Chord Energy (NASDAQ:CHRD) Given New $164.00 Price Target at Piper Sandler

Chord Energy (NASDAQ:CHRD - Get Free Report) had its price target 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 target price suggests a potential upside of 54.14% from the company's current price.

A number of other research analysts have also recently commented on CHRD. Mizuho lowered their target price on Chord Energy from $154.00 to $150.00 and set an "outperform" rating for the company in a research note on Tuesday, May 13th. Morgan Stanley set a $139.00 target price on Chord Energy and gave the company a "cautious" rating in a research note on Wednesday, March 26th. Bank of America lowered their target price on Chord Energy from $114.00 to $112.00 and set a "buy" rating for the company in a research note on Friday, May 23rd. Citigroup raised their target price on Chord Energy from $120.00 to $125.00 and gave the company a "buy" rating in a research note on Wednesday, July 9th. Finally, Wall Street Zen upgraded Chord Energy from a "sell" rating to a "hold" rating in a research note on Friday, June 27th. Two research analysts have rated the stock with a sell rating, one has given a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $151.54.

Chord Energy Price Performance

Chord Energy stock traded up $0.43 during midday trading on Thursday, hitting $106.40. 510,334 shares of the company's stock were exchanged, compared to its average volume of 854,816. Chord Energy has a 52-week low of $79.83 and a 52-week high of $177.28. The stock has a 50-day moving average price of $99.30 and a two-hundred day moving average price of $104.37. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.83 and a current ratio of 0.89. The company has a market cap of $6.15 billion, a P/E ratio of 7.12 and a beta of 0.96.

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

Insider Buying and Selling at Chord Energy

In other news, EVP Shannon Browning Kinney sold 3,091 shares of the company's stock in a transaction dated Thursday, May 8th. The stock was sold at an average price of $94.10, for a total value of $290,863.10. Following the completion of the transaction, the executive vice president owned 21,277 shares of the company's stock, valued at $2,002,165.70. This represents a 12.68% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.70% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Chord Energy

Hedge funds have recently made changes to their positions in the company. Natixis Advisors LLC purchased a new stake in shares of Chord Energy in the fourth quarter worth approximately $1,191,000. JPMorgan Chase & Co. boosted its position in shares of Chord Energy by 3.3% in the 4th quarter. JPMorgan Chase & Co. now owns 263,288 shares of the company's stock worth $30,784,000 after purchasing an additional 8,455 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its position in shares of Chord Energy by 6.4% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 791,958 shares of the company's stock worth $89,198,000 after purchasing an additional 47,649 shares in the last quarter. Aurora Investment Counsel acquired a new stake in shares of Chord Energy in the 1st quarter worth $1,940,000. Finally, New York State Teachers Retirement System lifted its position in Chord Energy by 8.4% during the 1st quarter. New York State Teachers Retirement System now owns 29,190 shares of the company's stock worth $3,290,000 after acquiring an additional 2,263 shares during the period. 97.76% of the stock is currently owned by hedge funds and other institutional investors.

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.