Chord Energy (NASDAQ:CHRD) Price Target Cut to $185.00

Chord Energy (NASDAQ:CHRD) had its price objective decreased by equities researchers at Truist Financial from $223.00 to $185.00 in a report released on Monday, Benzinga reports. The firm currently has a “buy” rating on the stock. Truist Financial’s target price points to a potential upside of 41.66% from the stock’s current price.

CHRD has been the subject of several other reports. BMO Capital Markets started coverage on Chord Energy in a research note on Monday, June 3rd. They set an “outperform” rating and a $230.00 target price for the company. Jefferies Financial Group began coverage on Chord Energy in a research note on Thursday, September 5th. They set a “hold” rating and a $160.00 price objective for the company. Wolfe Research assumed coverage on Chord Energy in a research report on Thursday, July 18th. They issued a “peer perform” rating on the stock. Piper Sandler reduced their target price on Chord Energy from $234.00 to $206.00 and set an “overweight” rating for the company in a research note on Thursday, August 15th. Finally, Bank of America lifted their price target on shares of Chord Energy from $201.00 to $208.00 and gave the stock a “buy” rating in a research note on Wednesday, August 21st. Two research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $197.90.

Chord Energy Stock Performance

Chord Energy stock opened at $130.59 on Monday. The firm has a market capitalization of $5.44 billion, a PE ratio of 6.17, a price-to-earnings-growth ratio of 4.92 and a beta of 0.99. Chord Energy has a one year low of $126.96 and a one year high of $190.23. The stock’s 50 day moving average price is $147.58 and its 200 day moving average price is $165.92. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.91 and a current ratio of 0.96.

Chord Energy (NASDAQ:CHRD) last posted its 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). The firm had revenue of $902.70 million for the quarter, compared to analyst estimates of $982.43 million. Chord Energy had a return on equity of 15.06% and a net margin of 20.83%. The company’s revenue for the quarter was up 29.8% on a year-over-year basis. During the same period in the previous year, the firm posted $3.65 earnings per share. As a group, sell-side analysts expect that Chord Energy will post 18.48 EPS for the current fiscal year.

Insider Activity

In other news, Director Samantha Holroyd purchased 500 shares of the stock in a transaction dated Friday, August 23rd. The shares were bought at an average cost of $149.51 per share, for a total transaction of $74,755.00. Following the transaction, the director now owns 14,417 shares in the company, valued at $2,155,485.67. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.70% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Kraematon Investment Advisors Inc. acquired a new stake in shares of Chord Energy during the second quarter worth $4,426,000. Capital Fund Management S.A. lifted its stake in Chord Energy by 252.9% during the fourth quarter. Capital Fund Management S.A. now owns 43,934 shares of the company’s stock valued at $7,303,000 after buying an additional 31,484 shares in the last quarter. Sei Investments Co. lifted its stake in Chord Energy by 24.0% during the first quarter. Sei Investments Co. now owns 144,166 shares of the company’s stock valued at $25,696,000 after buying an additional 27,903 shares in the last quarter. Quantbot Technologies LP acquired a new position in shares of Chord Energy in the first quarter worth about $884,000. Finally, BOKF NA increased its position in shares of Chord Energy by 1,678.3% in the first quarter. BOKF NA now owns 15,471 shares of the company’s stock worth $2,751,000 after acquiring an additional 14,601 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.