Chord Energy (NASDAQ:CHRD) Stock Price Expected to Rise, UBS Group Analyst Says

Key Points

• UBS Group raised its price target on Chord Energy from $119 to $142 and maintains a "buy" rating, implying roughly a 17.4% upside from the prior close.
• Analyst coverage is mixed—eight Buys, four Holds and two Sells—leaving a MarketBeat consensus rating of "Hold" and an average target of $123.82.
• Chord beat quarterly estimates with EPS of $1.28 (vs. $1.17 est.) and revenue of $1.17B (above estimates) even as revenue declined ~19.6% year‑over‑year; the stock traded at $120.95, near its 52‑week high of $121.05.

Chord Energy (NASDAQ:CHRD - Get Free Report) had its target price upped by equities researchers at UBS Group from $119.00 to $142.00 in a report released on Thursday,Benzinga reports. The firm currently has a "buy" rating on the stock. UBS Group's price target points to a potential upside of 17.40% from the stock's previous close.

CHRD has been the topic of a number of other research reports. Morgan Stanley decreased their target price on shares of Chord Energy from $123.00 to $114.00 and set an "equal weight" rating on the stock in a research report on Friday, January 23rd. Weiss Ratings lowered Chord Energy from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Monday. Wells Fargo & Company lowered their price objective on Chord Energy from $113.00 to $109.00 and set an "overweight" rating for the company in a research report on Tuesday, January 27th. Mizuho set a $148.00 target price on Chord Energy in a research report on Friday, January 9th. Finally, Jefferies Financial Group set a $99.00 price target on Chord Energy in a research note on Saturday, January 17th. Eight equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, Chord Energy presently has an average rating of "Hold" and a consensus target price of $123.82.

Chord Energy Price Performance

CHRD traded up $6.95 during midday trading on Thursday, reaching $120.95. 768,587 shares of the company's stock were exchanged, compared to its average volume of 870,517. The business's 50-day moving average price is $98.23 and its 200 day moving average price is $97.32. The stock has a market capitalization of $6.87 billion, a PE ratio of 191.98 and a beta of 0.84. Chord Energy has a 1-year low of $79.83 and a 1-year high of $121.05. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.06 and a quick ratio of 0.98.

Chord Energy (NASDAQ:CHRD - Get Free Report) last issued its quarterly earnings data on Wednesday, February 25th. The company reported $1.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.17 by $0.11. Chord Energy had a return on equity of 6.71% and a net margin of 0.91%.The firm had revenue of $1.17 billion during the quarter, compared to the consensus estimate of $1.03 billion. During the same period in the previous year, the firm posted $3.49 EPS. The company's quarterly revenue was down 19.6% compared to the same quarter last year. As a group, equities analysts anticipate that Chord Energy will post 15.59 EPS for the current fiscal year.

Institutional Investors Weigh In On Chord Energy

A number of large investors have recently added to or reduced their stakes in CHRD. Assetmark Inc. increased its position in shares of Chord Energy by 7.3% during the second quarter. Assetmark Inc. now owns 1,417 shares of the company's stock worth $137,000 after acquiring an additional 96 shares during the last quarter. SBI Securities Co. Ltd. raised its position in shares of Chord Energy by 16.5% in the 4th quarter. SBI Securities Co. Ltd. now owns 797 shares of the company's stock valued at $74,000 after purchasing an additional 113 shares in the last quarter. First Citizens Bank & Trust Co. raised its position in shares of Chord Energy by 2.3% in the 3rd quarter. First Citizens Bank & Trust Co. now owns 5,306 shares of the company's stock valued at $527,000 after purchasing an additional 120 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Chord Energy by 18.8% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 822 shares of the company's stock valued at $82,000 after buying an additional 130 shares during the last quarter. Finally, WealthCollab LLC grew its position in shares of Chord Energy by 90.6% during the second quarter. WealthCollab LLC now owns 305 shares of the company's stock worth $30,000 after buying an additional 145 shares in the last quarter. 97.76% of the stock is owned by institutional investors and hedge funds.

About Chord Energy

Chord Energy Corporation NASDAQ: CHRD, formerly known as Oasis Petroleum Inc, is an independent exploration and production company focused on the acquisition, development and production of crude oil, natural gas and natural gas liquids. Headquartered in Houston, Texas, Chord Energy emerged from financial restructuring in early 2021 and rebranded in October 2022 to reflect its renewed strategic vision.

The company’s core operations are concentrated in two prolific U.S. resource plays: the Williston Basin across North Dakota and Montana, and the Delaware Basin spanning parts of West Texas and southeastern New Mexico.

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