UBS Group Initiates Coverage on Chord Energy (NASDAQ:CHRD)

Equities research analysts at UBS Group assumed coverage on shares of Chord Energy (NASDAQ:CHRD) in a report released on Wednesday, MarketBeat reports. The brokerage set a “buy” rating and a $168.00 price target on the stock. UBS Group’s price target would indicate a potential upside of 28.66% from the stock’s current price.

Other research analysts have also recently issued research reports about the stock. Royal Bank of Canada reissued an “outperform” rating and set a $200.00 target price on shares of Chord Energy in a report on Friday, September 20th. Bank of America lifted their price objective on Chord Energy from $201.00 to $208.00 and gave the company a “buy” rating in a research note on Wednesday, August 21st. Jefferies Financial Group began coverage on Chord Energy in a research note on Thursday, September 5th. They issued a “hold” rating and a $160.00 target price on the stock. Truist Financial reduced their price target on Chord Energy from $223.00 to $185.00 and set a “buy” rating for the company in a research report on Monday, September 30th. Finally, BMO Capital Markets lowered their price objective 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 research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $190.18.

Chord Energy Stock Performance

Shares of CHRD stock opened at $130.58 on Wednesday. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.96 and a quick ratio of 0.91. The business has a fifty day moving average of $139.44 and a 200 day moving average of $162.43. The firm has a market capitalization of $5.44 billion, a price-to-earnings ratio of 6.13, a price-to-earnings-growth ratio of 4.92 and a beta of 0.97. Chord Energy has a 1 year low of $126.38 and a 1 year high of $190.23.

Chord Energy (NASDAQ:CHRD) last released its earnings results on Wednesday, August 7th. The company reported $4.69 EPS for the quarter, missing analysts’ consensus estimates of $5.00 by ($0.31). Chord Energy had a return on equity of 15.06% and a net margin of 20.83%. The firm had revenue of $902.70 million for the quarter, compared to analyst estimates of $982.43 million. During the same period last year, the firm earned $3.65 EPS. The company’s revenue for the quarter was up 29.8% compared to the same quarter last year. As a group, research analysts expect that Chord Energy will post 17.93 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Samantha Holroyd bought 500 shares of Chord Energy stock in a transaction on Friday, August 23rd. The stock was acquired at an average price of $149.51 per share, with a total value of $74,755.00. Following the completion of the acquisition, the director now directly owns 14,417 shares of the company’s stock, valued at $2,155,485.67. The trade was a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.70% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Chord Energy

A number of large investors have recently modified their holdings of CHRD. Victory Capital Management Inc. boosted its position in Chord Energy by 397.5% during the second quarter. Victory Capital Management Inc. now owns 1,589,061 shares of the company’s stock worth $266,454,000 after acquiring an additional 1,269,658 shares during the last quarter. Dimensional Fund Advisors LP boosted 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 worth $297,090,000 after purchasing an additional 741,705 shares during the last quarter. Boston Partners grew its position in shares of Chord Energy by 107.0% in the first quarter. Boston Partners now owns 1,305,942 shares of the company’s stock valued at $232,813,000 after purchasing an additional 674,965 shares in the last quarter. Millennium Management LLC increased its holdings in shares of Chord Energy by 226.5% in the second quarter. Millennium Management LLC now owns 696,488 shares of the company’s stock valued at $116,787,000 after purchasing an additional 483,144 shares during the last quarter. Finally, KGH Ltd lifted its position in Chord Energy by 872.0% during the second quarter. KGH Ltd now owns 485,998 shares of the company’s stock worth $81,492,000 after buying an additional 435,998 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.