Chord Energy (NASDAQ:CHRD) Raised to "Hold" at Wall Street Zen

Chord Energy (NASDAQ:CHRD - Get Free Report) was upgraded by Wall Street Zen from a "sell" rating to a "hold" rating in a research report issued on Friday.

Several other analysts have also issued reports on the stock. Morgan Stanley set a $139.00 target price on shares of Chord Energy and gave the stock a "cautious" rating in a research note on Wednesday, March 26th. Citigroup reduced their target price on shares of Chord Energy from $135.00 to $120.00 and set a "buy" rating for the company in a research note on Monday, April 7th. Williams Trading set a $155.00 target price on shares of Chord Energy in a research note on Wednesday, March 5th. Bank of America reduced 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 note on Friday, May 23rd. Finally, Piper Sandler reduced their target price on shares of Chord Energy from $184.00 to $183.00 and set an "overweight" rating for the company in a research note on Tuesday, April 22nd. One analyst has rated the stock with a sell rating, two have given a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Chord Energy presently has a consensus rating of "Moderate Buy" and an average target price of $152.54.

Chord Energy Stock Down 0.7%

CHRD traded down $0.65 during trading on Friday, hitting $98.70. 864,834 shares of the company's stock were exchanged, compared to its average volume of 890,850. The company has a quick ratio of 0.83, a current ratio of 0.89 and a debt-to-equity ratio of 0.09. The business's 50 day moving average is $95.69 and its two-hundred day moving average is $105.37. Chord Energy has a fifty-two week low of $79.83 and a fifty-two week high of $181.17. The stock has a market cap of $5.70 billion, a P/E ratio of 6.60, a PEG ratio of 6.89 and a beta of 0.96.

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

Insider Activity at Chord Energy

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

Institutional Investors Weigh In On Chord Energy

Several institutional investors have recently added to or reduced their stakes in CHRD. Altshuler Shaham Ltd purchased a new stake in Chord Energy during the fourth quarter valued at about $25,000. Twin Tree Management LP purchased a new stake in Chord Energy during the fourth quarter valued at about $33,000. Larson Financial Group LLC lifted its holdings in Chord Energy by 238.3% during the fourth quarter. Larson Financial Group LLC now owns 318 shares of the company's stock valued at $37,000 after purchasing an additional 224 shares during the last quarter. Hexagon Capital Partners LLC lifted its holdings in Chord Energy by 321.7% during the first quarter. Hexagon Capital Partners LLC now owns 447 shares of the company's stock valued at $50,000 after purchasing an additional 341 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd lifted its holdings 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 valued at $61,000 after purchasing an additional 529 shares during the last quarter. 97.76% of the stock is owned by hedge funds and other institutional investors.

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.

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