Chord Energy (NASDAQ:CHRD) Stock Price Expected to Rise, Truist Financial Analyst Says

Chord Energy (NASDAQ:CHRD) had its price objective boosted by research analysts at Truist Financial from $185.00 to $186.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm presently has a “buy” rating on the stock. Truist Financial’s target price points to a potential upside of 46.80% from the company’s current price.

Other equities analysts have also issued reports about the company. Morgan Stanley assumed coverage on Chord Energy in a research note on Friday, January 10th. They issued an “equal weight” rating and a $158.00 target price for the company. Piper Sandler dropped their price objective on shares of Chord Energy from $212.00 to $194.00 and set an “overweight” rating for the company in a research note on Tuesday, December 17th. Bank of America reiterated a “neutral” rating and set a $138.00 price objective (down from $208.00) on shares of Chord Energy in a report on Monday. Royal Bank of Canada lowered their target price on shares of Chord Energy from $185.00 to $180.00 and set an “outperform” rating for the company in a report on Wednesday, November 20th. Finally, BMO Capital Markets cut their price target on shares of Chord Energy from $205.00 to $175.00 and set an “outperform” rating on the stock in a research note on Friday, October 4th. Three equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Chord Energy presently has an average rating of “Moderate Buy” and an average price target of $173.23.

Chord Energy Stock Performance

Shares of NASDAQ CHRD opened at $126.70 on Monday. The company has a 50-day simple moving average of $122.60 and a 200-day simple moving average of $138.36. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.93 and a quick ratio of 0.89. The company has a market cap of $7.75 billion, a PE ratio of 6.52, a price-to-earnings-growth ratio of 4.79 and a beta of 0.99. Chord Energy has a 12 month low of $109.59 and a 12 month high of $190.23.

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

Insiders Place Their Bets

In other news, CAO Shannon Browning Kinney sold 1,000 shares of Chord Energy stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $116.35, for a total transaction of $116,350.00. Following the sale, the chief accounting officer now owns 19,488 shares in the company, valued at $2,267,428.80. This trade represents a 4.88 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.70% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Chord Energy

A number of large investors have recently added to or reduced their stakes in the company. Ashton Thomas Private Wealth LLC acquired a new position in Chord Energy in the 2nd quarter worth $40,000. Choreo LLC purchased a new stake in shares of Chord Energy during the second quarter worth about $534,000. Daiwa Securities Group Inc. acquired a new position in shares of Chord Energy in the second quarter worth about $738,000. State of New Jersey Common Pension Fund D boosted its holdings in Chord Energy by 3.6% in the second quarter. State of New Jersey Common Pension Fund D now owns 18,066 shares of the company’s stock valued at $3,029,000 after purchasing an additional 624 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale grew its stake in Chord Energy by 757.1% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 3,557 shares of the company’s stock valued at $590,000 after purchasing an additional 3,142 shares in the last quarter. 97.76% of the stock is 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.