Chord Energy (NASDAQ:CHRD) Downgraded to Sell Rating by Wall Street Zen

Chord Energy (NASDAQ:CHRD - Get Free Report) was downgraded by stock analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a report issued on Friday.

Other equities research analysts have also recently issued research reports about the company. Bank of America cut their target price on Chord Energy from $114.00 to $112.00 and set a "buy" rating for the company in a research note on Friday, May 23rd. Wells Fargo & Company boosted their price objective on shares of Chord Energy from $142.00 to $143.00 and gave the company an "overweight" rating in a report on Tuesday. Morgan Stanley set a $139.00 target price on shares of Chord Energy and gave the company a "cautious" rating in a research report on Wednesday, March 26th. Piper Sandler lifted their price target on shares of Chord Energy from $159.00 to $164.00 and gave the company an "overweight" rating in a research report on Thursday. Finally, Citigroup upped their price objective on shares of Chord Energy from $120.00 to $125.00 and gave the stock a "buy" rating in a report on Wednesday, July 9th. Two research analysts have rated the stock with a sell rating, one has issued a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $151.54.

Chord Energy Trading Up 0.4%

Shares of CHRD opened at $106.40 on Friday. The company has a current ratio of 0.89, a quick ratio of 0.83 and a debt-to-equity ratio of 0.09. Chord Energy has a 12-month low of $79.83 and a 12-month high of $177.28. The firm has a 50-day moving average price of $99.30 and a 200 day moving average price of $104.37. The firm has a market capitalization of $6.15 billion, a P/E ratio of 7.12 and a beta of 0.96.

Chord Energy (NASDAQ:CHRD - Get Free Report) last posted its earnings results on Tuesday, May 6th. The company reported $4.04 earnings per share for the quarter, beating the consensus estimate of $3.60 by $0.44. The company had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.07 billion. Chord Energy had a net margin of 16.15% and a return on equity of 10.34%. Chord Energy's revenue was up 12.0% on a year-over-year basis. During the same period in the previous year, the business posted $5.10 EPS. Sell-side analysts forecast that Chord Energy will post 15.59 EPS for the current year.

Insider Transactions at Chord Energy

In other news, EVP Shannon Browning Kinney sold 3,091 shares of the business's stock in a transaction dated Thursday, May 8th. The stock was sold at an average price of $94.10, for a total transaction of $290,863.10. Following the completion of the transaction, the executive vice president directly owned 21,277 shares of the company's stock, valued at approximately $2,002,165.70. The trade was a 12.68% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.70% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in CHRD. Founders Capital Management increased its holdings in shares of Chord Energy by 7,000.0% in the 2nd quarter. Founders Capital Management now owns 1,775 shares of the company's stock valued at $172,000 after acquiring an additional 1,750 shares during the last quarter. Lynx Investment Advisory boosted its holdings in Chord Energy by 3.6% in the second quarter. Lynx Investment Advisory now owns 2,847 shares of the company's stock valued at $276,000 after purchasing an additional 99 shares in the last quarter. Truist Financial Corp increased its stake in Chord Energy by 18.4% in the second quarter. Truist Financial Corp now owns 11,038 shares of the company's stock valued at $1,069,000 after purchasing an additional 1,716 shares during the last quarter. Janney Montgomery Scott LLC raised its holdings in Chord Energy by 6.5% during the second quarter. Janney Montgomery Scott LLC now owns 12,142 shares of the company's stock worth $1,176,000 after purchasing an additional 738 shares in the last quarter. Finally, Signaturefd LLC lifted its position in shares of Chord Energy by 36.8% during the 2nd quarter. Signaturefd LLC now owns 6,411 shares of the company's stock worth $621,000 after buying an additional 1,723 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 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.

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