Chord Energy (NASDAQ:CHRD) PT Lowered to $175.00

Chord Energy (NASDAQ:CHRD) had its target price dropped by BMO Capital Markets from $205.00 to $175.00 in a research report issued to clients and investors on Friday, Benzinga reports. The brokerage currently has an “outperform” rating on the stock. BMO Capital Markets’ price target would suggest a potential upside of 28.25% from the company’s current price.

Several other equities research analysts have also issued reports on CHRD. Piper Sandler dropped their price target on Chord Energy from $234.00 to $206.00 and set an “overweight” rating on the stock in a research report on Thursday, August 15th. 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. Wolfe Research initiated coverage on shares of Chord Energy in a report on Thursday, July 18th. They issued a “peer perform” rating for the company. Wells Fargo & Company dropped their price objective on shares of Chord Energy from $200.00 to $185.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 1st. Finally, Citigroup decreased their target price on Chord Energy from $195.00 to $180.00 and set a “buy” rating for the company in a research note on Monday, August 12th. Two research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $192.40.

Chord Energy Price Performance

Shares of CHRD stock opened at $136.45 on Friday. The firm has a fifty day moving average of $144.47 and a two-hundred day moving average of $164.95. The firm has a market cap of $5.69 billion, a P/E ratio of 6.40, a P/E/G ratio of 4.92 and a beta of 0.97. Chord Energy has a 1-year low of $126.96 and a 1-year high of $190.23. 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 posted its quarterly earnings results on Wednesday, August 7th. The company reported $4.69 EPS for the quarter, missing analysts’ consensus estimates of $5.00 by ($0.31). Chord Energy had a return on equity of 15.06% and a net margin of 20.83%. The firm had revenue of $902.70 million during the quarter, compared to analyst estimates of $982.43 million. During the same quarter last year, the business posted $3.65 earnings per share. The firm’s revenue for the quarter was up 29.8% on a year-over-year basis. As a group, research analysts anticipate that Chord Energy will post 18.48 earnings per share for the current fiscal year.

Insider Activity at Chord Energy

In other Chord Energy news, Director Samantha Holroyd purchased 500 shares of Chord Energy stock in a transaction on Friday, August 23rd. The stock was bought at an average price of $149.51 per share, for a total transaction of $74,755.00. Following the transaction, the director now owns 14,417 shares of the company’s stock, valued at $2,155,485.67. The trade was a 0.00 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 0.70% of the stock is owned by insiders.

Institutional Trading of Chord Energy

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Rise Advisors LLC acquired a new position in shares of Chord Energy during the first quarter valued at approximately $31,000. Ashton Thomas Private Wealth LLC acquired a new position in shares of Chord Energy during the 2nd quarter valued at $40,000. Benjamin F. Edwards & Company Inc. increased its position in shares of Chord Energy by 125.9% during the 2nd 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 period. GAMMA Investing LLC raised its stake in shares of Chord Energy by 151.6% in the 2nd quarter. GAMMA Investing LLC now owns 317 shares of the company’s stock worth $53,000 after buying an additional 191 shares in the last quarter. Finally, Atlas Capital Advisors LLC acquired a new stake in shares of Chord Energy in the second quarter valued at $60,000. 97.76% of the stock is currently owned by institutional investors.

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.