Scotiabank Boosts Chord Energy (NASDAQ:CHRD) Price Target to $135.00

Chord Energy (NASDAQ:CHRD) had its price objective lifted by analysts at Scotiabank from $114.00 to $135.00 in a report issued on Wednesday,Benzinga reports. The firm currently has a “sector perform” rating on the stock. Scotiabank’s price objective would indicate a potential downside of 1.57% from the stock’s previous close.

Several other brokerages have also recently issued reports on CHRD. Piper Sandler increased their price target on shares of Chord Energy from $158.00 to $190.00 and gave the stock an “overweight” rating in a research report on Thursday, March 12th. Truist Financial increased their price target on shares of Chord Energy from $169.00 to $187.00 and gave the stock a “buy” rating in a research report on Monday, April 13th. Wall Street Zen raised shares of Chord Energy from a “sell” rating to a “hold” rating in a research report on Saturday, March 28th. Pickering Energy Partners cut Chord Energy from an “outperform” rating to a “neutral” rating in a research note on Friday, January 9th. Finally, Roth Mkm reiterated a “buy” rating and issued a $140.00 price objective (up from $130.00) on shares of Chord Energy in a research note on Friday, April 17th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $152.23.

Chord Energy Stock Up 1.7%

NASDAQ:CHRD opened at $137.16 on Wednesday. The stock has a market capitalization of $7.78 billion, a price-to-earnings ratio of 217.71 and a beta of 0.66. Chord Energy has a 52 week low of $84.25 and a 52 week high of $148.41. The company has a quick ratio of 0.98, a current ratio of 1.06 and a debt-to-equity ratio of 0.18. The stock’s fifty day moving average is $125.19 and its two-hundred day moving average is $104.49.

Chord Energy (NASDAQ:CHRD) last issued its quarterly earnings results on Wednesday, February 25th. The company reported $1.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.17 by $0.11. The business had revenue of $1.17 billion for the quarter, compared to analysts’ expectations of $1.03 billion. Chord Energy had a net margin of 0.91% and a return on equity of 6.71%. The business’s quarterly revenue was down 19.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.49 earnings per share. Research analysts anticipate that Chord Energy will post 15.74 EPS for the current year.

Insider Activity

In related news, CAO Lara J. Kroll sold 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 3rd. The shares were sold at an average price of $113.66, for a total value of $568,300.00. Following the sale, the chief accounting officer owned 8,921 shares of the company’s stock, valued at $1,013,960.86. This trade represents a 35.92% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Shannon Browning Kinney sold 1,801 shares of the firm’s stock in a transaction that occurred on Tuesday, March 3rd. The shares were sold at an average price of $114.36, for a total transaction of $205,962.36. Following the completion of the sale, the executive vice president directly owned 20,188 shares in the company, valued at approximately $2,308,699.68. This trade represents a 8.19% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 23,927 shares of company stock worth $2,912,028 in the last ninety days. 0.79% of the stock is owned by insiders.

Institutional Trading of Chord Energy

Hedge funds and other institutional investors have recently bought and sold shares of the business. WealthCollab LLC raised its stake in Chord Energy by 90.6% in the second quarter. WealthCollab LLC now owns 305 shares of the company’s stock valued at $30,000 after buying an additional 145 shares in the last quarter. Quent Capital LLC acquired a new stake in Chord Energy in the third quarter valued at $32,000. Pilgrim Partners Asia Pte Ltd acquired a new stake in Chord Energy in the third quarter valued at $46,000. Blue Trust Inc. raised its stake in Chord Energy by 22.2% in the first quarter. Blue Trust Inc. now owns 463 shares of the company’s stock valued at $66,000 after buying an additional 84 shares in the last quarter. Finally, Rockefeller Capital Management L.P. raised its stake in Chord Energy by 213.1% in the fourth quarter. Rockefeller Capital Management L.P. now owns 501 shares of the company’s stock valued at $47,000 after buying an additional 341 shares in the last quarter. 97.76% of the stock is currently owned by institutional investors and hedge funds.

About Chord Energy

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.