Piper Sandler Issues Pessimistic Forecast for Chord Energy (NASDAQ:CHRD) Stock Price

Chord Energy (NASDAQ:CHRD - Get Free Report) had its price target dropped by Piper Sandler from $184.00 to $183.00 in a report released on Tuesday,Benzinga reports. The firm presently has an "overweight" rating on the stock. Piper Sandler's price objective would indicate a potential upside of 92.79% from the company's previous close.

Several other brokerages have also commented on CHRD. Bank of America cut their price target on Chord Energy from $138.00 to $125.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 1st. Citigroup cut their price objective on shares of Chord Energy from $135.00 to $120.00 and set a "buy" rating on the stock in a report on Monday, April 7th. Wolfe Research raised shares of Chord Energy from a "peer perform" rating to an "outperform" rating and set a $155.00 price objective for the company in a research note on Friday, January 3rd. Williams Trading set a $155.00 target price on Chord Energy in a research report on Wednesday, March 5th. Finally, Royal Bank of Canada cut their price target on Chord Energy from $165.00 to $145.00 and set an "outperform" rating on the stock in a report on Friday, April 11th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, nine 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 an average price target of $156.92.

Chord Energy Trading Up 0.2 %

NASDAQ:CHRD traded up $0.17 during midday trading on Tuesday, hitting $94.92. The stock had a trading volume of 54,753 shares, compared to its average volume of 970,502. The stock has a 50-day moving average of $103.10 and a 200 day moving average of $115.93. The company has a market capitalization of $5.65 billion, a price-to-earnings ratio of 4.89, a PEG ratio of 5.83 and a beta of 0.96. Chord Energy has a one year low of $79.83 and a one year high of $188.02. The company has a quick ratio of 0.89, a current ratio of 0.93 and a debt-to-equity ratio of 0.10.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. FMR LLC increased its position in shares of Chord Energy by 11.5% in the 4th quarter. FMR LLC now owns 3,814,384 shares of the company's stock valued at $445,978,000 after acquiring an additional 394,372 shares during the period. Victory Capital Management Inc. raised its stake in shares of Chord Energy by 27.6% in the fourth quarter. Victory Capital Management Inc. now owns 2,864,456 shares of the company's stock worth $334,912,000 after purchasing an additional 619,021 shares during the last quarter. Boston Partners lifted its holdings in shares of Chord Energy by 5.6% during the fourth quarter. Boston Partners now owns 2,186,483 shares of the company's stock worth $255,684,000 after purchasing an additional 115,215 shares during the period. Pacer Advisors Inc. boosted its position in Chord Energy by 50.4% in the fourth quarter. Pacer Advisors Inc. now owns 1,872,156 shares of the company's stock valued at $218,892,000 after buying an additional 627,122 shares during the last quarter. Finally, American Century Companies Inc. boosted its position in Chord Energy by 15.0% in the fourth quarter. American Century Companies Inc. now owns 1,116,073 shares of the company's stock valued at $130,491,000 after buying an additional 145,627 shares during the last quarter. Hedge funds and other institutional investors own 97.76% of the company's stock.

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.