Chord Energy (NASDAQ:CHRD) Stock Rating Raised to Strong-Buy at Zacks Research

Key Points

• Zacks Research upgraded Chord Energy to “strong buy” from “hold,” while the broader analyst consensus remains “moderate buy” with an average price target of $174.54.
• Chord Energy shares opened at $150.85, near their 52-week high of $157.06, with a market capitalization of approximately $8.25 billion and a price-to-earnings ratio of 10.11.
• The company reported strong quarterly revenue growth of 128.6% year over year to $2.17 billion, though earnings per share of $6.44 slightly missed estimates; insiders have sold nearly $3.4 million of stock over the past 90 days.

Chord Energy (NASDAQ:CHRD - Get Free Report) was upgraded by stock analysts at Zacks Research from a "hold" rating to a "strong-buy" rating in a note issued to investors on Tuesday, Zacks reports.

CHRD has been the subject of several other reports. Citigroup lifted their target price on shares of Chord Energy from $130.00 to $150.00 and gave the stock a "neutral" rating in a report on Thursday, September 17th. Weiss Ratings upgraded shares of Chord Energy from a "hold (c+)" rating to a "buy (b-)" rating in a report on Thursday, October 8th. Stifel Nicolaus initiated coverage on shares of Chord Energy in a report on Thursday, September 10th. They set a "buy" rating and a $182.00 price target on the stock. Morgan Stanley raised their price target on shares of Chord Energy from $169.00 to $178.00 and gave the company an "overweight" rating in a research report on Thursday, October 15th. Finally, Wall Street Zen raised shares of Chord Energy from a "buy" rating to a "strong-buy" rating in a research report on Saturday, October 10th. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $174.54.

Chord Energy Price Performance

Shares of NASDAQ:CHRD opened at $150.85 on Tuesday. The business has a fifty day moving average price of $144.33 and a 200-day moving average price of $136.93. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.22 and a quick ratio of 1.15. The company has a market capitalization of $8.25 billion, a PE ratio of 10.11 and a beta of 0.59. Chord Energy has a 1-year low of $84.25 and a 1-year high of $157.06.

Chord Energy (NASDAQ:CHRD - Get Free Report) last announced its quarterly earnings results on Wednesday, August 5th. The company reported $6.44 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 during the quarter, compared to the consensus estimate of $1.62 billion. During the same quarter in the previous year, the firm earned $1.79 EPS. The business's revenue for the quarter was up 128.6% on a year-over-year basis. As a group, equities analysts expect that Chord Energy will post 22.27 EPS for the current fiscal year.

Insider Buying and Selling

In other Chord Energy news, Director Douglas E. Brooks sold 8,000 shares of the business's stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $133.14, for a total value of $1,065,120.00. Following the completion of the transaction, the director owned 10,705 shares of the company's stock, valued at approximately $1,425,263.70. The trade was a 42.77% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Samantha Mckinney sold 9,750 shares of the company's stock in a transaction dated Tuesday, September 1st. The shares were sold at an average price of $149.94, for a total transaction of $1,461,915.00. Following the transaction, the director owned 7,280 shares in the company, valued at $1,091,563.20. This represents a 57.25% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 23,969 shares of company stock worth $3,389,599. 0.79% of the stock is owned by corporate insiders.

Institutional Trading of Chord Energy

A number of institutional investors have recently made changes to their positions in the stock. Root Financial Partners LLC purchased a new position in shares of Chord Energy during the third quarter valued at approximately $56,000. Crossmark Global Holdings Inc. lifted its position in Chord Energy by 15.1% during the third quarter. Crossmark Global Holdings Inc. now owns 13,745 shares of the company's stock valued at $1,843,000 after purchasing an additional 1,801 shares during the period. Wavvest Wealth LLC purchased a new stake in Chord Energy in the third quarter worth approximately $507,000. Sowell Financial Services LLC purchased a new stake in Chord Energy in the third quarter worth approximately $208,000. Finally, Quadrant Capital Group LLC boosted its holdings in Chord Energy by 8.6% in the third quarter. Quadrant Capital Group LLC now owns 4,708 shares of the company's stock worth $690,000 after purchasing an additional 374 shares during the last quarter. Hedge funds and other institutional investors own 97.76% of the company's stock.

Chord Energy News Roundup

Here are the key news stories impacting Chord Energy this week:

• Positive Sentiment: UBS raised its price target to $197 from $193 and maintained a Buy rating, implying substantial potential upside based on the referenced market price. The target increase is a direct positive catalyst for CHRD. Chord Energy price target raised by UBS
• Positive Sentiment: Zacks cited favorable earnings-estimate revisions as evidence that Chord Energy may continue its recent upward momentum, potentially improving expectations ahead of its next results. Why Chord Energy Might Be Well Poised for a Surge
• Positive Sentiment: CHRD was added to several Zacks Rank #1 Strong Buy lists on October 21, including growth, value, income and momentum screens. The repeated inclusion highlights favorable quantitative characteristics across multiple investment styles. New Strong Buy Stocks for October 21
• Neutral Sentiment: Commentary also describes Chord Energy as a growth, value and momentum candidate, while a separate article discusses whether the company is undervalued under new CEO Michael Lou. These are supportive themes but largely reiterate existing investment factors rather than announce new operating developments. Is Chord Energy Undervalued as New CEO Takes Charge?
• Neutral Sentiment: Investors are approaching an earnings catalyst. Chord Energy’s prior quarter included strong revenue growth but a slight EPS miss, so future results and guidance could determine whether the recent bullish estimates are validated. Strong Buy Growth Stocks Before Earnings

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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