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

Chord Energy (NASDAQ:CHRD) had its target price lifted by research analysts at Piper Sandler from $211.00 to $212.00 in a report issued on Monday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Piper Sandler’s price objective points to a potential upside of 65.66% from the stock’s previous close.

CHRD has been the subject of several other reports. Truist Financial reduced their price objective 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. Wells Fargo & Company cut their target price on Chord Energy from $185.00 to $180.00 and set an “overweight” rating for the company in a research note on Wednesday, October 16th. Siebert Williams Shank upgraded Chord Energy to a “strong-buy” rating in a research note on Tuesday, October 15th. Royal Bank of Canada restated an “outperform” rating and issued a $200.00 target price on shares of Chord Energy in a research note on Friday, September 20th. Finally, Jefferies Financial Group initiated coverage on Chord Energy in a research note on Thursday, September 5th. They issued a “hold” rating and a $160.00 target price for the company. Two equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $190.27.

Chord Energy Stock Down 1.8 %

CHRD opened at $127.97 on Monday. Chord Energy has a 1-year low of $123.30 and a 1-year high of $190.23. The company has a current ratio of 0.93, a quick ratio of 0.89 and a debt-to-equity ratio of 0.10. The stock has a market capitalization of $7.82 billion, a price-to-earnings ratio of 6.59, a P/E/G ratio of 5.02 and a beta of 0.98. The business has a 50 day moving average of $131.06 and a 200-day moving average of $153.49.

Chord Energy (NASDAQ:CHRD) last posted its quarterly earnings data 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). Chord Energy had a net margin of 19.74% and a return on equity of 12.88%. The business had revenue of $1.12 billion during the quarter, compared to the consensus estimate of $1.26 billion. During the same period in the prior year, the company posted $5.04 earnings per share. The firm’s revenue was up 33.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that Chord Energy will post 16.8 earnings per share for the current year.

Insiders Place Their Bets

In other Chord Energy news, Director Samantha Holroyd bought 500 shares of the stock in a transaction dated Friday, August 23rd. The stock was bought at an average cost of $149.51 per share, for a total transaction of $74,755.00. Following the completion of the purchase, the director now owns 14,417 shares in the company, valued at $2,155,485.67. This represents a 3.59 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.70% of the company’s stock.

Institutional Trading of Chord Energy

Hedge funds and other institutional investors have recently made changes to their positions in the business. Hexagon Capital Partners LLC increased its stake in shares of Chord Energy by 462.9% in the third quarter. Hexagon Capital Partners LLC now owns 197 shares of the company’s stock valued at $26,000 after buying an additional 162 shares in the last quarter. Stone House Investment Management LLC bought a new position in Chord Energy in the third quarter valued at about $26,000. UMB Bank n.a. boosted its holdings in Chord Energy by 77.7% in the third quarter. UMB Bank n.a. now owns 231 shares of the company’s stock valued at $30,000 after acquiring an additional 101 shares during the last quarter. Spartan Fund Management Inc. bought a new position in Chord Energy in the third quarter valued at about $34,000. Finally, Ashton Thomas Private Wealth LLC bought a new position in Chord Energy in the second quarter valued at about $40,000. 97.76% of the stock is currently owned by institutional investors and hedge funds.

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.