Chord Energy (NASDAQ:CHRD) Price Target Raised to $130.00 at UBS Group

Key Points

• Analysts at UBS Group raised the price target for Chord Energy from $122.00 to $130.00, indicating a potential upside of 27.06% from the current stock price.
• The company reported a net margin of 5.02% and revenue of $1.18 billion for the last quarter, surpassing analysts' expectations.
• Institutional investors own 97.76% of Chord Energy's stock, reflecting strong support and confidence from large holders.

Chord Energy (NASDAQ:CHRD - Get Free Report) had its target price lifted by analysts at UBS Group from $122.00 to $130.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm presently has a "buy" rating on the stock. UBS Group's target price indicates a potential upside of 27.06% from the stock's current price.

Other equities analysts also recently issued reports about the stock. Piper Sandler raised their price objective on shares of Chord Energy from $164.00 to $166.00 and gave the stock an "overweight" rating in a report on Thursday, August 14th. Mizuho reduced their price objective on shares of Chord Energy from $152.00 to $142.00 and set an "outperform" rating for the company in a report on Monday. Wall Street Zen downgraded shares of Chord Energy from a "hold" rating to a "sell" rating in a report on Friday, July 18th. Bank of America dropped their target price on shares of Chord Energy from $114.00 to $112.00 and set a "buy" rating for the company in a research report on Friday, May 23rd. Finally, Wells Fargo & Company increased their target price on shares of Chord Energy from $143.00 to $146.00 and gave the stock an "overweight" rating in a research report on Friday, August 15th. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Chord Energy has an average rating of "Moderate Buy" and a consensus target price of $148.00.

Chord Energy Price Performance

Shares of Chord Energy stock opened at $102.31 on Tuesday. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.97 and a quick ratio of 0.90. Chord Energy has a fifty-two week low of $79.83 and a fifty-two week high of $140.15. The firm has a fifty day moving average price of $105.91 and a two-hundred day moving average price of $101.00. The company has a market cap of $5.86 billion, a PE ratio of 26.03 and a beta of 0.97.

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

Insider Activity

In other 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 value of $318,293.17. Following the sale, the executive vice president directly owned 14,650 shares in the company, valued at $1,544,549.50. This trade represents a 17.09% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.70% of the stock is owned by company insiders.

Hedge Funds Weigh In On Chord Energy

A number of institutional investors have recently added to or reduced their stakes in the company. AQR Capital Management LLC increased its holdings in shares of Chord Energy by 59.8% in the first quarter. AQR Capital Management LLC now owns 236,436 shares of the company's stock valued at $26,651,000 after purchasing an additional 88,490 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its position in Chord Energy by 6.4% during the first quarter. Allspring Global Investments Holdings LLC now owns 791,958 shares of the company's stock worth $89,198,000 after purchasing an additional 47,649 shares during the period. Hsbc Holdings PLC lifted its position in Chord Energy by 364.2% during the first quarter. Hsbc Holdings PLC now owns 35,795 shares of the company's stock worth $4,055,000 after purchasing an additional 28,084 shares during the period. Aurora Investment Counsel bought a new stake in Chord Energy during the first quarter worth about $1,940,000. Finally, New York State Teachers Retirement System lifted its position in Chord Energy by 8.4% during the first quarter. New York State Teachers Retirement System now owns 29,190 shares of the company's stock worth $3,290,000 after purchasing an additional 2,263 shares during the period. 97.76% of the stock is currently owned by institutional investors and hedge funds.

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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