Chord Energy's (CHRD) Outperform Rating Reiterated at Royal Bank Of Canada

Key Points

• The Royal Bank of Canada has reiterated its "outperform" rating for Chord Energy, with a target price of $130.00, suggesting a potential upside of 29.69% from its current value.
• Analysts have varied opinions on Chord Energy, with one firm lowering its rating to "sell" while others, like Citigroup and Bank of America, have raised their price targets and maintained "buy" ratings.
• Chord Energy's recent earnings report showed a quarterly revenue of $1.18 billion, exceeding estimates, though earnings per share fell short at $1.79.

Chord Energy (NASDAQ:CHRD - Get Free Report)'s stock had its "outperform" rating reissued by stock analysts at Royal Bank Of Canada in a research note issued on Monday,Benzinga reports. They currently have a $130.00 target price on the stock. Royal Bank Of Canada's target price would indicate a potential upside of 29.69% from the company's current price.

A number of other analysts have also commented on CHRD. Wall Street Zen lowered Chord Energy from a "hold" rating to a "sell" rating in a report on Friday, July 18th. Citigroup raised their price target on Chord Energy from $120.00 to $125.00 and gave the stock a "buy" rating in a research note on Wednesday, July 9th. Weiss Ratings reiterated a "hold (c-)" rating on shares of Chord Energy in a research report on Saturday, September 27th. Bank of America boosted their price objective on Chord Energy from $112.00 to $123.00 and gave the company a "buy" rating in a research report on Wednesday, September 17th. Finally, UBS Group boosted their price target on shares of Chord Energy from $122.00 to $130.00 and gave the stock a "buy" rating in a research report on Tuesday, September 16th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $143.42.

Chord Energy Trading Up 1.1%

CHRD stock traded up $1.11 during mid-day trading on Monday, reaching $100.24. The company's stock had a trading volume of 39,507 shares, compared to its average volume of 845,618. The company has a market cap of $5.74 billion, a price-to-earnings ratio of 25.57 and a beta of 0.94. Chord Energy has a 12 month low of $79.83 and a 12 month high of $139.26. The business's 50 day moving average price is $104.51 and its 200 day moving average price is $100.65. The company has a current ratio of 0.97, a quick ratio of 0.90 and a debt-to-equity ratio of 0.11.

Chord Energy (NASDAQ:CHRD - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The company reported $1.79 earnings per share for the quarter, missing the consensus estimate of $1.88 by ($0.09). Chord Energy had a return on equity of 9.02% and a net margin of 5.02%.The business had revenue of $1.18 billion during the quarter, compared to analysts' expectations of $984.07 million. During the same period in the prior year, the firm posted $4.69 EPS. The firm's revenue for the quarter was up 5.3% on a year-over-year basis. On average, equities research analysts predict that Chord Energy will post 15.59 EPS for the current year.

Insider Activity at Chord Energy

In other news, EVP Shannon Browning Kinney sold 3,019 shares of the stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $105.43, for a total transaction of $318,293.17. Following the transaction, the executive vice president owned 14,650 shares in the company, valued at $1,544,549.50. This represents a 17.09% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.70% of the company's stock.

Institutional Investors Weigh In On Chord Energy

Institutional investors have recently modified their holdings of the business. Bayforest Capital Ltd acquired a new position in shares of Chord Energy in the second quarter valued at approximately $28,000. WealthCollab LLC grew its stake in shares of Chord Energy by 90.6% in the second quarter. WealthCollab LLC now owns 305 shares of the company's stock valued at $30,000 after acquiring an additional 145 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in Chord Energy by 91.2% during the second quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 411 shares of the company's stock worth $40,000 after buying an additional 196 shares in the last quarter. Hexagon Capital Partners LLC raised its holdings in Chord Energy by 321.7% in the 1st quarter. Hexagon Capital Partners LLC now owns 447 shares of the company's stock valued at $50,000 after buying an additional 341 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd raised its holdings in 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 purchasing an additional 529 shares during 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.

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