Chord Energy (NASDAQ:CHRD) Earns “Neutral” Rating from Bank of America

Chord Energy (NASDAQ:CHRD)‘s stock had its “neutral” rating restated by research analysts at Bank of America in a report issued on Monday, Marketbeat reports. They currently have a $138.00 target price on the stock, down from their previous target price of $208.00. Bank of America‘s target price indicates a potential upside of 8.92% from the company’s current price.

CHRD has been the subject of several other research reports. Royal Bank of Canada decreased their price target on shares of Chord Energy from $185.00 to $180.00 and set an “outperform” rating for the company in a report on Wednesday, November 20th. Piper Sandler reduced their price objective on Chord Energy from $212.00 to $194.00 and set an “overweight” rating for the company in a research report on Tuesday, December 17th. BMO Capital Markets cut their target price 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. UBS Group lowered their price objective on shares of Chord Energy from $168.00 to $161.00 and set a “buy” rating on the stock in a report on Monday, December 9th. Finally, Siebert Williams Shank raised shares of Chord Energy to a “strong-buy” rating in a research report on Tuesday, October 15th. Three investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $173.23.

Chord Energy Stock Up 0.7 %

Shares of CHRD opened at $126.70 on Monday. The business’s 50 day simple moving average is $122.60 and its 200-day simple moving average is $138.65. Chord Energy has a one year low of $109.59 and a one year high of $190.23. The company has a market capitalization of $7.75 billion, a P/E ratio of 6.52, a PEG ratio of 4.79 and a beta of 0.99. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.93 and a quick ratio of 0.89.

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

Insider Transactions at Chord Energy

In other news, CAO Shannon Browning Kinney sold 1,000 shares of the stock in a transaction on Monday, December 16th. The stock was sold at an average price of $116.35, for a total value of $116,350.00. Following the completion of the transaction, the chief accounting officer now directly owns 19,488 shares in the company, valued at approximately $2,267,428.80. This represents a 4.88 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.70% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in CHRD. Hexagon Capital Partners LLC grew its stake in Chord Energy by 462.9% during the third quarter. Hexagon Capital Partners LLC now owns 197 shares of the company’s stock worth $26,000 after purchasing an additional 162 shares during the period. Stone House Investment Management LLC acquired a new position in Chord Energy during the 3rd quarter worth approximately $26,000. UMB Bank n.a. grew its stake in Chord Energy by 77.7% in the third quarter. UMB Bank n.a. now owns 231 shares of the company’s stock valued at $30,000 after acquiring an additional 101 shares during the period. Ashton Thomas Private Wealth LLC bought a new position in shares of Chord Energy in the 2nd quarter worth $40,000. Finally, Benjamin F. Edwards & Company Inc. lifted its stake 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 buying an additional 136 shares in the last quarter. 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.