Chord Energy (NASDAQ:CHRD) Rating Reiterated by Royal Bank of Canada

Chord Energy (NASDAQ:CHRD)‘s stock had its “outperform” rating reiterated by equities researchers at Royal Bank of Canada in a research note issued on Friday, Benzinga reports. They currently have a $200.00 target price on the stock. Royal Bank of Canada’s price objective would indicate a potential upside of 46.27% from the stock’s current price.

Other research analysts have also recently issued research reports about the stock. Truist Financial lowered their price target on shares of Chord Energy from $226.00 to $223.00 and set a “buy” rating for the company in a report on Monday, July 22nd. Citigroup reduced their price objective on shares of Chord Energy from $195.00 to $180.00 and set a “buy” rating for the company in a research report on Monday, August 12th. Jefferies Financial Group began coverage on shares of Chord Energy in a research report on Thursday, September 5th. They set a “hold” rating and a $160.00 price objective for the company. Piper Sandler reduced their price objective on shares of Chord Energy from $234.00 to $206.00 and set an “overweight” rating for the company in a research report on Thursday, August 15th. Finally, Bank of America boosted their price objective on shares of Chord Energy from $201.00 to $208.00 and gave the stock a “buy” rating in a research report on Wednesday, August 21st. Two equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, Chord Energy currently has a consensus rating of “Moderate Buy” and an average price target of $202.10.

Chord Energy Trading Up 0.3 %

NASDAQ CHRD opened at $136.73 on Friday. The company has a quick ratio of 0.91, a current ratio of 0.96 and a debt-to-equity ratio of 0.11. Chord Energy has a 52 week low of $129.75 and a 52 week high of $190.23. The stock has a market capitalization of $5.70 billion, a PE ratio of 6.42, a price-to-earnings-growth ratio of 4.48 and a beta of 0.99. The firm has a 50 day moving average of $152.80 and a two-hundred day moving average of $167.18.

Chord Energy (NASDAQ:CHRD) last posted its quarterly earnings results on Wednesday, August 7th. The company reported $4.69 EPS for the quarter, missing the consensus estimate of $5.00 by ($0.31). Chord Energy had a return on equity of 15.06% and a net margin of 20.83%. The firm had revenue of $902.70 million for the quarter, compared to analyst estimates of $982.43 million. During the same quarter last year, the firm earned $3.65 EPS. The company’s revenue was up 29.8% on a year-over-year basis. As a group, research analysts expect that Chord Energy will post 19.67 EPS for the current fiscal year.

Insider Activity at Chord Energy

In other Chord Energy news, Director Samantha Holroyd purchased 500 shares of Chord Energy stock in a transaction that occurred on Friday, August 23rd. The stock was purchased at an average price of $149.51 per share, for a total transaction of $74,755.00. Following the transaction, the director now directly owns 14,417 shares in the company, valued at $2,155,485.67. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.70% of the stock is owned by insiders.

Hedge Funds Weigh In On Chord Energy

Several institutional investors have recently bought and sold shares of CHRD. Victory Capital Management Inc. increased its stake in Chord Energy by 397.5% in the 2nd quarter. Victory Capital Management Inc. now owns 1,589,061 shares of the company’s stock valued at $266,454,000 after buying an additional 1,269,658 shares during the period. Dimensional Fund Advisors LP increased its stake in Chord Energy by 72.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,771,780 shares of the company’s stock valued at $297,090,000 after buying an additional 741,705 shares during the period. Boston Partners increased its stake in Chord Energy by 107.0% in the 1st quarter. Boston Partners now owns 1,305,942 shares of the company’s stock valued at $232,813,000 after buying an additional 674,965 shares during the period. Millennium Management LLC grew its stake in shares of Chord Energy by 226.5% during the 2nd quarter. Millennium Management LLC now owns 696,488 shares of the company’s stock worth $116,787,000 after purchasing an additional 483,144 shares during the period. Finally, KGH Ltd grew its stake in shares of Chord Energy by 872.0% during the 2nd quarter. KGH Ltd now owns 485,998 shares of the company’s stock worth $81,492,000 after purchasing an additional 435,998 shares during the period. 97.76% of the stock is owned by institutional investors and hedge funds.

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.