Wolfe Research Upgrades Chord Energy (NASDAQ:CHRD) to Outperform

Chord Energy (NASDAQ:CHRD) was upgraded by equities research analysts at Wolfe Research from a “peer perform” rating to an “outperform” rating in a report issued on Friday,Briefing.com Automated Import reports. The brokerage currently has a $155.00 price objective on the stock. Wolfe Research’s price target indicates a potential upside of 30.37% from the stock’s previous close.

Other equities analysts have also issued research reports about the company. BMO Capital Markets lowered their target price on Chord Energy from $205.00 to $175.00 and set an “outperform” rating on the stock in a research note on Friday, October 4th. UBS Group decreased their price objective on Chord Energy from $168.00 to $161.00 and set a “buy” rating on the stock in a report on Monday, December 9th. Wells Fargo & Company lifted their target price on Chord Energy from $175.00 to $176.00 and gave the stock an “overweight” rating in a report on Tuesday, December 17th. Piper Sandler decreased their price target on shares of Chord Energy from $212.00 to $194.00 and set an “overweight” rating on the stock in a research note on Tuesday, December 17th. Finally, Jefferies Financial Group began coverage on shares of Chord Energy in a research report on Thursday, September 5th. They set a “hold” rating and a $160.00 price target on the stock. One investment analyst has rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $180.25.

Chord Energy Stock Up 1.7 %

CHRD opened at $118.89 on Friday. The company has a current ratio of 0.93, a quick ratio of 0.89 and a debt-to-equity ratio of 0.10. The stock’s fifty day simple moving average is $123.02 and its 200 day simple moving average is $141.15. Chord Energy has a 1-year low of $109.59 and a 1-year high of $190.23. The stock has a market cap of $7.27 billion, a PE ratio of 6.12, a price-to-earnings-growth ratio of 4.79 and a beta of 0.96.

Chord Energy (NASDAQ:CHRD) last posted its earnings results on Wednesday, November 6th. The company reported $3.40 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.63 by ($0.23). Chord Energy had a return on equity of 12.88% and a net margin of 19.74%. The company had revenue of $1.12 billion for the quarter, compared to analyst estimates of $1.26 billion. During the same quarter in the prior year, the business posted $5.04 EPS. The business’s quarterly revenue was up 33.4% compared to the same quarter last year. As a group, research analysts expect that Chord Energy will post 16.5 earnings per share for the current year.

Insider Buying and Selling at Chord Energy

In other news, CAO Shannon Browning Kinney sold 1,000 shares of the company’s stock in a transaction on Monday, December 9th. The shares were sold at an average price of $121.27, for a total transaction of $121,270.00. Following the completion of the transaction, the chief accounting officer now directly owns 20,488 shares in the company, valued at approximately $2,484,579.76. This represents a 4.65 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.70% of the company’s stock.

Hedge Funds Weigh In On Chord Energy

A number of institutional investors and hedge funds have recently bought and sold shares of CHRD. Victory Capital Management Inc. boosted its stake in shares of Chord Energy by 41.3% during the third quarter. Victory Capital Management Inc. now owns 2,245,435 shares of the company’s stock valued at $292,423,000 after purchasing an additional 656,374 shares in the last quarter. Geode Capital Management LLC raised its holdings in Chord Energy by 3.0% in the 3rd quarter. Geode Capital Management LLC now owns 1,162,442 shares of the company’s stock valued at $151,077,000 after buying an additional 34,156 shares during the last quarter. Bank of Montreal Can boosted its position in Chord Energy by 956.5% during the 2nd quarter. Bank of Montreal Can now owns 58,359 shares of the company’s stock worth $9,873,000 after buying an additional 52,835 shares during the period. Foundry Partners LLC increased its position in Chord Energy by 22.7% in the 3rd quarter. Foundry Partners LLC now owns 52,009 shares of the company’s stock valued at $6,773,000 after acquiring an additional 9,613 shares during the period. Finally, Caxton Associates LP bought a new position in shares of Chord Energy during the second quarter valued at $2,515,000. Institutional investors and hedge funds own 97.76% of the company’s stock.

About Chord Energy

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.