Chord Energy (NASDAQ:CHRD) Price Target Lowered to $184.00 at Piper Sandler

Chord Energy (NASDAQ:CHRD - Get Free Report) had its price objective reduced by Piper Sandler from $193.00 to $184.00 in a report issued on Thursday, MarketBeat reports. The brokerage presently has an "overweight" rating on the stock. Piper Sandler's price target would indicate a potential upside of 76.86% from the stock's current price.

Several other equities analysts have also recently commented on the company. Truist Financial boosted their target price on Chord Energy from $185.00 to $186.00 and gave the stock a "buy" rating in a research report on Monday, January 13th. Royal Bank of Canada dropped their target price on Chord Energy from $185.00 to $180.00 and set an "outperform" rating for the company in a report on Wednesday, November 20th. Wolfe Research upgraded shares of Chord Energy from a "peer perform" rating to an "outperform" rating and set a $155.00 price objective on the stock in a research report on Friday, January 3rd. Bank of America restated a "neutral" rating and set a $138.00 target price (down previously from $208.00) on shares of Chord Energy in a report on Monday, January 13th. Finally, Mizuho decreased their target price on Chord Energy from $192.00 to $178.00 and set an "outperform" rating for the company in a research report on Monday, December 16th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $164.62.

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Chord Energy Stock Performance

Shares of Chord Energy stock traded up $0.41 during mid-day trading on Thursday, hitting $104.04. 1,173,784 shares of the stock were exchanged, compared to its average volume of 867,737. The company has a market capitalization of $6.20 billion, a P/E ratio of 5.36, a P/E/G ratio of 5.83 and a beta of 0.98. 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 50-day simple moving average of $115.54 and a 200 day simple moving average of $124.72. Chord Energy has a 12 month low of $99.40 and a 12 month high of $190.23.

Insiders Place Their Bets

In other Chord Energy news, CAO Shannon Browning Kinney sold 1,000 shares of the business's stock in a transaction 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 approximately $2,267,428.80. The trade was a 4.88 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.70% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Chord Energy

Hedge funds have recently made changes to their positions in the stock. Altshuler Shaham Ltd purchased a new position in shares of Chord Energy in the 4th quarter valued at about $25,000. Stone House Investment Management LLC purchased a new position in Chord Energy during the third quarter worth about $26,000. Brooklyn Investment Group purchased a new stake in shares of Chord Energy in the fourth quarter valued at approximately $29,000. Twin Tree Management LP purchased a new position in shares of Chord Energy in the 4th quarter valued at about $33,000. Finally, Larson Financial Group LLC boosted its stake in shares of Chord Energy by 238.3% during the 4th quarter. Larson Financial Group LLC now owns 318 shares of the company's stock worth $37,000 after acquiring an additional 224 shares in 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.