Wells Fargo & Company Lowers Chord Energy (NASDAQ:CHRD) Price Target to $142.00

Chord Energy (NASDAQ:CHRD - Get Free Report) had its price objective cut by equities researchers at Wells Fargo & Company from $158.00 to $142.00 in a research report issued on Monday,Benzinga reports. The brokerage currently has an "overweight" rating on the stock. Wells Fargo & Company's price objective would suggest a potential upside of 35.83% from the stock's previous close.

Other research analysts also recently issued reports about the company. Mizuho reduced their price objective 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. Royal Bank of Canada decreased their price target on Chord Energy from $165.00 to $145.00 and set an "outperform" rating on the stock in a research note on Friday, April 11th. Bank of America cut their target price on shares of Chord Energy from $114.00 to $112.00 and set a "buy" rating on the stock in a research note on Friday, May 23rd. Williams Trading set a $155.00 price objective on Chord Energy in a research report on Wednesday, March 5th. Finally, Morgan Stanley set a $139.00 price target on Chord Energy and gave the company a "cautious" rating in a report on Wednesday, March 26th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $152.54.

Chord Energy Stock Down 1.4%

NASDAQ:CHRD traded down $1.50 during mid-day trading on Monday, hitting $104.54. 190,101 shares of the company's stock traded hands, compared to its average volume of 893,170. Chord Energy has a twelve month low of $79.83 and a twelve month high of $181.17. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.89 and a current ratio of 0.93. The company has a market capitalization of $6.04 billion, a P/E ratio of 5.38, a P/E/G ratio of 5.83 and a beta of 0.96. The company has a fifty day moving average of $93.37 and a 200 day moving average of $106.57.

Chord Energy (NASDAQ:CHRD - Get Free Report) last issued its earnings results on Tuesday, May 6th. The company reported $4.04 EPS for the quarter, beating analysts' consensus estimates of $3.60 by $0.44. The firm had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.07 billion. Chord Energy had a return on equity of 12.88% and a net margin of 19.74%. Chord Energy's revenue for the quarter was up 12.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $5.10 earnings per share. On average, analysts forecast that Chord Energy will post 15.59 EPS for the current year.

Insider Transactions at Chord Energy

In other news, EVP Shannon Browning Kinney sold 3,091 shares of the business's stock in a transaction on Thursday, May 8th. The stock was sold at an average price of $94.10, for a total value of $290,863.10. Following the sale, the executive vice president now owns 21,277 shares of the company's stock, valued at approximately $2,002,165.70. The trade was a 12.68% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.70% of the company's stock.

Institutional Investors Weigh In On Chord Energy

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

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.