Chord Energy (NASDAQ:CHRD) Given New $197.00 Price Target at UBS Group

Key Points

• UBS Group raised its price target for Chord Energy from $193 to $197 and maintained a “buy” rating, implying 27.52% potential upside from the current price.
• Analyst sentiment remains positive, with a consensus “Moderate Buy” rating and an average price target of $174.54; 13 of 17 analysts rate the stock Buy or Strong Buy.
• Chord Energy reported $2.17 billion in quarterly revenue, up 128.6% year over year, but earnings of $6.44 per share fell short of the $6.55 consensus estimate. Insiders sold approximately $3.39 million of shares over the past three months.

Chord Energy (NASDAQ:CHRD - Get Free Report) had its price objective increased by analysts at UBS Group from $193.00 to $197.00 in a research note issued on Tuesday, Benzinga reports. The brokerage currently has a "buy" rating on the stock. UBS Group's price target would suggest a potential upside of 27.52% from the stock's current price.

CHRD has been the subject of a number of other research reports. Truist Financial raised their price target on shares of Chord Energy from $180.00 to $195.00 and gave the stock a "buy" rating in a report on Monday, October 12th. Stifel Nicolaus began coverage on Chord Energy in a report on Thursday, September 10th. They issued a "buy" rating and a $182.00 price objective on the stock. Zacks Research upgraded Chord Energy from a "strong sell" rating to a "hold" rating in a research report on Wednesday, September 9th. Mizuho increased their price objective on Chord Energy from $175.00 to $179.00 and gave the stock an "outperform" rating in a research report on Monday, October 5th. Finally, Jefferies Financial Group raised their target price on Chord Energy from $133.00 to $150.00 and gave the stock a "hold" rating in a research note on Friday, September 18th. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and four have given a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $174.54.

Chord Energy Trading Down 0.1%

Shares of CHRD opened at $154.48 on Tuesday. The company has a current ratio of 1.22, a quick ratio of 1.15 and a debt-to-equity ratio of 0.18. Chord Energy has a 12-month low of $84.25 and a 12-month high of $157.06. The firm has a 50-day moving average price of $143.81 and a 200 day moving average price of $136.76. The firm has a market capitalization of $8.45 billion, a P/E ratio of 10.35 and a beta of 0.59.

Chord Energy (NASDAQ:CHRD - Get Free Report) last released its quarterly earnings data on Wednesday, August 5th. The company reported $6.44 earnings per share (EPS) for the quarter, missing the consensus estimate of $6.55 by ($0.11). Chord Energy had a return on equity of 10.18% and a net margin of 13.42%. The firm had revenue of $2.17 billion for the quarter, compared to analyst estimates of $1.62 billion. During the same quarter in the previous year, the business posted $1.79 earnings per share. Chord Energy's revenue for the quarter was up 128.6% on a year-over-year basis. Sell-side analysts forecast that Chord Energy will post 21.12 EPS for the current year.

Insider Buying and Selling at Chord Energy

In other news, Director Samantha Mckinney sold 9,750 shares of the business's stock in a transaction that occurred on Tuesday, September 1st. The shares were sold at an average price of $149.94, for a total value of $1,461,915.00. Following the sale, the director directly owned 7,280 shares of the company's stock, valued at approximately $1,091,563.20. The trade was a 57.25% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Douglas Brooks sold 8,000 shares of the business's stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $133.14, for a total transaction of $1,065,120.00. Following the completion of the sale, the director directly owned 10,705 shares in the company, valued at $1,425,263.70. This trade represents a 42.77% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 23,969 shares of company stock worth $3,389,599 over the last three months. Insiders own 0.79% of the company's stock.

Institutional Trading of Chord Energy

Several institutional investors have recently added to or reduced their stakes in the stock. Bessemer Group Inc. raised its holdings in Chord Energy by 63.8% in the 1st quarter. Bessemer Group Inc. now owns 190 shares of the company's stock valued at $27,000 after acquiring an additional 74 shares during the last quarter. Blue Trust Inc. lifted its stake in shares of Chord Energy by 22.2% during the 1st quarter. Blue Trust Inc. now owns 463 shares of the company's stock worth $66,000 after purchasing an additional 84 shares during the period. Concurrent Investment Advisors LLC lifted its stake in shares of Chord Energy by 3.6% during the 2nd quarter. Concurrent Investment Advisors LLC now owns 3,514 shares of the company's stock worth $402,000 after purchasing an additional 121 shares during the period. Root Financial Partners LLC boosted its holdings in shares of Chord Energy by 178.6% during the first quarter. Root Financial Partners LLC now owns 234 shares of the company's stock worth $33,000 after purchasing an additional 150 shares during the last quarter. Finally, Allworth Financial LP boosted its holdings in shares of Chord Energy by 16.6% during the second quarter. Allworth Financial LP now owns 1,189 shares of the company's stock worth $136,000 after purchasing an additional 169 shares during the last quarter. Institutional investors and hedge funds own 97.76% of the company's stock.

Chord Energy Company Profile

Chord Energy Corporation is an independent exploration and production company focused on the development and operation of oil and natural gas properties in the United States. Its portfolio is concentrated in the Williston Basin, which spans parts of North Dakota and Montana. The company's production mix includes crude oil, natural gas and natural gas liquids.

Chord's operations include acquiring, developing and producing hydrocarbons from operated and non-operated wells, with an emphasis on drilling and completion activities in the Bakken and Three Forks formations.

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