Chord Energy (NASDAQ:CHRD) Earns “Outperform” Rating from Royal Bank of Canada

Chord Energy (NASDAQ:CHRD)‘s stock had its “outperform” rating reiterated by research analysts at Royal Bank of Canada in a research report issued to clients and investors on Friday, Benzinga reports. They currently have a $200.00 price objective on the stock. Royal Bank of Canada’s target price points to a potential upside of 46.93% from the company’s current price.

Other equities research analysts also recently issued reports about the company. Jefferies Financial Group started coverage on Chord Energy in a research report on Thursday, September 5th. They issued a “hold” rating and a $160.00 price target on the stock. Citigroup reduced their price objective on shares of Chord Energy from $195.00 to $180.00 and set a “buy” rating for the company in a report on Monday, August 12th. Wolfe Research started coverage on Chord Energy in a research note on Thursday, July 18th. They issued a “peer perform” rating on the stock. Truist Financial decreased their price objective on shares of Chord Energy from $226.00 to $223.00 and set a “buy” rating on the stock in a research note on Monday, July 22nd. Finally, Bank of America lifted their price target on Chord Energy from $201.00 to $208.00 and gave the company a “buy” rating in a report on Wednesday, August 21st. Two research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $202.10.

Chord Energy Stock Down 0.2 %

Chord Energy stock traded down $0.22 during mid-day trading on Friday, hitting $136.12. The company’s stock had a trading volume of 87,183 shares, compared to its average volume of 881,765. The firm’s 50 day moving average is $153.51 and its 200 day moving average is $167.31. 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 company has a market cap of $5.68 billion, a PE ratio of 6.37, a price-to-earnings-growth ratio of 4.48 and a beta of 0.99. Chord Energy has a 52-week low of $129.75 and a 52-week high of $190.23.

Chord Energy (NASDAQ:CHRD) last posted its earnings results on Wednesday, August 7th. The company reported $4.69 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $5.00 by ($0.31). Chord Energy had a net margin of 20.83% and a return on equity of 15.06%. The business had revenue of $902.70 million during the quarter, compared to analyst estimates of $982.43 million. During the same quarter last year, the firm earned $3.65 earnings per share. Chord Energy’s revenue was up 29.8% compared to the same quarter last year. On average, analysts anticipate that Chord Energy will post 19.67 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Samantha Holroyd acquired 500 shares of Chord Energy stock in a transaction dated Friday, August 23rd. The stock was bought at an average cost of $149.51 per share, with a total value of $74,755.00. Following the completion of the transaction, the director now directly owns 14,417 shares of the company’s stock, valued at $2,155,485.67. 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 Investors Weigh In On Chord Energy

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Sanctuary Advisors LLC acquired a new stake in Chord Energy in the 2nd quarter valued at about $788,000. Aristides Capital LLC bought a new position in Chord Energy during the 2nd quarter worth $222,000. Cetera Investment Advisers lifted its holdings in shares of Chord Energy by 165.0% during the 2nd quarter. Cetera Investment Advisers now owns 25,124 shares of the company’s stock worth $4,213,000 after acquiring an additional 15,645 shares during the period. KGH Ltd lifted its stake 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 purchasing an additional 435,998 shares during the last quarter. Finally, Creative Planning boosted its stake in Chord Energy by 85.2% in the second quarter. Creative Planning now owns 14,748 shares of the company’s stock valued at $2,473,000 after buying an additional 6,786 shares in the last quarter. 97.76% of the stock is owned by institutional investors.

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.