Chord Energy (NASDAQ:CHRD) Price Target Raised to $158.00 at Piper Sandler

by · The Markets Daily

Chord Energy (NASDAQ:CHRD – Get Free Report) had its target price upped by Piper Sandler from $151.00 to $158.00 in a research report issued on Thursday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Piper Sandler’s price target suggests a potential upside of 30.63% from the company’s previous close.

Several other equities research analysts have also issued reports on the company. Weiss Ratings lowered Chord Energy from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Monday. Morgan Stanley cut their target price on Chord Energy from $123.00 to $114.00 and set an “equal weight” rating for the company in a research note on Friday, January 23rd. UBS Group lifted their price target on shares of Chord Energy from $119.00 to $142.00 and gave the stock a “buy” rating in a research note on Thursday. Pickering Energy Partners cut shares of Chord Energy from an “outperform” rating to a “neutral” rating in a research note on Friday, January 9th. Finally, Jefferies Financial Group set a $99.00 price target on shares of Chord Energy in a research report on Saturday, January 17th. Eight equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, Chord Energy currently has an average rating of “Hold” and a consensus price target of $123.82.

Get Our Latest Stock Analysis on Chord Energy

Chord Energy Price Performance

Chord Energy stock traded up $6.95 during mid-day trading on Thursday, hitting $120.95. 768,587 shares of the company traded hands, compared to its average volume of 870,517. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.98 and a current ratio of 1.06. Chord Energy has a one year low of $79.83 and a one year high of $121.05. The stock has a market cap of $6.87 billion, a price-to-earnings ratio of 191.98 and a beta of 0.84. The stock has a fifty day moving average price of $98.23 and a 200-day moving average price of $97.32.

Chord Energy (NASDAQ:CHRD – Get Free Report) last issued its quarterly earnings results on Wednesday, February 25th. The company reported $1.28 EPS for the quarter, topping analysts’ consensus estimates of $1.17 by $0.11. Chord Energy had a net margin of 0.91% and a return on equity of 6.71%. The firm had revenue of $1.17 billion for the quarter, compared to analyst estimates of $1.03 billion. During the same quarter in the prior year, the firm earned $3.49 EPS. The business’s revenue for the quarter was down 19.6% compared to the same quarter last year. On average, equities analysts predict that Chord Energy will post 15.59 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Chord Energy

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Citigroup Inc. boosted its stake in shares of Chord Energy by 31.1% during the 3rd quarter. Citigroup Inc. now owns 111,590 shares of the company’s stock valued at $11,089,000 after purchasing an additional 26,499 shares in the last quarter. Massachusetts Financial Services Co. MA purchased a new stake in Chord Energy in the third quarter worth about $91,434,000. Wedge Capital Management L L P NC bought a new stake in Chord Energy during the 3rd quarter valued at approximately $13,092,000. AlphaQuest LLC grew its holdings in shares of Chord Energy by 1,576.7% during the 3rd quarter. AlphaQuest LLC now owns 27,933 shares of the company’s stock worth $2,776,000 after acquiring an additional 26,267 shares during the period. Finally, Westwood Holdings Group Inc. lifted its stake in shares of Chord Energy by 22.9% in the 2nd quarter. Westwood Holdings Group Inc. now owns 214,680 shares of the company’s stock valued at $20,792,000 after purchasing an additional 39,980 shares during the period. Institutional investors own 97.76% of the company’s stock.

About Chord Energy

(Get Free Report)

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.

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