Piper Sandler Lowers Chord Energy (NASDAQ:CHRD) Price Target to $159.00

Chord Energy (NASDAQ:CHRD - Get Free Report) had its price objective decreased by Piper Sandler from $161.00 to $159.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage presently has an "overweight" rating on the stock. Piper Sandler's price target suggests a potential upside of 55.82% from the company's previous close.

Several other research firms have also weighed in on CHRD. Williams Trading set a $155.00 price target on shares of Chord Energy in a research report on Wednesday, March 5th. Citigroup dropped their price target on Chord Energy from $135.00 to $120.00 and set a "buy" rating for the company in a research report on Monday, April 7th. Morgan Stanley set a $139.00 price target on shares of Chord Energy and gave the company a "cautious" rating in a research report on Wednesday, March 26th. Wells Fargo & Company cut their price target on shares of Chord Energy from $158.00 to $142.00 and set an "overweight" rating on the stock in a report on Monday, June 16th. Finally, Bank of America cut their target price on Chord Energy from $114.00 to $112.00 and set a "buy" rating on the stock in a research note on Friday, May 23rd. One analyst has rated the stock with a sell rating, two have assigned a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Chord Energy has an average rating of "Moderate Buy" and a consensus price target of $150.69.

Chord Energy Price Performance

CHRD traded up $5.19 during trading on Tuesday, hitting $102.04. 384,179 shares of the stock traded hands, compared to its average volume of 855,094. The business has a 50 day moving average price of $95.77 and a 200 day moving average price of $105.01. 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 twelve month low of $79.83 and a twelve month high of $181.17. The company has a market cap of $5.89 billion, a price-to-earnings ratio of 6.83 and a beta of 0.96.

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

Insider Transactions at Chord Energy

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

Hedge Funds Weigh In On Chord Energy

Several institutional investors have recently added to or reduced their stakes in CHRD. Victory Capital Management Inc. raised its holdings in Chord Energy by 27.6% during the fourth quarter. Victory Capital Management Inc. now owns 2,864,456 shares of the company's stock worth $334,912,000 after purchasing an additional 619,021 shares in the last quarter. FMR LLC boosted its position in shares of Chord Energy by 11.5% during the 4th quarter. FMR LLC now owns 3,814,384 shares of the company's stock worth $445,978,000 after purchasing an additional 394,372 shares in the last quarter. Encompass Capital Advisors LLC acquired a new position in shares of Chord Energy during the 4th quarter worth $43,745,000. Nuveen LLC acquired a new stake in shares of Chord Energy in the first quarter valued at about $36,837,000. Finally, Squarepoint Ops LLC increased its holdings in Chord Energy by 365.5% in the fourth quarter. Squarepoint Ops LLC now owns 337,284 shares of the company's stock valued at $39,435,000 after buying an additional 264,828 shares in 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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