Chord Energy (NASDAQ:CHRD) Upgraded at Wall Street Zen

Key Points

• Chord Energy was upgraded from a "sell" rating to a "hold" rating by Wall Street Zen, reflecting a positive shift in analyst sentiment.
• Several analysts have adjusted their price targets for Chord Energy, with Piper Sandler lowering it to $167.00 and Citigroup increasing it to $125.00, indicating mixed market expectations.
• The company reported Q2 earnings showing a year-over-year revenue increase of 5.3%, although it missed EPS estimates by $0.09, signaling potential challenges despite revenue growth.

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

A number of other equities analysts also recently issued reports on the stock. Piper Sandler dropped their price objective on shares of Chord Energy from $169.00 to $167.00 and set an "overweight" rating on the stock in a research note on Friday, October 3rd. 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 note on Wednesday, July 9th. Scotiabank initiated coverage on shares of Chord Energy in a research note on Friday, September 19th. They set a "sector perform" rating and a $120.00 price objective on the stock. Weiss Ratings reiterated a "hold (c-)" rating on shares of Chord Energy in a research note on Wednesday, October 8th. Finally, Wells Fargo & Company lowered their target price on shares of Chord Energy from $149.00 to $108.00 and set an "overweight" rating for the company in a research note on Friday. Ten equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, Chord Energy currently has an average rating of "Moderate Buy" and an average target price of $138.38.

Chord Energy Price Performance

NASDAQ CHRD opened at $89.74 on Friday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.90 and a current ratio of 0.97. The firm's 50 day moving average price is $101.79 and its 200-day moving average price is $99.53. Chord Energy has a 52-week low of $79.83 and a 52-week high of $136.38. The company has a market cap of $5.14 billion, a PE ratio of 22.83 and a beta of 0.94.

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 business had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $984.07 million. During the same quarter in the prior year, the business posted $4.69 earnings per share. Chord Energy's revenue for the quarter was up 5.3% on a year-over-year basis. Sell-side analysts forecast that Chord Energy will post 15.59 EPS for the current fiscal year.

Insiders Place Their Bets

In other Chord Energy news, EVP Shannon Browning Kinney sold 3,019 shares of the firm's stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $105.43, for a total value of $318,293.17. Following the completion of the sale, the executive vice president directly owned 14,650 shares in the company, valued at $1,544,549.50. This trade represents a 17.09% decrease in their ownership of the stock. 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 currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. VAUGHAN & Co SECURITIES INC. raised its holdings in shares of Chord Energy by 75.4% in the third quarter. VAUGHAN & Co SECURITIES INC. now owns 3,685 shares of the company's stock worth $366,000 after buying an additional 1,584 shares during the last quarter. CWM LLC raised its holdings in shares of Chord Energy by 31.5% in the third quarter. CWM LLC now owns 36,148 shares of the company's stock worth $3,592,000 after buying an additional 8,664 shares during the last quarter. Norden Group LLC raised its holdings in shares of Chord Energy by 22.3% in the third quarter. Norden Group LLC now owns 2,749 shares of the company's stock worth $273,000 after buying an additional 501 shares during the last quarter. Albert D Mason Inc. raised its holdings in shares of Chord Energy by 5.9% in the third quarter. Albert D Mason Inc. now owns 7,778 shares of the company's stock worth $773,000 after buying an additional 431 shares during the last quarter. Finally, Brighton Jones LLC raised its holdings in shares of Chord Energy by 36.8% in the third quarter. Brighton Jones LLC now owns 5,686 shares of the company's stock worth $565,000 after buying an additional 1,531 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.

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