Chord Energy (NASDAQ:CHRD) Price Target Lowered to $185.00 at Truist Financial

Key Points

• Truist Financial lowered its price target to $185 (from $187) while keeping a "buy" rating on Chord Energy, implying roughly a 34.65% upside from the stock's current level.
• Chord Energy posted a strong quarter, reporting EPS of $4.56 (vs. $3.51 est.) and revenue of $1.67 billion (vs. $1.21 billion est.), with revenue up 37.1% year‑over‑year.
• Analysts' consensus is a "Moderate Buy" with an average price target of $156.15, institutional investors own 97.76% of shares, but insiders have sold about 23,927 shares in the last 90 days.

Chord Energy (NASDAQ:CHRD - Get Free Report) had its target price lowered by stock analysts at Truist Financial from $187.00 to $185.00 in a research report issued on Friday,Benzinga reports. The firm currently has a "buy" rating on the stock. Truist Financial's price target indicates a potential upside of 34.65% from the company's current price.

Several other brokerages also recently issued reports on CHRD. Citigroup increased their price objective on Chord Energy from $120.00 to $155.00 and gave the stock a "neutral" rating in a research note on Tuesday, March 31st. Piper Sandler upped their target price on Chord Energy from $158.00 to $190.00 and gave the company an "overweight" rating in a report on Thursday, March 12th. Weiss Ratings raised shares of Chord Energy from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Tuesday, March 17th. UBS Group boosted their price objective on shares of Chord Energy from $176.00 to $179.00 and gave the company a "buy" rating in a research report on Thursday. Finally, Jefferies Financial Group set a $99.00 price objective on shares of Chord Energy in a research note on Saturday, January 17th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, Chord Energy presently has an average rating of "Moderate Buy" and an average price target of $156.15.

Chord Energy Trading Down 0.3%

Shares of CHRD traded down $0.36 during midday trading on Friday, hitting $137.39. The stock had a trading volume of 222,591 shares, compared to its average volume of 982,296. Chord Energy has a fifty-two week low of $84.25 and a fifty-two week high of $150.50. The business has a 50-day simple moving average of $131.32 and a two-hundred day simple moving average of $107.34. The company has a current ratio of 1.02, a quick ratio of 0.98 and a debt-to-equity ratio of 0.18. The firm has a market cap of $7.79 billion, a P/E ratio of -121.61 and a beta of 0.52.

Chord Energy (NASDAQ:CHRD - Get Free Report) last posted its quarterly earnings data on Tuesday, May 5th. The company reported $4.56 EPS for the quarter, topping analysts' consensus estimates 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 firm had revenue of $1.67 billion during the quarter, compared to analyst estimates of $1.21 billion. During the same quarter last year, the business posted $4.04 EPS. The company's revenue was up 37.1% on a year-over-year basis. As a group, equities analysts forecast that Chord Energy will post 16.94 EPS for the current year.

Insider Transactions at Chord Energy

In related news, EVP Shannon Browning Kinney sold 1,801 shares of the business's stock in a transaction that occurred on Tuesday, March 3rd. The stock was sold at an average price of $114.36, for a total value of $205,962.36. Following the completion of the sale, the executive vice president owned 20,188 shares of the company's stock, valued at approximately $2,308,699.68. The trade was a 8.19% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CAO Lara J. Kroll sold 5,000 shares of the stock in a transaction that occurred on Tuesday, March 3rd. The stock was sold at an average price of $113.66, for a total value of $568,300.00. Following the completion of the transaction, the chief accounting officer owned 8,921 shares in the company, valued at $1,013,960.86. This represents a 35.92% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 23,927 shares of company stock worth $2,912,028. 0.79% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. PNC Financial Services Group Inc. boosted its holdings in Chord Energy by 19.7% in the first quarter. PNC Financial Services Group Inc. now owns 4,349 shares of the company's stock worth $618,000 after purchasing an additional 715 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Chord Energy by 27.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,547,732 shares of the company's stock valued at $220,078,000 after acquiring an additional 329,565 shares in the last quarter. Parallel Advisors LLC raised its stake in shares of Chord Energy by 13.8% in the 1st quarter. Parallel Advisors LLC now owns 2,035 shares of the company's stock valued at $289,000 after acquiring an additional 246 shares in the last quarter. Jennison Associates LLC acquired a new stake in Chord Energy in the 1st quarter worth approximately $60,190,000. Finally, California Public Employees Retirement System boosted its position in Chord Energy by 5.5% during the first quarter. California Public Employees Retirement System now owns 111,513 shares of the company's stock worth $15,855,000 after purchasing an additional 5,807 shares during the period. Institutional investors own 97.76% of the company's stock.

Chord Energy Company Profile

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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