Wells Fargo & Company Raises Chord Energy (NASDAQ:CHRD) Price Target to $143.00

Chord Energy (NASDAQ:CHRD - Get Free Report) had its target price raised by investment analysts at Wells Fargo & Company from $142.00 to $143.00 in a research report issued on Tuesday,Benzinga reports. The firm presently has an "overweight" rating on the stock. Wells Fargo & Company's price target points to a potential upside of 34.40% from the stock's current price.

CHRD has been the subject of several other reports. Morgan Stanley set a $139.00 target price on Chord Energy and gave the stock a "cautious" rating in a research note on Wednesday, March 26th. Piper Sandler reduced their target price on Chord Energy from $161.00 to $159.00 and set an "overweight" rating for the company in a research note on Tuesday, July 1st. Wall Street Zen upgraded Chord Energy from a "sell" rating to a "hold" rating in a research note on Friday, June 27th. Mizuho reduced their price target on Chord Energy from $154.00 to $150.00 and set an "outperform" rating for the company in a research note on Tuesday, May 13th. Finally, Bank of America reduced their price target on Chord Energy from $114.00 to $112.00 and set a "buy" rating for the company in a research note on Friday, May 23rd. One analyst has rated the stock with a sell rating, two have issued a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, Chord Energy presently has an average rating of "Moderate Buy" and an average target price of $151.54.

Chord Energy Stock Up 0.4%

CHRD stock traded up $0.43 during mid-day trading on Tuesday, reaching $106.40. The company had a trading volume of 510,334 shares, compared to its average volume of 853,228. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.89 and a quick ratio of 0.83. The stock has a 50 day simple moving average of $99.03 and a two-hundred day simple moving average of $104.44. The company has a market capitalization of $6.15 billion, a price-to-earnings ratio of 7.12 and a beta of 0.96. Chord Energy has a 52 week low of $79.83 and a 52 week high of $177.95.

Chord Energy (NASDAQ:CHRD - Get Free Report) last issued its earnings results on Tuesday, May 6th. The company reported $4.04 EPS for the quarter, topping the consensus estimate of $3.60 by $0.44. Chord Energy had a return on equity of 10.34% and a net margin of 16.15%. The company had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $1.07 billion. During the same period in the previous year, the company posted $5.10 EPS. The firm's revenue for the quarter was up 12.0% compared to the same quarter last year. As a group, equities analysts predict that Chord Energy will post 15.59 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Chord Energy news, EVP Shannon Browning Kinney sold 3,091 shares of Chord Energy stock in a transaction on Thursday, May 8th. The stock was sold at an average price of $94.10, for a total value of $290,863.10. Following the completion of the transaction, the executive vice president directly owned 21,277 shares of the company's stock, valued at $2,002,165.70. The trade was a 12.68% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.70% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Chord Energy

A number of institutional investors have recently modified their holdings of CHRD. Altshuler Shaham Ltd acquired a new position in shares of Chord Energy during the 4th quarter worth $25,000. Twin Tree Management LP acquired a new position in shares of Chord Energy during the 4th quarter worth $33,000. Hexagon Capital Partners LLC raised its holdings in shares of Chord Energy by 321.7% during the 1st quarter. Hexagon Capital Partners LLC now owns 447 shares of the company's stock worth $50,000 after buying an additional 341 shares in the last quarter. Caitong International Asset Management Co. Ltd raised its holdings in shares of Chord Energy by 5,877.8% during the 1st quarter. Caitong International Asset Management Co. Ltd now owns 538 shares of the company's stock worth $61,000 after buying an additional 529 shares in the last quarter. Finally, MassMutual Private Wealth & Trust FSB raised its holdings in shares of Chord Energy by 254.1% during the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 687 shares of the company's stock worth $67,000 after buying an additional 493 shares in the last quarter. Institutional investors and hedge funds 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.