Chord Energy (NASDAQ:CHRD) Price Target Raised to $176.00

Chord Energy (NASDAQ:CHRD - Get Free Report) had its price objective hoisted by stock analysts at Wells Fargo & Company from $175.00 to $176.00 in a report released on Tuesday,Benzinga reports. The brokerage presently has an "overweight" rating on the stock. Wells Fargo & Company's price objective indicates a potential upside of 52.92% from the stock's previous close.

A number of other brokerages have also issued reports on CHRD. Bank of America increased their price objective on shares of Chord Energy from $201.00 to $208.00 and gave the company a "buy" rating in a report on Wednesday, August 21st. Truist Financial reduced their price target on shares of Chord Energy from $223.00 to $185.00 and set a "buy" rating on the stock in a report on Monday, September 30th. Piper Sandler increased their price objective on shares of Chord Energy from $211.00 to $212.00 and gave the company an "overweight" rating in a report on Monday, November 18th. Mizuho cut their price objective on Chord Energy from $192.00 to $178.00 and set an "outperform" rating for the company in a research report on Monday. Finally, BMO Capital Markets decreased their target price on Chord Energy from $205.00 to $175.00 and set an "outperform" rating on the stock in a research report on Friday, October 4th. Two investment analysts have rated the stock with a hold rating, ten 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 a consensus rating of "Moderate Buy" and an average target price of $182.55.

Chord Energy Stock Performance

Shares of NASDAQ CHRD traded down $1.10 during trading on Tuesday, hitting $115.09. The company had a trading volume of 826,500 shares, compared to its average volume of 891,769. Chord Energy has a 12 month low of $113.58 and a 12 month high of $190.23. 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 firm has a market capitalization of $7.04 billion, a P/E ratio of 5.91, a price-to-earnings-growth ratio of 4.79 and a beta of 0.96. The stock has a 50 day simple moving average of $127.45 and a 200 day simple moving average of $146.03.

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 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 analysts' expectations of $1.26 billion. Chord Energy had a net margin of 19.74% and a return on equity of 12.88%. Chord Energy's revenue for the quarter was up 33.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $5.04 EPS. As a group, analysts anticipate that Chord Energy will post 16.5 earnings per share for the current year.

Insider Buying and Selling at Chord Energy

In other news, CAO Shannon Browning Kinney sold 1,000 shares of the business's stock in a transaction 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 directly owns 20,488 shares of the company's stock, valued at approximately $2,484,579.76. The trade was a 4.65 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.70% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Chord Energy

Large investors have recently added to or reduced their stakes in the company. FMR LLC increased its position in shares of Chord Energy by 2.2% during the third quarter. FMR LLC now owns 3,420,012 shares of the company's stock worth $445,388,000 after purchasing an additional 74,165 shares in the last quarter. State Street Corp grew its stake in Chord Energy by 0.9% during the 3rd quarter. State Street Corp now owns 2,485,777 shares of the company's stock worth $323,723,000 after buying an additional 22,753 shares during the last quarter. Victory Capital Management Inc. increased its position in Chord Energy by 41.3% during the 3rd quarter. Victory Capital Management Inc. now owns 2,245,435 shares of the company's stock valued at $292,423,000 after buying an additional 656,374 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in Chord Energy by 72.0% in the second quarter. Dimensional Fund Advisors LP now owns 1,771,780 shares of the company's stock valued at $297,090,000 after buying an additional 741,705 shares during the last quarter. Finally, Pacer Advisors Inc. boosted its holdings in Chord Energy by 8,762.1% in the third quarter. Pacer Advisors Inc. now owns 1,245,034 shares of the company's stock worth $162,141,000 after acquiring an additional 1,230,985 shares in the last quarter. 97.76% of the stock is currently 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.