Chord Energy (NASDAQ:CHRD) Stock Rating Upgraded by Zacks Research
by Danessa Lincoln · The Markets DailyChord Energy (NASDAQ:CHRD – Get Free Report) was upgraded by Zacks Research from a “hold” rating to a “strong-buy” rating in a research note issued on Monday,Zacks.com reports.
Other analysts have also recently issued research reports about the stock. Piper Sandler boosted their price objective on shares of Chord Energy from $158.00 to $190.00 and gave the stock an “overweight” rating in a research note on Thursday, March 12th. Jefferies Financial Group set a $99.00 price objective on shares of Chord Energy in a research note on Saturday, January 17th. Wells Fargo & Company boosted their price objective on shares of Chord Energy from $109.00 to $136.00 and gave the stock an “overweight” rating in a research note on Monday, March 16th. Mizuho set a $148.00 target price on shares of Chord Energy in a report on Friday, January 9th. Finally, UBS Group boosted their target price on shares of Chord Energy from $119.00 to $142.00 and gave the company a “buy” rating in a report on Thursday, March 5th. Two research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $141.83.
Check Out Our Latest Research Report on Chord Energy
Chord Energy Trading Down 9.0%
Shares of Chord Energy stock traded down $13.08 during trading on Monday, hitting $132.30. The company’s stock had a trading volume of 1,042,636 shares, compared to its average volume of 1,023,544. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.06 and a quick ratio of 0.98. Chord Energy has a 52 week low of $79.83 and a 52 week high of $148.41. The stock has a market cap of $7.50 billion, a price-to-earnings ratio of 209.36 and a beta of 0.66. The stock has a 50-day moving average price of $117.53 and a two-hundred day moving average price of $101.94.
Chord Energy (NASDAQ:CHRD – Get Free Report) last issued its quarterly earnings data on Wednesday, February 25th. The company reported $1.28 earnings per share for the quarter, topping the consensus estimate of $1.17 by $0.11. Chord Energy had a net margin of 0.91% and a return on equity of 6.71%. The company had revenue of $1.17 billion for the quarter, compared to analysts’ expectations of $1.03 billion. During the same quarter in the previous year, the firm posted $3.49 earnings per share. Chord Energy’s revenue for the quarter was down 19.6% on a year-over-year basis. Equities research analysts anticipate that Chord Energy will post 15.59 EPS for the current fiscal year.
Insider Activity
In related news, EVP Michael H. Lou sold 15,000 shares of the business’s stock in a transaction on Thursday, March 12th. The shares were sold at an average price of $125.47, for a total value of $1,882,050.00. Following the transaction, the executive vice president owned 82,699 shares in the company, valued at $10,376,243.53. The trade was a 15.35% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Lara J. Kroll sold 5,000 shares of the company’s stock in a transaction dated Tuesday, March 3rd. The shares were sold at an average price of $113.66, for a total transaction of $568,300.00. Following the transaction, the chief accounting officer owned 8,921 shares in the company, valued at $1,013,960.86. This represents a 35.92% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 23,927 shares of company stock worth $2,912,028 in the last three months. Corporate insiders own 0.70% of the company’s stock.
Hedge Funds Weigh In On Chord Energy
Several institutional investors have recently made changes to their positions in CHRD. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of Chord Energy by 17.1% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 123,964 shares of the company’s stock valued at $13,973,000 after purchasing an additional 18,137 shares during the period. Focus Partners Wealth acquired a new position in shares of Chord Energy during the first quarter valued at about $289,000. Prudential Financial Inc. raised its holdings in shares of Chord Energy by 3.5% during the second quarter. Prudential Financial Inc. now owns 7,396 shares of the company’s stock valued at $716,000 after purchasing an additional 253 shares during the period. M&T Bank Corp raised its holdings in shares of Chord Energy by 48.8% during the second quarter. M&T Bank Corp now owns 4,056 shares of the company’s stock valued at $393,000 after purchasing an additional 1,330 shares during the period. Finally, EverSource Wealth Advisors LLC raised its holdings in shares of Chord Energy by 364.2% during the second quarter. EverSource Wealth Advisors LLC now owns 1,555 shares of the company’s stock valued at $151,000 after purchasing an additional 1,220 shares during the period. Institutional investors and hedge funds own 97.76% of the company’s stock.
Chord Energy Company Profile
Chord Energy Corporation (NASDAQ: CHRD), formerly known as Oasis Petroleum Inc, is an independent exploration and production company focused on the acquisition, development and production of crude oil, natural gas and natural gas liquids. Headquartered in Houston, Texas, Chord Energy emerged from financial restructuring in early 2021 and rebranded in October 2022 to reflect its renewed strategic vision.
The company’s core operations are concentrated in two prolific U.S. resource plays: the Williston Basin across North Dakota and Montana, and the Delaware Basin spanning parts of West Texas and southeastern New Mexico.