Citigroup Initiates Coverage on Chord Energy (NASDAQ:CHRD)

Investment analysts at Citigroup started coverage on shares of Chord Energy (NASDAQ:CHRD) in a research report issued to clients and investors on Monday, MarketBeat reports. The brokerage set a “buy” rating and a $195.00 price target on the stock. Citigroup’s price target would suggest a potential upside of 14.11% from the company’s previous close.

Several other equities analysts have also recently weighed in on CHRD. Bank of America reaffirmed a “buy” rating and set a $201.00 target price on shares of Chord Energy in a research note on Friday, June 14th. Truist Financial lowered their target price on Chord Energy from $228.00 to $226.00 and set a “buy” rating on the stock in a research note on Monday, June 3rd. BMO Capital Markets assumed coverage on Chord Energy in a research note on Monday, June 3rd. They issued an “outperform” rating and a $230.00 price target for the company. Mizuho boosted their price target on Chord Energy from $195.00 to $214.00 and gave the company a “buy” rating in a research note on Monday, May 13th. Finally, Royal Bank of Canada boosted their price target on Chord Energy from $180.00 to $200.00 and gave the company an “outperform” rating in a research note on Monday, April 29th. One investment analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $205.00.

Chord Energy Trading Up 0.7 %

NASDAQ:CHRD opened at $170.89 on Monday. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.14 and a quick ratio of 1.07. Chord Energy has a fifty-two week low of $145.06 and a fifty-two week high of $190.23. The stock’s 50-day moving average is $175.14 and its two-hundred day moving average is $169.16. The stock has a market cap of $7.12 billion, a PE ratio of 8.02, a price-to-earnings-growth ratio of 0.87 and a beta of 1.01.

Chord Energy (NASDAQ:CHRD) last released its earnings results on Tuesday, May 7th. The company reported $5.10 earnings per share for the quarter, beating the consensus estimate of $4.75 by $0.35. Chord Energy had a return on equity of 16.57% and a net margin of 22.67%. The company had revenue of $1.09 billion for the quarter, compared to analysts’ expectations of $771.87 million. During the same quarter in the previous year, the business posted $4.50 EPS. The business’s revenue for the quarter was up 24.8% on a year-over-year basis. As a group, equities research analysts forecast that Chord Energy will post 22.27 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Chord Energy

A number of large investors have recently added to or reduced their stakes in the stock. Xponance Inc. boosted its position in Chord Energy by 1.3% during the fourth quarter. Xponance Inc. now owns 6,070 shares of the company’s stock worth $1,009,000 after purchasing an additional 77 shares during the period. Contravisory Investment Management Inc. boosted its position in Chord Energy by 48.9% during the fourth quarter. Contravisory Investment Management Inc. now owns 259 shares of the company’s stock worth $43,000 after purchasing an additional 85 shares during the period. Fortem Financial Group LLC boosted its position in Chord Energy by 1.6% during the first quarter. Fortem Financial Group LLC now owns 5,958 shares of the company’s stock worth $1,062,000 after purchasing an additional 91 shares during the period. Viking Fund Management LLC lifted its holdings in shares of Chord Energy by 40.0% during the fourth quarter. Viking Fund Management LLC now owns 350 shares of the company’s stock worth $58,000 after buying an additional 100 shares during the last quarter. Finally, New York State Teachers Retirement System lifted its holdings in shares of Chord Energy by 0.6% during the first quarter. New York State Teachers Retirement System now owns 15,792 shares of the company’s stock worth $2,815,000 after buying an additional 100 shares during the last quarter. Institutional investors own 97.76% of the company’s stock.

Chord Energy Company Profile

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.