Mizuho Issues Pessimistic Forecast for Chord Energy (NASDAQ:CHRD) Stock Price

Chord Energy (NASDAQ:CHRD) had its price objective lowered by equities researchers at Mizuho from $192.00 to $178.00 in a report issued on Monday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Mizuho’s target price suggests a potential upside of 54.66% from the stock’s previous close.

CHRD has been the subject of a number of other reports. Wells Fargo & Company lowered their price objective on shares of Chord Energy from $185.00 to $180.00 and set an “overweight” rating for the company in a research report on Wednesday, October 16th. Truist Financial dropped their price target on Chord Energy from $223.00 to $185.00 and set a “buy” rating for the company in a research note on Monday, September 30th. BMO Capital Markets dropped their price objective on shares of Chord Energy from $205.00 to $175.00 and set an “outperform” rating for the company in a report on Friday, October 4th. UBS Group dropped their price target on shares of Chord Energy from $168.00 to $161.00 and set a “buy” rating for the company in a research note on Monday, December 9th. Finally, Piper Sandler increased their price objective on Chord Energy from $211.00 to $212.00 and gave the company an “overweight” rating in a report on Monday, November 18th. Two investment 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 stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $182.55.

Chord Energy Stock Down 0.9 %

NASDAQ CHRD opened at $115.09 on Monday. The business has a fifty day moving average price of $127.45 and a two-hundred day moving average price of $146.03. The stock has a market capitalization of $7.04 billion, a PE ratio of 5.91, a PEG ratio of 4.79 and a beta of 0.96. Chord Energy has a fifty-two week low of $113.58 and a fifty-two week high of $190.23. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.93 and a quick ratio of 0.89.

Chord Energy (NASDAQ:CHRD) last released 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). The business had revenue of $1.12 billion during the quarter, compared to analyst estimates of $1.26 billion. Chord Energy had a net margin of 19.74% and a return on equity of 12.88%. The business’s quarterly revenue was up 33.4% compared to the same quarter last year. During the same period last year, the business earned $5.04 earnings per share. Equities analysts expect that Chord Energy will post 16.5 earnings per share for the current fiscal year.

Insider Activity

In related news, CAO Shannon Browning Kinney sold 1,000 shares of the business’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $116.35, for a total value of $116,350.00. Following the completion of the sale, the chief accounting officer now owns 19,488 shares in the company, valued at $2,267,428.80. The trade was a 4.88 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 0.70% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. Hexagon Capital Partners LLC raised its position in Chord Energy by 462.9% during the 3rd quarter. Hexagon Capital Partners LLC now owns 197 shares of the company’s stock valued at $26,000 after purchasing an additional 162 shares during the last quarter. Stone House Investment Management LLC purchased a new position in shares of Chord Energy during the third quarter valued at approximately $26,000. UMB Bank n.a. lifted its stake in Chord Energy by 77.7% in the third quarter. UMB Bank n.a. now owns 231 shares of the company’s stock worth $30,000 after acquiring an additional 101 shares during the period. Spartan Fund Management Inc. bought a new stake in Chord Energy in the third quarter valued at $34,000. Finally, Ashton Thomas Private Wealth LLC purchased a new position in Chord Energy during the 2nd quarter valued at $40,000. 97.76% of the stock is owned by hedge funds and other institutional investors.

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.