Truist Financial Increases Chord Energy (NASDAQ:CHRD) Price Target to $187.00

Key Points

• Truist Financial raised its price target on Chord Energy from $169 to $187 and kept a buy rating, implying roughly a 38.5% upside from the prior close.
• Chord beat quarterly estimates (EPS $1.28 vs. $1.17; revenue $1.17B vs. $1.03B) but revenue fell 19.6% year-over-year; the stock trades around $135 with a market cap of $7.65B and a high P/E of 214.3.
• The Street consensus is a Moderate Buy with a $146.58 target, though analyst views diverge (e.g., Piper Sandler $190, Zacks upgraded to strong-buy), and insiders sold about 23,927 shares (~$2.9M) in the last three months.

Chord Energy (NASDAQ:CHRD - Get Free Report) had its target price hoisted by stock analysts at Truist Financial from $169.00 to $187.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage presently has a "buy" rating on the stock. Truist Financial's target price would indicate a potential upside of 38.51% from the company's previous close.

Several other research analysts have also weighed in on CHRD. Mizuho set a $148.00 price objective on shares of Chord Energy in a research note on Friday, January 9th. Royal Bank Of Canada reduced their price objective on shares of Chord Energy from $135.00 to $128.00 and set an "outperform" rating on the stock in a research note on Tuesday, January 13th. Piper Sandler lifted their price objective on shares of Chord Energy from $158.00 to $190.00 and gave the stock an "overweight" rating in a research note on Thursday, March 12th. Citigroup lifted their price objective on shares of Chord Energy from $120.00 to $155.00 and gave the stock a "neutral" rating in a research note on Tuesday, March 31st. Finally, Zacks Research raised shares of Chord Energy from a "hold" rating to a "strong-buy" rating in a research note on Monday, April 6th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and four have assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $146.58.

Chord Energy Trading Up 0.6%

Shares of CHRD traded up $0.84 on Monday, reaching $135.01. 254,698 shares of the company's stock were exchanged, compared to its average volume of 1,038,840. The company has a current ratio of 1.06, a quick ratio of 0.98 and a debt-to-equity ratio of 0.18. The stock has a market capitalization of $7.65 billion, a P/E ratio of 214.30 and a beta of 0.66. The business has a 50 day moving average price of $119.62 and a two-hundred day moving average price of $102.61. Chord Energy has a 12 month low of $84.25 and a 12 month high of $148.41.

Chord Energy (NASDAQ:CHRD - Get Free Report) last posted its quarterly earnings results on Wednesday, February 25th. The company reported $1.28 earnings per share for the quarter, topping analysts' consensus estimates of $1.17 by $0.11. The business had revenue of $1.17 billion during the quarter, compared to the consensus estimate of $1.03 billion. Chord Energy had a net margin of 0.91% and a return on equity of 6.71%. Chord Energy's revenue for the quarter was down 19.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.49 earnings per share. Research analysts anticipate that Chord Energy will post 15.59 earnings per share for the current year.

Insider Buying and Selling at Chord Energy

In other news, Director Douglas E. Brooks sold 2,126 shares of the business's stock in a transaction on Friday, March 6th. The shares were sold at an average price of $120.28, for a total value of $255,715.28. Following the sale, the director owned 25,181 shares of the company's stock, valued at $3,028,770.68. The trade was a 7.79% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO Lara J. Kroll sold 5,000 shares of the business's stock in a transaction on Tuesday, March 3rd. The stock was sold at an average price of $113.66, for a total transaction of $568,300.00. Following the completion of the sale, the chief accounting officer directly owned 8,921 shares in the company, valued at approximately $1,013,960.86. This represents a 35.92% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 23,927 shares of company stock worth $2,912,028. Company insiders own 0.79% of the company's stock.

Institutional Trading of Chord Energy

Institutional investors have recently made changes to their positions in the business. WealthCollab LLC lifted its position in shares of Chord Energy by 90.6% in the second quarter. WealthCollab LLC now owns 305 shares of the company's stock worth $30,000 after purchasing an additional 145 shares in the last quarter. Quent Capital LLC acquired a new position in Chord Energy during the third quarter worth $32,000. Pilgrim Partners Asia Pte Ltd acquired a new position in Chord Energy during the third quarter worth $46,000. Rockefeller Capital Management L.P. increased its holdings in Chord Energy by 213.1% during the fourth quarter. Rockefeller Capital Management L.P. now owns 501 shares of the company's stock worth $47,000 after buying an additional 341 shares during the last quarter. Finally, Triumph Capital Management acquired a new position in Chord Energy during the third quarter worth $56,000. Institutional investors own 97.76% of the company's stock.

Chord Energy Company Profile

Chord Energy Corporation NASDAQ: CHRD, formerly known as Oasis Petroleum Inc, is an independent exploration and production company focused on the acquisition, development and production of crude oil, natural gas and natural gas liquids. Headquartered in Houston, Texas, Chord Energy emerged from financial restructuring in early 2021 and rebranded in October 2022 to reflect its renewed strategic vision.

The company’s core operations are concentrated in two prolific U.S. resource plays: the Williston Basin across North Dakota and Montana, and the Delaware Basin spanning parts of West Texas and southeastern New Mexico.

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