Mizuho Has Lowered Expectations for Chord Energy (NASDAQ:CHRD) Stock Price

Key Points

• Mizuho has lowered its price target for Chord Energy from $152.00 to $142.00, while maintaining an "outperform" rating, suggesting a potential upside of 38.88% from the stock's previous close.
• Despite Mizuho's downgrade, analysts have varied opinions, with one rating it as a Strong Buy, ten as Buy, and one as Sell; the average consensus target price is $147.33.
• Chord Energy's most recent earnings report showed a net revenue increase of 5.3% year-over-year, although it missed earnings estimates by $0.09 per share.

Chord Energy (NASDAQ:CHRD - Get Free Report) had its price target decreased by analysts at Mizuho from $152.00 to $142.00 in a research note issued on Monday,Benzinga reports. The brokerage currently has an "outperform" rating on the stock. Mizuho's price target points to a potential upside of 41.48% from the company's previous close.

Other analysts have also recently issued research reports about the stock. Wells Fargo & Company increased their price objective on shares of Chord Energy from $143.00 to $146.00 and gave the stock an "overweight" rating in a report on Friday, August 15th. Bank of America dropped their price target on shares of Chord Energy from $114.00 to $112.00 and set a "buy" rating on the stock in a research note on Friday, May 23rd. Wall Street Zen lowered shares of Chord Energy from a "hold" rating to a "sell" rating in a research note on Friday, July 18th. Citigroup raised their target price on Chord Energy from $120.00 to $125.00 and gave the company a "buy" rating in a research report on Wednesday, July 9th. Finally, Piper Sandler raised their target price on Chord Energy from $164.00 to $166.00 and gave the company an "overweight" rating in a research report on Thursday, August 14th. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Chord Energy has an average rating of "Moderate Buy" and an average price target of $147.15.

Chord Energy Stock Performance

Shares of Chord Energy stock traded down $3.96 on Monday, reaching $100.37. 1,768,186 shares of the company were exchanged, compared to its average volume of 852,506. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.90 and a current ratio of 0.97. The company's 50-day moving average is $105.77 and its two-hundred day moving average is $101.06. The firm has a market cap of $5.75 billion, a price-to-earnings ratio of 25.54 and a beta of 0.97. Chord Energy has a 1-year low of $79.83 and a 1-year high of $140.15.

Chord Energy (NASDAQ:CHRD - Get Free Report) last issued its earnings results on Wednesday, August 6th. The company reported $1.79 earnings per share for the quarter, missing the consensus estimate of $1.88 by ($0.09). Chord Energy had a return on equity of 9.02% and a net margin of 5.02%.The company had revenue of $1.18 billion during the quarter, compared to analyst estimates of $984.07 million. During the same period in the prior year, the business earned $4.69 earnings per share. Chord Energy's quarterly revenue was up 5.3% on a year-over-year basis. As a group, research analysts expect that Chord Energy will post 15.59 earnings per share for the current fiscal year.

Insider Buying and Selling at Chord Energy

In other Chord Energy news, EVP Shannon Browning Kinney sold 3,019 shares of Chord Energy stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $105.43, for a total transaction of $318,293.17. Following the transaction, the executive vice president directly owned 14,650 shares in the company, valued at approximately $1,544,549.50. The trade was a 17.09% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.70% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Bayforest Capital Ltd purchased a new position in shares of Chord Energy during the second quarter valued at $28,000. WealthCollab LLC grew its stake in Chord Energy by 90.6% during the 2nd quarter. WealthCollab LLC now owns 305 shares of the company's stock valued at $30,000 after acquiring an additional 145 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in Chord Energy by 91.2% during the 2nd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 411 shares of the company's stock valued at $40,000 after acquiring an additional 196 shares in the last quarter. Hexagon Capital Partners LLC grew its position in Chord Energy by 321.7% during the first quarter. Hexagon Capital Partners LLC now owns 447 shares of the company's stock valued at $50,000 after purchasing an additional 341 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd grew its position in Chord Energy by 5,877.8% during the first quarter. Caitong International Asset Management Co. Ltd now owns 538 shares of the company's stock valued at $61,000 after purchasing an additional 529 shares in the last quarter. Hedge funds and other institutional investors 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.