Chord Energy (NASDAQ:CHRD) Price Target Raised to $230.00 at Piper Sandler

Chord Energy (NASDAQ:CHRD - Get Free Report) had its price target increased by stock analysts at Piper Sandler from $219.00 to $230.00 in a report issued on Friday, Benzinga reports. The brokerage currently has an "overweight" rating on the stock. Piper Sandler's price objective would indicate a potential upside of 27.78% from the stock's current price.

Other analysts have also issued research reports about the company. Truist Financial cut their target price on Chord Energy from $229.00 to $224.00 and set a "buy" rating for the company in a research note on Friday, April 5th. Bank of America downgraded Chord Energy from a "buy" rating to an "underperform" rating and lowered their price objective for the company from $177.00 to $165.00 in a research report on Friday, January 5th. Mizuho boosted their target price on Chord Energy from $189.00 to $195.00 and gave the company a "buy" rating in a research note on Thursday, March 14th. Finally, Stifel Nicolaus lifted their target price on shares of Chord Energy from $178.00 to $211.00 and gave the company a "buy" rating in a research note on Tuesday, February 27th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $191.50.

Chord Energy Price Performance

NASDAQ:CHRD traded up $1.35 during midday trading on Friday, hitting $180.00. The company had a trading volume of 487,832 shares, compared to its average volume of 674,049. The company has a market capitalization of $7.48 billion, a PE ratio of 7.65 and a beta of 1.06. The company has a quick ratio of 1.16, a current ratio of 1.22 and a debt-to-equity ratio of 0.08. Chord Energy has a 52-week low of $133.34 and a 52-week high of $190.23. The stock's fifty day moving average price is $170.56 and its 200-day moving average price is $164.54.

Chord Energy (NASDAQ:CHRD - Get Free Report) last issued its quarterly earnings results on Wednesday, February 21st. The company reported $5.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.04 by $0.21. The firm had revenue of $964.69 million during the quarter, compared to analyst estimates of $891.67 million. Chord Energy had a return on equity of 16.35% and a net margin of 26.27%. As a group, research analysts expect that Chord Energy will post 21.71 earnings per share for the current year.

Insider Transactions at Chord Energy

In other Chord Energy news, CFO Michael H. Lou sold 3,000 shares of the stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $165.00, for a total value of $495,000.00. Following the transaction, the chief financial officer now owns 128,209 shares of the company's stock, valued at $21,154,485. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.70% of the company's stock.

Institutional Trading of Chord Energy

Large investors have recently added to or reduced their stakes in the business. United Capital Management of KS Inc. purchased a new position in shares of Chord Energy during the 1st quarter worth $3,694,000. State of Alaska Department of Revenue grew its holdings in Chord Energy by 269.6% during the first quarter. State of Alaska Department of Revenue now owns 16,478 shares of the company's stock valued at $2,936,000 after purchasing an additional 12,020 shares during the period. Measured Wealth Private Client Group LLC increased its position in Chord Energy by 14.5% in the first quarter. Measured Wealth Private Client Group LLC now owns 1,897 shares of the company's stock worth $338,000 after buying an additional 240 shares in the last quarter. State of Michigan Retirement System raised its stake in shares of Chord Energy by 2.0% in the first quarter. State of Michigan Retirement System now owns 10,100 shares of the company's stock worth $1,800,000 after buying an additional 200 shares during the period. Finally, Allspring Global Investments Holdings LLC raised its stake in shares of Chord Energy by 8.2% in the first quarter. Allspring Global Investments Holdings LLC now owns 532,144 shares of the company's stock worth $94,849,000 after buying an additional 40,407 shares during the period. 97.76% of the stock is currently owned by 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.