Chord Energy (NASDAQ:CHRD) Price Target Lowered to $170.00 at Truist Financial

Chord Energy (NASDAQ:CHRD - Get Free Report) had its price objective lowered by stock analysts at Truist Financial from $185.00 to $170.00 in a research report issued on Tuesday,Benzinga reports. The brokerage currently has a "buy" rating on the stock. Truist Financial's price objective would suggest a potential upside of 52.34% from the stock's current price.

A number of other equities research analysts have also weighed in on the company. Mizuho boosted their target price on Chord Energy from $164.00 to $175.00 and gave the company an "outperform" rating in a research note on Wednesday, May 27th. Zacks Research lowered Chord Energy from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, June 9th. Roth Mkm reaffirmed a "buy" rating and issued a $140.00 price target (up from $130.00) on shares of Chord Energy in a research note on Friday, April 17th. Piper Sandler boosted their price objective on Chord Energy from $158.00 to $190.00 and gave the company an "overweight" rating in a research report on Thursday, March 12th. Finally, Morgan Stanley dropped their price objective on Chord Energy from $175.00 to $169.00 and set an "overweight" rating for the company in a research note on Monday, June 29th. Eleven analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, Chord Energy presently has an average rating of "Moderate Buy" and an average target price of $155.92.

Chord Energy Price Performance

CHRD stock opened at $111.59 on Tuesday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.96 and a current ratio of 1.02. Chord Energy has a 52 week low of $84.25 and a 52 week high of $151.95. The firm's fifty day moving average is $133.61 and its 200 day moving average is $119.12. The firm has a market cap of $6.28 billion, a P/E ratio of 11.35 and a beta of 0.49.

Chord Energy (NASDAQ:CHRD - Get Free Report) last posted its quarterly earnings results on Tuesday, May 5th. The company reported $4.56 earnings per share for the quarter, topping the consensus estimate of $3.51 by $1.05. Chord Energy had a negative net margin of 1.25% and a positive return on equity of 7.06%. The business had revenue of $1.67 billion during the quarter, compared to the consensus estimate of $1.21 billion. During the same period in the previous year, the firm posted $4.04 earnings per share. The firm's revenue for the quarter was up 37.1% on a year-over-year basis. Research analysts predict that Chord Energy will post 19.13 earnings per share for the current year.

Insiders Place Their Bets

In related news, COO Darrin J. Henke sold 1,276 shares of Chord Energy stock in a transaction on Friday, May 15th. The shares were sold at an average price of $145.97, for a total value of $186,257.72. Following the sale, the chief operating officer owned 21,157 shares in the company, valued at $3,088,287.29. The trade was a 5.69% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Douglas E. Brooks sold 1,500 shares of the company's stock in a transaction on Monday, May 11th. The stock was sold at an average price of $138.57, for a total transaction of $207,855.00. Following the completion of the transaction, the director owned 18,705 shares of the company's stock, valued at $2,591,951.85. This trade represents a 7.42% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 9,276 shares of company stock valued at $1,285,968 in the last ninety days. 0.79% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in CHRD. Bessemer Group Inc. boosted its position in shares of Chord Energy by 63.8% during the first quarter. Bessemer Group Inc. now owns 190 shares of the company's stock valued at $27,000 after purchasing an additional 74 shares in the last quarter. Versant Capital Management Inc grew its position in shares of Chord Energy by 330.9% in the 2nd quarter. Versant Capital Management Inc now owns 237 shares of the company's stock worth $27,000 after buying an additional 182 shares during the period. V Square Quantitative Management LLC purchased a new stake in shares of Chord Energy in the 1st quarter worth about $29,000. WealthCollab LLC increased its stake in shares of Chord Energy by 90.6% in the 2nd quarter. WealthCollab LLC now owns 305 shares of the company's stock worth $30,000 after acquiring an additional 145 shares in the last quarter. Finally, Root Financial Partners LLC lifted its position in Chord Energy by 178.6% during the 1st quarter. Root Financial Partners LLC now owns 234 shares of the company's stock valued at $33,000 after acquiring an additional 150 shares during the period. Hedge funds and other institutional investors own 97.76% of the company's stock.

About Chord Energy

Chord Energy Corporation NASDAQ: CHRD, formerly known as Oasis Petroleum Inc, is an independent exploration and production company focused on the acquisition, development and production of crude oil, natural gas and natural gas liquids. Headquartered in Houston, Texas, Chord Energy emerged from financial restructuring in early 2021 and rebranded in October 2022 to reflect its renewed strategic vision.

The company’s core operations are concentrated in two prolific U.S. resource plays: the Williston Basin across North Dakota and Montana, and the Delaware Basin spanning parts of West Texas and southeastern New Mexico.

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