UBS Group Forecasts Strong Price Appreciation for Chord Energy (NASDAQ:CHRD) Stock

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 raised by investment analysts at UBS Group from $122.00 to $130.00 in a research report issued on Tuesday, MarketBeat Ratings reports. The brokerage presently has a "buy" rating on the stock. UBS Group's price objective would suggest a potential upside of 29.52% from the stock's current price.

Other equities analysts have also recently issued research reports about the stock. Mizuho decreased their price objective on shares of Chord Energy from $152.00 to $142.00 and set an "outperform" rating on the stock in a research report on Monday, September 15th. Piper Sandler boosted their price objective on shares of Chord Energy from $164.00 to $166.00 and gave the company an "overweight" rating in a research report on Thursday, August 14th. Wells Fargo & Company boosted their price objective on shares of Chord Energy from $143.00 to $146.00 and gave the company an "overweight" rating in a research report on Friday, August 15th. Citigroup boosted their price objective on shares of Chord Energy from $120.00 to $125.00 and gave the company a "buy" rating in a research report on Wednesday, July 9th. Finally, Wall Street Zen cut shares of Chord Energy from a "hold" rating to a "sell" rating in a research report on Friday, July 18th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, Chord Energy has a consensus rating of "Moderate Buy" and an average price target of $147.15.

Chord Energy Trading Down 3.8%

NASDAQ:CHRD traded down $3.96 during trading hours on Tuesday, reaching $100.37. The company's stock had a trading volume of 1,768,186 shares, compared to its average volume of 838,097. The firm has a 50-day simple moving average of $105.59 and a 200-day simple moving average of $101.03. Chord Energy has a 1 year low of $79.83 and a 1 year high of $140.15. The firm has a market capitalization of $5.75 billion, a price-to-earnings ratio of 25.54 and a beta of 0.97. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.90 and a current ratio of 0.97.

Chord Energy (NASDAQ:CHRD - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The company reported $1.79 earnings per share (EPS) 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 firm had revenue of $1.18 billion during the quarter, compared to analysts' expectations of $984.07 million. During the same quarter in the previous year, the firm posted $4.69 EPS. Chord Energy's revenue was up 5.3% compared to the same quarter last year. Research analysts expect that Chord Energy will post 15.59 EPS for the current fiscal year.

Insider Buying and Selling

In related news, EVP Shannon Browning Kinney sold 3,019 shares of the business's stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $105.43, for a total transaction of $318,293.17. Following the sale, the executive vice president owned 14,650 shares of the company's stock, valued at $1,544,549.50. The trade was a 17.09% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.70% of the stock is owned by insiders.

Institutional Investors Weigh In On Chord Energy

Hedge funds have recently bought and sold shares of the business. Bayforest Capital Ltd bought a new stake in Chord Energy during the second quarter worth about $28,000. WealthCollab LLC boosted its stake in Chord Energy by 90.6% during the second 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. Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in Chord Energy by 91.2% during the second quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 411 shares of the company's stock worth $40,000 after acquiring an additional 196 shares in the last quarter. Hexagon Capital Partners LLC boosted its stake in Chord Energy by 321.7% during the first quarter. Hexagon Capital Partners LLC now owns 447 shares of the company's stock worth $50,000 after acquiring an additional 341 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd boosted its stake 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 worth $61,000 after acquiring an additional 529 shares in the last quarter. Institutional investors 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.