Chord Energy (NASDAQ:CHRD) Upgraded to Outperform at Wolfe Research

Chord Energy (NASDAQ:CHRD - Get Free Report) was upgraded by Wolfe Research from a "peer perform" rating to an "outperform" rating in a research report issued to clients and investors on Friday, MarketBeat.com reports. The brokerage presently has a $155.00 price objective on the stock. Wolfe Research's price target points to a potential upside of 28.15% from the stock's current price.

A number of other analysts also recently weighed in on CHRD. Truist Financial decreased 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 report on Monday, September 30th. Mizuho decreased their price objective on shares of Chord Energy from $192.00 to $178.00 and set an "outperform" rating for the company in a research report on Monday, December 16th. UBS Group dropped their target price on shares of Chord Energy from $168.00 to $161.00 and set a "buy" rating on the stock in a report on Monday, December 9th. Siebert Williams Shank upgraded Chord Energy to a "strong-buy" rating in a report on Tuesday, October 15th. Finally, Royal Bank of Canada cut their target price on Chord Energy from $185.00 to $180.00 and set an "outperform" rating on the stock in a research report on Wednesday, November 20th. One research analyst has rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Buy" and a consensus price target of $180.25.

Chord Energy Trading Up 1.7 %

Shares of CHRD stock traded up $2.06 during trading hours on Friday, hitting $120.95. 550,744 shares of the company's stock traded hands, compared to its average volume of 580,122. The stock has a market cap of $7.39 billion, a PE ratio of 6.23, a price-to-earnings-growth ratio of 4.79 and a beta of 0.96. The stock's 50 day simple moving average is $122.86 and its 200 day simple moving average is $140.86. The company has a quick ratio of 0.89, a current ratio of 0.93 and a debt-to-equity ratio of 0.10. Chord Energy has a 12 month low of $109.59 and a 12 month high of $190.23.

Chord Energy (NASDAQ:CHRD - Get Free Report) last announced its 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). Chord Energy had a return on equity of 12.88% and a net margin of 19.74%. The company had revenue of $1.12 billion for the quarter, compared to the consensus estimate of $1.26 billion. During the same period in the prior year, the business earned $5.04 earnings per share. The firm's revenue for the quarter was up 33.4% on a year-over-year basis. On average, sell-side analysts anticipate that Chord Energy will post 16.5 EPS for the current year.

Insider Buying and Selling at Chord Energy

In related news, CAO Shannon Browning Kinney sold 1,000 shares of Chord Energy stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $116.35, for a total transaction of $116,350.00. Following the transaction, the chief accounting officer now owns 19,488 shares of the company's stock, valued at $2,267,428.80. The trade was a 4.88 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.70% of the company's stock.

Hedge Funds Weigh In On Chord Energy

Large investors have recently bought and sold shares of the stock. Victory Capital Management Inc. raised its holdings 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 valued at $292,423,000 after purchasing an additional 656,374 shares during the last quarter. Geode Capital Management LLC grew its position in Chord Energy by 3.0% in the 3rd quarter. Geode Capital Management LLC now owns 1,162,442 shares of the company's stock worth $151,077,000 after purchasing an additional 34,156 shares in the last quarter. Bank of Montreal Can increased its stake in Chord Energy by 956.5% in the 2nd quarter. Bank of Montreal Can now owns 58,359 shares of the company's stock valued at $9,873,000 after buying an additional 52,835 shares during the last quarter. Foundry Partners LLC lifted its position in shares of Chord Energy by 22.7% during the 3rd quarter. Foundry Partners LLC now owns 52,009 shares of the company's stock worth $6,773,000 after buying an additional 9,613 shares in the last quarter. Finally, Caxton Associates LP purchased a new position in shares of Chord Energy in the 2nd quarter worth approximately $2,515,000. 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.