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

Chord Energy (NASDAQ:CHRD) was upgraded by research analysts at Wolfe Research from a “peer perform” rating to an “outperform” rating in a research note issued to investors on Friday,Briefing.com Automated Import reports. The brokerage presently has a $155.00 target price on the stock. Wolfe Research’s target price points to a potential upside of 30.37% from the company’s current price.

Other equities research analysts have also recently issued reports about the company. Mizuho reduced their price objective 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. UBS Group reduced their price target on shares of Chord Energy from $168.00 to $161.00 and set a “buy” rating for the company in a report on Monday, December 9th. Jefferies Financial Group initiated coverage on shares of Chord Energy in a research report on Thursday, September 5th. They set a “hold” rating and a $160.00 price objective for the company. Siebert Williams Shank raised Chord Energy to a “strong-buy” rating in a research report on Tuesday, October 15th. Finally, Truist Financial cut their price target on Chord Energy from $223.00 to $185.00 and set a “buy” rating for the company in a report on Monday, September 30th. One analyst has rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Chord Energy has a consensus rating of “Buy” and a consensus target price of $180.25.

Chord Energy Price Performance

Shares of Chord Energy stock opened at $118.89 on Friday. 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 firm has a fifty day simple moving average of $123.02 and a 200-day simple moving average of $141.15. The stock has a market capitalization of $7.27 billion, a price-to-earnings ratio of 6.12, a PEG ratio of 4.79 and a beta of 0.96. Chord Energy has a 1-year low of $109.59 and a 1-year high of $190.23.

Chord Energy (NASDAQ:CHRD) last released its quarterly earnings results on Wednesday, November 6th. The company reported $3.40 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.63 by ($0.23). The firm had revenue of $1.12 billion for the quarter, compared to the consensus estimate of $1.26 billion. Chord Energy had a net margin of 19.74% and a return on equity of 12.88%. The firm’s revenue was up 33.4% on a year-over-year basis. During the same quarter last year, the company earned $5.04 earnings per share. On average, sell-side analysts expect that Chord Energy will post 16.5 earnings per share for the current year.

Insider Activity at Chord Energy

In other Chord Energy news, CAO Shannon Browning Kinney sold 1,000 shares of the business’s stock in a transaction dated 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 transaction, the chief accounting officer now directly 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 legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.70% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Chord Energy

Several institutional investors have recently modified their holdings of the business. FMR LLC grew its holdings in shares of Chord Energy by 2.2% during the third quarter. FMR LLC now owns 3,420,012 shares of the company’s stock worth $445,388,000 after buying an additional 74,165 shares in the last quarter. State Street Corp grew its stake in Chord Energy by 0.9% in the third quarter. State Street Corp now owns 2,485,777 shares of the company’s stock valued at $323,723,000 after purchasing an additional 22,753 shares in the last quarter. Victory Capital Management Inc. raised its stake in shares of Chord Energy by 41.3% during the 3rd quarter. Victory Capital Management Inc. now owns 2,245,435 shares of the company’s stock worth $292,423,000 after purchasing an additional 656,374 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Chord Energy by 72.0% in the second quarter. Dimensional Fund Advisors LP now owns 1,771,780 shares of the company’s stock valued at $297,090,000 after buying an additional 741,705 shares in the last quarter. Finally, Pacer Advisors Inc. increased its holdings in Chord Energy by 8,762.1% during the third quarter. Pacer Advisors Inc. now owns 1,245,034 shares of the company’s stock worth $162,141,000 after buying an additional 1,230,985 shares during the last quarter. Institutional investors own 97.76% of the company’s stock.

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.