Chord Energy (NASDAQ:CHRD) Price Target Cut to $175.00 by Analysts at BMO Capital Markets

Chord Energy (NASDAQ:CHRD) had its price objective decreased by stock analysts at BMO Capital Markets from $205.00 to $175.00 in a research note issued on Friday, Benzinga reports. The firm presently has an “outperform” rating on the stock. BMO Capital Markets’ target price would suggest a potential upside of 28.70% from the company’s current price.

A number of other analysts also recently commented on the company. Citigroup reduced their price objective on Chord Energy from $195.00 to $180.00 and set a “buy” rating for the company in a research report on Monday, August 12th. Wells Fargo & Company reduced their price objective on Chord Energy from $200.00 to $185.00 and set an “overweight” rating for the company in a research report on Tuesday. Bank of America raised their price objective on Chord Energy from $201.00 to $208.00 and gave the stock a “buy” rating in a research report on Wednesday, August 21st. Royal Bank of Canada reiterated an “outperform” rating and issued a $200.00 price objective on shares of Chord Energy in a research report on Friday, September 20th. Finally, Piper Sandler cut their target price on Chord Energy from $234.00 to $206.00 and set an “overweight” rating for the company in a research report on Thursday, August 15th. Two equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $192.40.

Chord Energy Stock Performance

NASDAQ:CHRD traded up $1.27 during mid-day trading on Friday, hitting $135.97. 309,201 shares of the company’s stock traded hands, compared to its average volume of 889,290. The firm has a 50 day moving average of $145.19 and a two-hundred day moving average of $165.21. Chord Energy has a 12 month low of $126.96 and a 12 month high of $190.23. The firm has a market capitalization of $5.67 billion, a price-to-earnings ratio of 6.38, a price-to-earnings-growth ratio of 4.92 and a beta of 0.97. The company has a current ratio of 0.96, a quick ratio of 0.91 and a debt-to-equity ratio of 0.11.

Chord Energy (NASDAQ:CHRD) last announced its earnings results on Wednesday, August 7th. The company reported $4.69 earnings per share for the quarter, missing the consensus estimate 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 for the quarter, compared to the consensus estimate of $982.43 million. During the same quarter in the previous year, the company earned $3.65 EPS. Chord Energy’s revenue for the quarter was up 29.8% compared to the same quarter last year. On average, equities analysts forecast that Chord Energy will post 18.48 earnings per share for the current fiscal year.

Insider Activity at Chord Energy

In other news, Director Samantha Holroyd bought 500 shares of the 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 purchase, the director now owns 14,417 shares of the company’s stock, valued at approximately $2,155,485.67. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 0.70% of the company’s stock.

Institutional Trading of Chord Energy

Institutional investors have recently modified their holdings of the company. Fortem Financial Group LLC increased its position in shares of Chord Energy by 1.6% in the first quarter. Fortem Financial Group LLC now owns 5,958 shares of the company’s stock valued at $1,062,000 after acquiring an additional 91 shares during the last quarter. New York State Teachers Retirement System grew its position in shares of Chord Energy by 0.6% in the first quarter. New York State Teachers Retirement System now owns 15,792 shares of the company’s stock valued at $2,815,000 after purchasing an additional 100 shares during the last quarter. Benjamin F. Edwards & Company Inc. grew its position in shares of Chord Energy by 125.9% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 244 shares of the company’s stock valued at $41,000 after purchasing an additional 136 shares during the last quarter. Rise Advisors LLC acquired a new position in shares of Chord Energy in the first quarter valued at approximately $31,000. Finally, Ellsworth Advisors LLC grew its position in shares of Chord Energy by 6.6% in the second quarter. Ellsworth Advisors LLC now owns 3,048 shares of the company’s stock valued at $511,000 after purchasing an additional 188 shares during the last quarter. 97.76% of the stock is currently 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.