Chord Energy (NASDAQ:CHRD) Stock Rating Lowered by Pickering Energy Partners

Chord Energy (NASDAQ:CHRD) was downgraded by research analysts at Pickering Energy Partners from an “outperform” rating to a “neutral” rating in a research report issued to clients and investors on Friday, MarketBeat.com reports.

Other equities research analysts also recently issued reports about the stock. Morgan Stanley set a $123.00 price target on shares of Chord Energy in a research note on Thursday, November 20th. Mizuho raised their target price on Chord Energy from $142.00 to $150.00 and gave the company an “outperform” rating in a research note on Friday, December 12th. UBS Group dropped their price target on Chord Energy from $130.00 to $123.00 and set a “buy” rating on the stock in a research note on Wednesday, November 12th. William Blair began coverage on Chord Energy in a report on Friday, November 21st. They issued an “outperform” rating on the stock. Finally, Piper Sandler reduced their price objective on Chord Energy from $167.00 to $165.00 and set an “overweight” rating for the company in a research note on Tuesday, November 18th. Ten research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $136.42.

Chord Energy Price Performance

Chord Energy stock opened at $92.13 on Friday. The stock has a market capitalization of $5.24 billion, a price-to-earnings ratio of 35.43 and a beta of 0.92. Chord Energy has a 52-week low of $79.83 and a 52-week high of $129.32. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.28 and a current ratio of 1.35. The stock’s 50 day moving average price is $92.27 and its two-hundred day moving average price is $98.55.

Chord Energy (NASDAQ:CHRD) last released its quarterly earnings data on Tuesday, November 4th. The company reported $2.35 earnings per share for the quarter, beating the consensus estimate of $2.24 by $0.11. Chord Energy had a net margin of 3.31% and a return on equity of 8.27%. The company had revenue of $1.31 billion during the quarter, compared to analyst estimates of $1.02 billion. During the same quarter in the previous year, the business posted $3.40 EPS. Chord Energy’s revenue for the quarter was up 17.0% 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 year.

Insider Buying and Selling at Chord Energy

In related news, Director Samantha Holroyd bought 1,250 shares of the business’s stock in a transaction that occurred on Friday, November 7th. The shares were bought at an average price of $85.50 per share, with a total value of $106,875.00. Following the completion of the transaction, the director directly owned 17,706 shares in the company, valued at approximately $1,513,863. This represents a 7.60% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.70% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Chord Energy

Several large investors have recently bought and sold shares of the stock. Massachusetts Financial Services Co. MA bought a new stake in shares of Chord Energy in the 3rd quarter worth $91,434,000. Orion Porfolio Solutions LLC boosted its holdings in Chord Energy by 6,714.2% during the second quarter. Orion Porfolio Solutions LLC now owns 709,086 shares of the company’s stock worth $68,675,000 after purchasing an additional 698,680 shares during the last quarter. AQR Capital Management LLC grew its position in Chord Energy by 210.5% in the 2nd quarter. AQR Capital Management LLC now owns 734,225 shares of the company’s stock worth $71,110,000 after purchasing an additional 497,789 shares in the last quarter. Barclays PLC increased its stake in Chord Energy by 186.2% in the 3rd quarter. Barclays PLC now owns 501,170 shares of the company’s stock valued at $49,801,000 after buying an additional 326,054 shares during the last quarter. Finally, Wellington Management Group LLP increased its stake in Chord Energy by 19.9% in the 3rd quarter. Wellington Management Group LLP now owns 1,705,153 shares of the company’s stock valued at $169,441,000 after buying an additional 282,746 shares during the last quarter. 97.76% of the stock is currently owned by institutional investors.

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.