Chord Energy (NASDAQ:CHRD) Price Target Raised to $197.00

Chord Energy (NASDAQ:CHRD) had its price objective upped by investment analysts at UBS Group from $193.00 to $197.00 in a research note issued to investors on Tuesday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. UBS Group’s price objective points to a potential upside of 27.52% from the stock’s current price.

CHRD has been the subject of a number of other reports. Seaport Research Partners began coverage on shares of Chord Energy in a report on Thursday, September 3rd. They issued a “neutral” rating for the company. Wells Fargo & Company cut their price target on shares of Chord Energy from $175.00 to $174.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 14th. Truist Financial increased their price target on shares of Chord Energy from $180.00 to $195.00 and gave the stock a “buy” rating in a research note on Monday, October 12th. Jefferies Financial Group lifted their price target on shares of Chord Energy from $133.00 to $150.00 and gave the company a “hold” rating in a report on Friday, September 18th. Finally, BMO Capital Markets reiterated an “outperform” rating on shares of Chord Energy in a report on Monday, June 29th. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $174.54.

Chord Energy Trading Down 0.1%

NASDAQ CHRD opened at $154.48 on Tuesday. Chord Energy has a 12 month low of $84.25 and a 12 month high of $157.06. The company has a 50-day moving average of $143.81 and a 200-day moving average of $136.76. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.22 and a quick ratio of 1.15. The company has a market cap of $8.45 billion, a P/E ratio of 10.35 and a beta of 0.59.

Chord Energy (NASDAQ:CHRD) last announced its quarterly earnings data on Wednesday, August 5th. The company reported $6.44 earnings per share for the quarter, missing the consensus estimate of $6.55 by ($0.11). Chord Energy had a return on equity of 10.18% and a net margin of 13.42%. The company had revenue of $2.17 billion for the quarter, compared to analysts’ expectations of $1.62 billion. During the same quarter in the previous year, the company earned $1.79 earnings per share. The company’s revenue was up 128.6% on a year-over-year basis. As a group, equities analysts predict that Chord Energy will post 21.12 earnings per share for the current year.

Insider Transactions at Chord Energy

In other news, Director Douglas E. Brooks sold 8,000 shares of the business’s stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $133.14, for a total transaction of $1,065,120.00. Following the completion of the sale, the director owned 10,705 shares in the company, valued at approximately $1,425,263.70. The trade was a 42.77% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Shannon Kinney sold 4,019 shares of the business’s stock in a transaction dated Tuesday, August 11th. The stock was sold at an average price of $140.00, for a total value of $562,660.00. Following the sale, the executive vice president owned 13,560 shares of the company’s stock, valued at $1,898,400. The trade was a 22.86% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 23,969 shares of company stock worth $3,389,599 in the last three months. 0.79% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Alpine Bank Wealth Management acquired a new position in Chord Energy during the 3rd quarter worth approximately $29,000. GAMMA Investing LLC boosted its stake in shares of Chord Energy by 45.7% in the third quarter. GAMMA Investing LLC now owns 2,358 shares of the company’s stock valued at $316,000 after purchasing an additional 740 shares during the period. Farther Finance Advisors LLC boosted its stake in shares of Chord Energy by 216.5% in the third quarter. Farther Finance Advisors LLC now owns 4,383 shares of the company’s stock valued at $588,000 after purchasing an additional 2,998 shares during the period. Argent Capital Management LLC boosted its stake in shares of Chord Energy by 25.1% in the third quarter. Argent Capital Management LLC now owns 21,934 shares of the company’s stock valued at $2,941,000 after purchasing an additional 4,407 shares during the period. Finally, Core Capital Management & Research inc. acquired a new stake in Chord Energy during the 2nd quarter valued at $668,000. 97.76% of the stock is owned by institutional investors and hedge funds.

About Chord Energy

Chord Energy Corporation is an independent exploration and production company focused on the development and operation of oil and natural gas properties in the United States. Its portfolio is concentrated in the Williston Basin, which spans parts of North Dakota and Montana. The company’s production mix includes crude oil, natural gas and natural gas liquids.

Chord’s operations include acquiring, developing and producing hydrocarbons from operated and non-operated wells, with an emphasis on drilling and completion activities in the Bakken and Three Forks formations.