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

Chord Energy (NASDAQ:CHRD - Get Free Report) had its price objective upped by analysts at Wells Fargo & Company from $142.00 to $143.00 in a report released on Tuesday,Benzinga reports. The firm currently has an "overweight" rating on the stock. Wells Fargo & Company's price objective indicates a potential upside of 39.61% from the company's current price.

A number of other equities research analysts have also commented on the stock. Bank of America lowered their price target on shares of Chord Energy from $114.00 to $112.00 and set a "buy" rating for the company in a report on Friday, May 23rd. Citigroup increased 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. Royal Bank Of Canada cut their price objective on shares of Chord Energy from $165.00 to $145.00 and set an "outperform" rating on the stock in a research report on Friday, April 11th. Mizuho cut their price objective on shares of Chord Energy from $154.00 to $150.00 and set an "outperform" rating on the stock in a research report on Tuesday, May 13th. Finally, Piper Sandler dropped their price target on shares of Chord Energy from $161.00 to $159.00 and set an "overweight" rating on the stock in a report on Tuesday, July 1st. One research analyst has rated the stock with a sell rating, two have issued a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Chord Energy has a consensus rating of "Moderate Buy" and a consensus target price of $151.15.

Chord Energy Trading Down 1.6%

Shares of Chord Energy stock traded down $1.66 during trading on Tuesday, reaching $102.43. The company's stock had a trading volume of 269,888 shares, compared to its average volume of 852,661. Chord Energy has a 52-week low of $79.83 and a 52-week high of $181.17. The company has a market cap of $5.92 billion, a price-to-earnings ratio of 6.89 and a beta of 0.96. The firm's 50-day moving average is $98.54 and its two-hundred day moving average is $104.51. The company has a quick ratio of 0.83, a current ratio of 0.89 and a debt-to-equity ratio of 0.09.

Chord Energy (NASDAQ:CHRD - Get Free Report) last posted its quarterly earnings results on Tuesday, May 6th. The company reported $4.04 EPS for the quarter, beating analysts' consensus estimates of $3.60 by $0.44. Chord Energy had a net margin of 16.15% and a return on equity of 10.34%. The company had revenue of $1.22 billion during the quarter, compared to analyst estimates of $1.07 billion. During the same period in the prior year, the business posted $5.10 EPS. The firm's revenue was up 12.0% compared to the same quarter last year. On average, sell-side analysts anticipate that Chord Energy will post 15.59 earnings per share for the current year.

Insider Buying and Selling at Chord Energy

In other news, EVP Shannon Browning Kinney sold 3,091 shares of the stock in a transaction that occurred on Thursday, May 8th. The shares were sold at an average price of $94.10, for a total value of $290,863.10. Following the transaction, the executive vice president owned 21,277 shares in the company, valued at $2,002,165.70. This represents a 12.68% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.70% of the stock is owned by company insiders.

Hedge Funds Weigh In On Chord Energy

Several large investors have recently added to or reduced their stakes in the company. Natixis Advisors LLC purchased a new position in shares of Chord Energy in the fourth quarter worth $1,191,000. JPMorgan Chase & Co. boosted its position in shares of Chord Energy by 3.3% during the fourth quarter. JPMorgan Chase & Co. now owns 263,288 shares of the company's stock worth $30,784,000 after acquiring an additional 8,455 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its position in shares of 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 acquiring an additional 47,649 shares during the last quarter. New York State Teachers Retirement System boosted its position in shares of 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 acquiring an additional 2,263 shares during the last quarter. Finally, Perigon Wealth Management LLC boosted its position in shares of Chord Energy by 56.9% during the first quarter. Perigon Wealth Management LLC now owns 35,642 shares of the company's stock worth $4,018,000 after acquiring an additional 12,925 shares during the last quarter. Hedge funds and other 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.