-two week low of $109.59 and a fifty-two week high of $190.23. The firm has a market cap of $7.57 billion, a PE ratio of 6.37, a price-to-earnings-growth ratio of 4.79 and a beta of 0.99. The stock has a fifty day simple moving average of $122.59 and a 200-day simple moving average of $139.65. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.93 and a quick ratio of 0.89.

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

Insider Buying and Selling at Chord Energy

In other news, CAO Shannon Browning Kinney sold 1,000 shares of the firm's stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $121.27, for a total transaction of $121,270.00. Following the completion of the sale, the chief accounting officer now directly owns 20,488 shares of the company's stock, valued at $2,484,579.76. This trade represents a 4.65 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.70% of the company's stock.

Hedge Funds Weigh In On Chord Energy

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