Wells Fargo & Company Lowers Chord Energy (NASDAQ:CHRD) Price Target to $185.00

Chord Energy (NASDAQ:CHRD) had its price objective reduced by equities research analysts at Wells Fargo & Company from $200.00 to $185.00 in a report released on Tuesday, Benzinga reports. The firm currently has an “overweight” rating on the stock. Wells Fargo & Company‘s target price suggests a potential upside of 40.94% from the company’s previous close.

A number of other analysts also recently issued reports on the stock. BMO Capital Markets began coverage on shares of Chord Energy in a report on Monday, June 3rd. They set an “outperform” rating and a $230.00 price target on the stock. Citigroup dropped their price target on shares of Chord Energy from $195.00 to $180.00 and set a “buy” rating on the stock in a report on Monday, August 12th. Jefferies Financial Group began coverage on shares of Chord Energy in a report on Thursday, September 5th. They set a “hold” rating and a $160.00 price target on the stock. Wolfe Research began coverage on shares of Chord Energy in a report on Thursday, July 18th. They set a “peer perform” rating on the stock. Finally, Piper Sandler dropped their price target on shares of Chord Energy from $234.00 to $206.00 and set an “overweight” rating on the stock in a report on Thursday, August 15th. Two equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $197.90.

Chord Energy Stock Up 0.8 %

CHRD stock traded up $1.03 during trading on Tuesday, hitting $131.26. 509,404 shares of the stock traded hands, compared to its average volume of 892,003. Chord Energy has a 1 year low of $126.96 and a 1 year high of $190.23. The firm’s 50 day moving average is $147.58 and its two-hundred day moving average is $165.92. The stock has a market cap of $5.47 billion, a price-to-earnings ratio of 6.17, a price-to-earnings-growth ratio of 4.92 and a beta of 0.99. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.96 and a quick ratio of 0.91.

Chord Energy (NASDAQ:CHRD) last announced its quarterly earnings data on Wednesday, August 7th. The company reported $4.69 EPS for the quarter, missing the consensus estimate of $5.00 by ($0.31). The firm had revenue of $902.70 million for the quarter, compared to analysts’ expectations of $982.43 million. Chord Energy had a net margin of 20.83% and a return on equity of 15.06%. The business’s revenue for the quarter was up 29.8% compared to the same quarter last year. During the same period last year, the company posted $3.65 earnings per share. On average, sell-side analysts anticipate that Chord Energy will post 18.48 EPS for the current year.

Insiders Place Their Bets

In other news, Director Samantha Holroyd bought 500 shares of the firm’s stock in a transaction on Friday, August 23rd. The shares were bought at an average price of $149.51 per share, for a total transaction of $74,755.00. Following the purchase, the director now owns 14,417 shares in the company, valued at $2,155,485.67. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.70% of the stock is owned by company insiders.

Institutional Investors Weigh In On Chord Energy

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Rise Advisors LLC bought a new stake in shares of Chord Energy during the first quarter valued at approximately $31,000. Ashton Thomas Private Wealth LLC bought a new stake in shares of Chord Energy during the second quarter valued at approximately $40,000. Benjamin F. Edwards & Company Inc. raised its position in shares of Chord Energy by 125.9% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 244 shares of the company’s stock valued at $41,000 after buying an additional 136 shares during the last quarter. GAMMA Investing LLC raised its position in shares of Chord Energy by 151.6% during the second quarter. GAMMA Investing LLC now owns 317 shares of the company’s stock valued at $53,000 after buying an additional 191 shares during the last quarter. Finally, Atlas Capital Advisors LLC bought a new stake in Chord Energy in the second quarter worth $60,000. 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.