Chord Energy (NASDAQ:CHRD) PT Lowered to $180.00

Chord Energy (NASDAQ:CHRD) had its price objective cut by research analysts at Wells Fargo & Company from $185.00 to $180.00 in a note issued to investors on Wednesday, Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Wells Fargo & Company‘s price target suggests a potential upside of 37.85% from the company’s previous close.

A number of other research firms also recently commented on CHRD. Truist Financial cut their price objective on Chord Energy from $223.00 to $185.00 and set a “buy” rating on the stock in a report on Monday, September 30th. Piper Sandler lifted their price target on shares of Chord Energy from $206.00 to $211.00 and gave the company an “overweight” rating in a research report on Tuesday. UBS Group assumed coverage on shares of Chord Energy in a research report on Wednesday. They issued a “buy” rating and a $168.00 price objective for the company. Jefferies Financial Group started coverage on shares of Chord Energy in a report on Thursday, September 5th. They set a “hold” rating and a $160.00 target price on the stock. Finally, BMO Capital Markets lowered their price target on Chord Energy from $205.00 to $175.00 and set an “outperform” rating for the company in a report on Friday, October 4th. Two research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $190.18.

Chord Energy Trading Up 1.7 %

NASDAQ CHRD opened at $130.58 on Wednesday. The company has a 50-day moving average of $139.44 and a 200-day moving average of $162.43. 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 has a 12 month low of $126.38 and a 12 month high of $190.23. The company has a market cap of $5.44 billion, a P/E ratio of 6.13, a P/E/G ratio of 4.92 and a beta of 0.97.

Chord Energy (NASDAQ:CHRD) last announced its quarterly earnings results on Wednesday, August 7th. The company reported $4.69 earnings per share for the quarter, missing analysts’ consensus estimates of $5.00 by ($0.31). The company had revenue of $902.70 million during the quarter, compared to analyst estimates of $982.43 million. Chord Energy had a net margin of 20.83% and a return on equity of 15.06%. The firm’s revenue for the quarter was up 29.8% compared to the same quarter last year. During the same quarter last year, the business earned $3.65 EPS. As a group, equities analysts predict that Chord Energy will post 17.93 earnings per share for the current year.

Insider Transactions at Chord Energy

In other news, Director Samantha Holroyd acquired 500 shares of the stock in a transaction that occurred on Friday, August 23rd. The stock was purchased at an average cost of $149.51 per share, with a total value of $74,755.00. Following the completion of the acquisition, the director now directly owns 14,417 shares in the company, valued at $2,155,485.67. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.70% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. Sumitomo Mitsui DS Asset Management Company Ltd raised its position in shares of Chord Energy by 2.7% during the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 5,464 shares of the company’s stock valued at $712,000 after acquiring an additional 145 shares in the last quarter. Redmont Wealth Advisors LLC bought a new stake in Chord Energy during the third quarter valued at $467,000. Arkfeld Wealth Strategies L.L.C. acquired a new stake in shares of Chord Energy during the third quarter worth $12,152,000. UMB Bank n.a. lifted its position in shares of Chord Energy by 77.7% in the 3rd quarter. UMB Bank n.a. now owns 231 shares of the company’s stock worth $30,000 after buying an additional 101 shares during the last quarter. Finally, Hexagon Capital Partners LLC boosted its holdings in shares of Chord Energy by 462.9% in the 3rd quarter. Hexagon Capital Partners LLC now owns 197 shares of the company’s stock valued at $26,000 after buying an additional 162 shares during the period. Institutional investors and hedge funds own 97.76% of the company’s stock.

About Chord Energy

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.