Chord Energy (NASDAQ:CHRD) Price Target Raised to $175.00

Chord Energy (NASDAQ:CHRD) had its target price raised by analysts at Morgan Stanley from $168.00 to $175.00 in a note issued to investors on Friday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Morgan Stanley’s price objective suggests a potential upside of 22.30% from the stock’s current price.

Several other equities research analysts have also weighed in on the company. Williams Trading set a $189.00 price target on Chord Energy in a research report on Monday, April 20th. Wells Fargo & Company upped their target price on shares of Chord Energy from $136.00 to $175.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 8th. Weiss Ratings raised shares of Chord Energy from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Tuesday, March 17th. Truist Financial cut their price objective on shares of Chord Energy from $187.00 to $185.00 and set a “buy” rating on the stock in a report on Friday, May 8th. Finally, Piper Sandler upped their price target on Chord Energy from $158.00 to $190.00 and gave the stock an “overweight” rating in a research note on Thursday, March 12th. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, Chord Energy has an average rating of “Moderate Buy” and a consensus price target of $156.69.

Chord Energy Trading Up 0.2%

Shares of CHRD opened at $143.09 on Friday. Chord Energy has a 1-year low of $84.25 and a 1-year high of $151.95. The company has a current ratio of 1.02, a quick ratio of 0.96 and a debt-to-equity ratio of 0.18. The firm’s 50-day moving average price is $137.30 and its 200-day moving average price is $111.07. The firm has a market capitalization of $8.06 billion, a price-to-earnings ratio of -126.10 and a beta of 0.52.

Chord Energy (NASDAQ:CHRD) last released its quarterly earnings results on Tuesday, May 5th. The company reported $4.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.51 by $1.05. Chord Energy had a negative net margin of 1.25% and a positive return on equity of 7.06%. The company had revenue of $1.67 billion during the quarter, compared to the consensus estimate of $1.21 billion. During the same period in the prior year, the firm earned $4.04 earnings per share. Chord Energy’s revenue was up 37.1% on a year-over-year basis. Sell-side analysts anticipate that Chord Energy will post 19.11 EPS for the current year.

Insider Transactions at Chord Energy

In related news, EVP Shannon Browning Kinney sold 1,801 shares of the firm’s stock in a transaction that occurred on Tuesday, March 3rd. The shares were sold at an average price of $114.36, for a total value of $205,962.36. Following the sale, the executive vice president owned 20,188 shares in the company, valued at approximately $2,308,699.68. This trade represents a 8.19% 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, EVP Michael H. Lou sold 15,000 shares of the stock in a transaction on Thursday, March 12th. The shares were sold at an average price of $125.47, for a total value of $1,882,050.00. Following the transaction, the executive vice president directly owned 82,699 shares in the company, valued at $10,376,243.53. The trade was a 15.35% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 33,203 shares of company stock valued at $4,197,995. Insiders own 0.79% of the company’s stock.

Institutional Investors Weigh In On Chord Energy

A number of large investors have recently made changes to their positions in CHRD. Bessemer Group Inc. boosted its holdings in shares of Chord Energy by 63.8% in the first quarter. Bessemer Group Inc. now owns 190 shares of the company’s stock worth $27,000 after buying an additional 74 shares during the last quarter. V Square Quantitative Management LLC bought a new stake in shares of Chord Energy during the 1st quarter valued at $29,000. Root Financial Partners LLC grew its position in shares of Chord Energy by 178.6% during the 1st quarter. Root Financial Partners LLC now owns 234 shares of the company’s stock valued at $33,000 after acquiring an additional 150 shares during the period. WealthCollab LLC increased its stake in shares of Chord Energy by 90.6% in the 2nd 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. Finally, Pilgrim Partners Asia Pte Ltd bought a new position in Chord Energy in the 3rd quarter worth $46,000. 97.76% of the stock is currently owned by institutional investors.

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.