Piper Sandler Lowers Chord Energy (NASDAQ:CHRD) Price Target to $194.00

Chord Energy (NASDAQ:CHRD) had its price target reduced by stock analysts at Piper Sandler from $212.00 to $194.00 in a research note issued on Tuesday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Piper Sandler’s price target suggests a potential upside of 73.93% from the company’s current price.

Several other equities research analysts have also recently weighed in on the company. BMO Capital Markets reduced their price target on Chord Energy from $205.00 to $175.00 and set an “outperform” rating on the stock in a research note on Friday, October 4th. Siebert Williams Shank upgraded shares of Chord Energy to a “strong-buy” rating in a research note on Tuesday, October 15th. Truist Financial lowered their price target on shares of Chord Energy from $223.00 to $185.00 and set a “buy” rating for the company in a research report on Monday, September 30th. Jefferies Financial Group initiated coverage on shares of Chord Energy in a report on Thursday, September 5th. They issued a “hold” rating and a $160.00 price objective on the stock. Finally, UBS Group lowered their target price on shares of Chord Energy from $168.00 to $161.00 and set a “buy” rating for the company in a report on Monday, December 9th. Two 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. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $182.55.

Chord Energy Stock Performance

NASDAQ:CHRD opened at $111.54 on Tuesday. The company has a quick ratio of 0.89, a current ratio of 0.93 and a debt-to-equity ratio of 0.10. The firm’s fifty day simple moving average is $127.08 and its 200 day simple moving average is $145.54. The stock has a market cap of $6.82 billion, a P/E ratio of 5.74, a price-to-earnings-growth ratio of 4.79 and a beta of 0.96. Chord Energy has a twelve month low of $111.50 and a twelve month high of $190.23.

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

Insiders Place Their Bets

In other Chord Energy news, CAO Shannon Browning Kinney sold 1,000 shares of the business’s stock in a transaction 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 completion of the sale, the chief accounting officer now directly owns 19,488 shares in the company, valued at approximately $2,267,428.80. The trade was a 4.88 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.70% of the stock is owned by insiders.

Institutional Trading of Chord Energy

A number of hedge funds have recently bought and sold shares of the company. Victory Capital Management Inc. grew its stake in shares of Chord Energy by 397.5% during the 2nd quarter. Victory Capital Management Inc. now owns 1,589,061 shares of the company’s stock valued at $266,454,000 after purchasing an additional 1,269,658 shares during the period. Pacer Advisors Inc. boosted its holdings in shares of Chord Energy by 8,762.1% in the third quarter. Pacer Advisors Inc. now owns 1,245,034 shares of the company’s stock worth $162,141,000 after buying an additional 1,230,985 shares during the last quarter. Dimensional Fund Advisors LP grew its position in Chord Energy by 72.0% during the second quarter. Dimensional Fund Advisors LP now owns 1,771,780 shares of the company’s stock valued at $297,090,000 after buying an additional 741,705 shares during the period. Point72 Asset Management L.P. increased its holdings in Chord Energy by 143.8% during the third quarter. Point72 Asset Management L.P. now owns 880,787 shares of the company’s stock valued at $114,705,000 after buying an additional 519,547 shares during the last quarter. Finally, Millennium Management LLC raised its position in Chord Energy by 226.5% in the second quarter. Millennium Management LLC now owns 696,488 shares of the company’s stock worth $116,787,000 after acquiring an additional 483,144 shares during the period. Hedge funds and other 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.