Chord Energy (NASDAQ:CHRD) Stock Gets Price Target Increase from Truist Financial

by · The Markets Daily

Chord Energy (NASDAQ:CHRD – Get Free Report) had its price objective increased by stock analysts at Truist Financial from $195.00 to $197.00 in a research note issued to investors on Friday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. Truist Financial‘s price objective points to a potential upside of 44.66% from the stock’s previous close.

Several other brokerages have also recently weighed in on CHRD. Mizuho increased their target price on Chord Energy from $175.00 to $179.00 and gave the company an “outperform” rating in a report on Monday, October 5th. Zacks Research upgraded shares of Chord Energy from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 20th. Morgan Stanley increased their price target on shares of Chord Energy from $169.00 to $178.00 and gave the company an “overweight” rating in a research report on Thursday, October 15th. Citigroup raised their price target on shares of Chord Energy from $130.00 to $150.00 and gave the stock a “neutral” rating in a report on Thursday, September 17th. Finally, Weiss Ratings upgraded shares of Chord Energy from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, October 8th. Two analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $174.62.

Get Our Latest Research Report on Chord Energy

Chord Energy Price Performance

Shares of CHRD stock traded up $3.73 during trading on Friday, hitting $136.18. The company had a trading volume of 256,013 shares, compared to its average volume of 855,429. The company has a quick ratio of 1.15, a current ratio of 1.22 and a debt-to-equity ratio of 0.18. The stock’s 50-day moving average is $145.61 and its two-hundred day moving average is $131.65. The stock has a market capitalization of $7.45 billion, a price-to-earnings ratio of 8.52 and a beta of 0.48. Chord Energy has a 52 week low of $84.41 and a 52 week high of $159.96.

Chord Energy (NASDAQ:CHRD – Get Free Report) last announced its quarterly earnings data on Wednesday, November 4th. The company reported $6.08 earnings per share for the quarter, beating analysts’ consensus estimates of $5.68 by $0.40. The company had revenue of $1.71 billion for the quarter, compared to analysts’ expectations of $1.64 billion. Chord Energy had a return on equity of 12.58% and a net margin of 13.40%. Chord Energy’s revenue for the quarter was up 30.0% compared to the same quarter last year. During the same period last year, the firm posted $2.35 EPS. As a group, analysts predict that Chord Energy will post 23.11 EPS for the current fiscal year.

Insider Buying and Selling

In other news, EVP Shannon Kinney sold 4,019 shares of the business’s stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $140.00, for a total transaction of $562,660.00. Following the transaction, the executive vice president directly owned 13,560 shares of the company’s stock, valued at approximately $1,898,400. The trade was a 22.86% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Samantha Mckinney sold 9,750 shares of the company’s stock in a transaction that occurred on Tuesday, September 1st. The shares were sold at an average price of $149.94, for a total value of $1,461,915.00. Following the transaction, the director owned 7,280 shares of the company’s stock, valued at approximately $1,091,563.20. This represents a 57.25% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 15,969 shares of company stock worth $2,324,479. Corporate insiders own 0.79% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP raised its holdings in Chord Energy by 27.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,547,732 shares of the company’s stock worth $220,078,000 after purchasing an additional 329,565 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its stake in shares of Chord Energy by 1.0% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 734,416 shares of the company’s stock valued at $100,586,000 after purchasing an additional 7,250 shares in the last quarter. First Trust Advisors LP boosted its stake in shares of Chord Energy by 98.2% during the 1st quarter. First Trust Advisors LP now owns 579,920 shares of the company’s stock valued at $82,453,000 after purchasing an additional 287,340 shares in the last quarter. Bank of New York Mellon Corp bought a new stake in shares of Chord Energy during the 2nd quarter valued at about $66,489,000. Finally, Arrowstreet Capital Limited Partnership boosted its stake in shares of Chord Energy by 178.6% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 424,841 shares of the company’s stock valued at $60,404,000 after purchasing an additional 272,349 shares in the last quarter. 97.76% of the stock is owned by hedge funds and other institutional investors.

Chord Energy Company Profile

(Get Free Report)

Chord Energy Corporation is an independent exploration and production company focused on the development and operation of oil and natural gas properties in the United States. Its portfolio is concentrated in the Williston Basin, which spans parts of North Dakota and Montana. The company’s production mix includes crude oil, natural gas and natural gas liquids.

Chord’s operations include acquiring, developing and producing hydrocarbons from operated and non-operated wells, with an emphasis on drilling and completion activities in the Bakken and Three Forks formations.

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