Piper Sandler Issues Positive Forecast for Chord Energy (NASDAQ:CHRD) Stock Price

Chord Energy (NASDAQ:CHRD - Get Free Report) had its price objective lifted by investment analysts at Piper Sandler from $159.00 to $164.00 in a note issued to investors on Thursday,Benzinga reports. The firm presently has an "overweight" rating on the stock. Piper Sandler's price target indicates a potential upside of 54.14% from the stock's previous close.

Several other analysts have also weighed in on CHRD. Bank of America cut their price objective on Chord Energy from $114.00 to $112.00 and set a "buy" rating for the company in a report on Friday, May 23rd. Wells Fargo & Company upped their price objective on Chord Energy from $142.00 to $143.00 and gave the company an "overweight" rating in a report on Tuesday, July 15th. Wall Street Zen raised Chord Energy from a "sell" rating to a "hold" rating in a report on Friday, June 27th. Royal Bank Of Canada reduced their target price on Chord Energy from $165.00 to $145.00 and set an "outperform" rating for the company in a report on Friday, April 11th. Finally, Citigroup upped their price target on Chord Energy from $120.00 to $125.00 and gave the company a "buy" rating in a research report on Wednesday, July 9th. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $151.54.

Chord Energy Stock Up 0.4%

Chord Energy stock traded up $0.43 during midday trading on Thursday, hitting $106.40. 510,334 shares of the company were exchanged, compared to its average volume of 855,718. The company's fifty day moving average price is $99.30 and its 200-day moving average price is $104.18. The company has a market cap of $6.15 billion, a PE ratio of 7.12 and a beta of 0.96. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.89 and a quick ratio of 0.83. Chord Energy has a fifty-two week low of $79.83 and a fifty-two week high of $175.55.

Chord Energy (NASDAQ:CHRD - Get Free Report) last issued its quarterly earnings results on Tuesday, May 6th. The company reported $4.04 earnings per share for the quarter, beating analysts' consensus estimates of $3.60 by $0.44. The business had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $1.07 billion. Chord Energy had a return on equity of 10.34% and a net margin of 16.15%. The business's quarterly revenue was up 12.0% on a year-over-year basis. During the same period in the previous year, the business earned $5.10 EPS. On average, research analysts predict that Chord Energy will post 15.59 EPS for the current fiscal year.

Insider Buying and Selling at Chord Energy

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

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Lynx Investment Advisory raised its stake in Chord Energy by 3.6% in the second quarter. Lynx Investment Advisory now owns 2,847 shares of the company's stock valued at $276,000 after buying an additional 99 shares during the period. Envestnet Portfolio Solutions Inc. increased its stake in shares of Chord Energy by 2.9% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 3,710 shares of the company's stock worth $434,000 after purchasing an additional 106 shares during the period. National Bank of Canada FI increased its stake in shares of Chord Energy by 2.1% during the first quarter. National Bank of Canada FI now owns 5,258 shares of the company's stock worth $592,000 after purchasing an additional 106 shares during the period. Voya Investment Management LLC increased its stake in shares of Chord Energy by 1.4% during the first quarter. Voya Investment Management LLC now owns 7,579 shares of the company's stock worth $854,000 after purchasing an additional 107 shares during the period. Finally, MGO One Seven LLC increased its stake in shares of Chord Energy by 6.7% during the fourth quarter. MGO One Seven LLC now owns 1,775 shares of the company's stock worth $208,000 after purchasing an additional 111 shares during the period. 97.76% of the stock is owned by institutional investors and hedge funds.

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.