Wells Fargo & Company Increases Chord Energy (NASDAQ:CHRD) Price Target to $143.00

Chord Energy (NASDAQ:CHRD) had its target price increased by research analysts at Wells Fargo & Company from $142.00 to $143.00 in a research note issued on Tuesday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Wells Fargo & Company‘s price objective would indicate a potential upside of 39.92% from the stock’s previous close.

A number of other equities research analysts have also issued reports on the company. Mizuho dropped their price target on Chord Energy from $154.00 to $150.00 and set an “outperform” rating for the company in a research report on Tuesday, May 13th. Citigroup boosted their price objective on Chord Energy from $120.00 to $125.00 and gave the stock a “buy” rating in a research note on Wednesday, July 9th. Royal Bank Of Canada cut their target price on Chord Energy from $165.00 to $145.00 and set an “outperform” rating for the company in a research note on Friday, April 11th. Wall Street Zen upgraded Chord Energy from a “sell” rating to a “hold” rating in a report on Friday, June 27th. Finally, Morgan Stanley set a $139.00 price objective on shares of Chord Energy and gave the company a “cautious” rating in a report on Wednesday, March 26th. One research analyst has rated the stock with a sell rating, two have given a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Chord Energy has an average rating of “Moderate Buy” and an average price target of $151.15.

Chord Energy Trading Down 1.8%

Shares of CHRD opened at $102.20 on Tuesday. Chord Energy has a 52-week low of $79.83 and a 52-week high of $181.17. The stock has a market cap of $5.90 billion, a PE ratio of 6.84 and a beta of 0.96. The firm’s fifty day moving average is $98.78 and its two-hundred day moving average is $104.50. The company has a quick ratio of 0.83, a current ratio of 0.89 and a debt-to-equity ratio of 0.09.

Chord Energy (NASDAQ:CHRD) last posted its quarterly earnings results on Tuesday, May 6th. The company reported $4.04 earnings per share for the quarter, topping the consensus estimate of $3.60 by $0.44. Chord Energy had a net margin of 16.15% and a return on equity of 10.34%. The firm had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.07 billion. During the same period last year, the firm posted $5.10 earnings per share. The company’s revenue for the quarter was up 12.0% on a year-over-year basis. Research analysts forecast that Chord Energy will post 15.59 earnings per share for the current fiscal year.

Insider Buying and Selling at Chord Energy

In related news, EVP Shannon Browning Kinney sold 3,091 shares of Chord Energy stock in a transaction that occurred on Thursday, May 8th. The shares were sold at an average price of $94.10, for a total value of $290,863.10. Following the completion of the sale, the executive vice president owned 21,277 shares in the company, valued at approximately $2,002,165.70. This trade represents a 12.68% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.70% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the company. Altshuler Shaham Ltd acquired a new position in shares of Chord Energy in the fourth quarter valued at approximately $25,000. Twin Tree Management LP purchased a new position in Chord Energy in the 4th quarter valued at approximately $33,000. Hexagon Capital Partners LLC grew its stake in shares of Chord Energy by 321.7% in the first quarter. Hexagon Capital Partners LLC now owns 447 shares of the company’s stock worth $50,000 after acquiring an additional 341 shares in the last quarter. Caitong International Asset Management Co. Ltd grew its stake in shares of Chord Energy by 5,877.8% in the first quarter. Caitong International Asset Management Co. Ltd now owns 538 shares of the company’s stock worth $61,000 after acquiring an additional 529 shares in the last quarter. Finally, Pilgrim Partners Asia Pte Ltd purchased a new stake in shares of Chord Energy during the fourth quarter worth $80,000. 97.76% of the stock is currently owned by institutional investors and hedge funds.

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.