Wells Fargo & Company Raises Chord Energy (NASDAQ:CHRD) Price Target to $175.00

Chord Energy (NASDAQ:CHRD) had its price target hoisted by equities research analysts at Wells Fargo & Company from $136.00 to $175.00 in a report released on Wednesday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Wells Fargo & Company‘s target price suggests a potential upside of 30.48% from the stock’s current price.

A number of other research firms have also recently issued reports on CHRD. Pickering Energy Partners cut Chord Energy from an “outperform” rating to a “neutral” rating in a research note on Friday, January 9th. Citigroup raised their price target on Chord Energy from $120.00 to $155.00 and gave the company a “neutral” rating in a report on Tuesday, March 31st. Zacks Research raised Chord Energy from a “hold” rating to a “strong-buy” rating in a report on Monday. Scotiabank raised Chord Energy to a “hold” rating in a report on Friday, March 27th. Finally, Royal Bank Of Canada lowered their price target on Chord Energy from $135.00 to $128.00 and set an “outperform” rating on the stock in a report on Tuesday, January 13th. Two research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $145.08.

Chord Energy Stock Performance

CHRD stock traded down $11.26 during mid-day trading on Wednesday, reaching $134.12. The company had a trading volume of 2,034,986 shares, compared to its average volume of 1,043,489. The company has a quick ratio of 0.98, a current ratio of 1.06 and a debt-to-equity ratio of 0.18. The stock has a market capitalization of $7.60 billion, a P/E ratio of 212.21 and a beta of 0.66. Chord Energy has a one year low of $79.83 and a one year high of $148.41. The stock’s 50-day simple moving average is $117.53 and its two-hundred day simple moving average is $101.94.

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

Insider Buying and Selling at Chord Energy

In other news, EVP Shannon Browning Kinney sold 1,801 shares of the firm’s stock in a transaction dated Tuesday, March 3rd. The shares were sold at an average price of $114.36, for a total transaction of $205,962.36. Following the completion of the transaction, 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 position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Michael H. Lou sold 15,000 shares of the firm’s stock in a transaction dated Thursday, March 12th. The shares were sold at an average price of $125.47, for a total transaction of $1,882,050.00. Following the transaction, the executive vice president owned 82,699 shares of the company’s stock, valued at approximately $10,376,243.53. This trade represents a 15.35% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 23,927 shares of company stock worth $2,912,028. Company insiders own 0.70% of the company’s stock.

Hedge Funds Weigh In On Chord Energy

Several large investors have recently made changes to their positions in the business. SBI Securities Co. Ltd. increased its stake in Chord Energy by 16.5% in the 4th quarter. SBI Securities Co. Ltd. now owns 797 shares of the company’s stock worth $74,000 after purchasing an additional 113 shares in the last quarter. First Citizens Bank & Trust Co. lifted its holdings in shares of Chord Energy by 2.3% during the third quarter. First Citizens Bank & Trust Co. now owns 5,306 shares of the company’s stock worth $527,000 after buying an additional 120 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Chord Energy by 18.8% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 822 shares of the company’s stock worth $82,000 after buying an additional 130 shares during the last quarter. WealthCollab LLC raised its stake in shares of Chord Energy by 90.6% in the second quarter. WealthCollab LLC now owns 305 shares of the company’s stock valued at $30,000 after purchasing an additional 145 shares in the last quarter. Finally, PNC Financial Services Group Inc. raised its stake in shares of Chord Energy by 3.8% in the third quarter. PNC Financial Services Group Inc. now owns 4,325 shares of the company’s stock valued at $430,000 after purchasing an additional 157 shares in the last quarter. Institutional investors own 97.76% of the company’s stock.

About Chord Energy

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.