Chord Energy (NASDAQ:CHRD) Price Target Cut to $172.00

Chord Energy (NASDAQ:CHRD – Get Rating) had its price objective dropped by Mizuho from $179.00 to $172.00 in a research note issued to investors on Friday, The Fly reports. Mizuho’s price target points to a potential upside of 17.03% from the company’s previous close.

A number of other analysts also recently commented on the company. Truist Financial dropped their price objective on Chord Energy from $252.00 to $246.00 in a report on Monday, May 8th. Royal Bank of Canada restated an “outperform” rating and set a $190.00 price target on shares of Chord Energy in a research note on Thursday, March 30th. Piper Sandler reduced their price objective on Chord Energy from $213.00 to $204.00 in a research note on Thursday. Stifel Nicolaus increased their target price on shares of Chord Energy from $182.00 to $185.00 in a research report on Thursday, April 27th. Finally, Bank of America began coverage on shares of Chord Energy in a research report on Wednesday, January 25th. They set a “buy” rating and a $178.00 price target on the stock. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, Chord Energy currently has an average rating of “Moderate Buy” and a consensus target price of $190.25.

Chord Energy Stock Up 0.9 %

Shares of NASDAQ:CHRD opened at $146.97 on Friday. The company has a current ratio of 1.18, a quick ratio of 1.13 and a debt-to-equity ratio of 0.08. The firm has a market cap of $6.11 billion, a price-to-earnings ratio of 3.48, a PEG ratio of 0.33 and a beta of 1.36. The stock’s 50-day moving average price is $137.41 and its two-hundred day moving average price is $139.85. Chord Energy has a 12-month low of $93.35 and a 12-month high of $181.34.

Chord Energy (NASDAQ:CHRD – Get Rating) last released its earnings results on Wednesday, February 22nd. The company reported $5.28 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.89 by ($0.61). Chord Energy had a return on equity of 23.51% and a net margin of 43.37%. The company had revenue of $1.02 billion during the quarter, compared to analyst estimates of $875.33 million. On average, research analysts forecast that Chord Energy will post 23.17 EPS for the current year.

Insider Activity

In related news, Director Lynn A. Peterson sold 3,000 shares of Chord Energy stock in a transaction on Monday, May 15th. The shares were sold at an average price of $140.56, for a total transaction of $421,680.00. Following the sale, the director now owns 235,098 shares of the company’s stock, valued at approximately $33,045,374.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Over the last three months, insiders sold 9,000 shares of company stock worth $1,282,590. 0.52% of the stock is currently owned by company insiders.

Institutional Trading of Chord Energy

A number of hedge funds and other institutional investors have recently modified their holdings of CHRD. BlackRock Inc. grew its stake in Chord Energy by 50.4% during the 1st quarter. BlackRock Inc. now owns 4,888,058 shares of the company’s stock valued at $657,933,000 after purchasing an additional 1,638,278 shares in the last quarter. First Trust Advisors LP grew its holdings in Chord Energy by 514.8% during the 1st quarter. First Trust Advisors LP now owns 1,477,124 shares of the company’s stock worth $198,821,000 after acquiring an additional 1,236,882 shares in the last quarter. JPMorgan Chase & Co. bought a new stake in shares of Chord Energy in the 4th quarter worth about $166,849,000. Fuller & Thaler Asset Management Inc. acquired a new stake in shares of Chord Energy in the 4th quarter valued at about $143,583,000. Finally, Jennison Associates LLC acquired a new position in Chord Energy in the fourth quarter worth about $128,428,000. 93.47% of the stock is owned by hedge funds and other institutional investors.

About Chord Energy

(Get Rating)

Chord Energy Corporation operates as an independent exploration and production company. It acquires, exploits, develops, and explores for crude oil, natural gas, and natural gas liquids in the Williston Basin. The company was founded in 2007 and is headquartered in Houston, Texas.