Wells Fargo & Company Boosts Chord Energy (NASDAQ:CHRD) Price Target to $176.00

Chord Energy (NASDAQ:CHRD) had its price objective increased by research analysts at Wells Fargo & Company from $175.00 to $176.00 in a report released on Tuesday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Wells Fargo & Company‘s target price suggests a potential upside of 57.79% from the stock’s current price.

Several other equities analysts have also recently issued reports on the company. Siebert Williams Shank upgraded Chord Energy to a “strong-buy” rating in a research note on Tuesday, October 15th. Royal Bank of Canada cut their price target on shares of Chord Energy from $185.00 to $180.00 and set an “outperform” rating for the company in a report on Wednesday, November 20th. Piper Sandler increased their price objective on Chord Energy from $211.00 to $212.00 and gave the company an “overweight” rating in a research note on Monday, November 18th. BMO Capital Markets decreased their target price on shares of Chord Energy from $205.00 to $175.00 and set an “outperform” rating on the stock in a research report on Friday, October 4th. Finally, Jefferies Financial Group initiated coverage on Chord Energy in a research report on Thursday, September 5th. They set a “hold” rating and a $160.00 price target on the stock. Two analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $182.55.

Chord Energy Trading Down 3.1 %

NASDAQ CHRD opened at $111.54 on Tuesday. Chord Energy has a one year low of $111.50 and a one year high of $190.23. The company’s 50-day simple moving average is $127.08 and its two-hundred day simple moving average is $145.54. The company has a market capitalization of $6.82 billion, a price-to-earnings ratio of 5.74, a price-to-earnings-growth ratio of 4.79 and a beta of 0.96. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.89 and a current ratio of 0.93.

Chord Energy (NASDAQ:CHRD) last released its quarterly earnings data on Wednesday, November 6th. The company reported $3.40 EPS for the quarter, missing the consensus estimate of $3.63 by ($0.23). The company had revenue of $1.12 billion during the quarter, compared to analysts’ expectations of $1.26 billion. Chord Energy had a return on equity of 12.88% and a net margin of 19.74%. The company’s revenue for the quarter was up 33.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $5.04 EPS. Equities analysts forecast that Chord Energy will post 16.5 EPS for the current fiscal year.

Insider Activity

In other news, CAO Shannon Browning Kinney sold 1,000 shares of the firm’s stock in a transaction on Monday, December 9th. The shares were sold at an average price of $121.27, for a total transaction of $121,270.00. Following the sale, the chief accounting officer now owns 20,488 shares in the company, valued at approximately $2,484,579.76. This trade represents a 4.65 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.70% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Chord Energy

Large investors have recently modified their holdings of the stock. Hexagon Capital Partners LLC grew its holdings in shares of Chord Energy by 462.9% during the third quarter. Hexagon Capital Partners LLC now owns 197 shares of the company’s stock valued at $26,000 after buying an additional 162 shares during the last quarter. Stone House Investment Management LLC bought a new stake in Chord Energy during the 3rd quarter valued at approximately $26,000. UMB Bank n.a. grew its holdings in shares of Chord Energy by 77.7% in the third quarter. UMB Bank n.a. now owns 231 shares of the company’s stock valued at $30,000 after purchasing an additional 101 shares in the last quarter. Spartan Fund Management Inc. purchased a new stake in shares of Chord Energy in the third quarter valued at $34,000. Finally, Ashton Thomas Private Wealth LLC bought a new stake in shares of Chord Energy during the second quarter worth $40,000. Institutional investors own 97.76% of the company’s stock.

About Chord Energy

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.