Wolfe Research Upgrades Chord Energy (NASDAQ:CHRD) to Outperform

Chord Energy (NASDAQ:CHRD) was upgraded by research analysts at Wolfe Research from a “peer perform” rating to an “outperform” rating in a note issued to investors on Friday, MarketBeat.com reports. The firm currently has a $155.00 price objective on the stock. Wolfe Research’s price target would suggest a potential upside of 28.15% from the stock’s current price.

A number of other equities analysts have also weighed in on the company. Siebert Williams Shank raised Chord Energy to a “strong-buy” rating in a research report on Tuesday, October 15th. Jefferies Financial Group assumed coverage on Chord Energy in a research note on Thursday, September 5th. They set a “hold” rating and a $160.00 price target for the company. Truist Financial dropped their price objective on shares of Chord Energy from $223.00 to $185.00 and set a “buy” rating on the stock in a report on Monday, September 30th. BMO Capital Markets reduced their target price on shares of Chord Energy from $205.00 to $175.00 and set an “outperform” rating for the company in a report on Friday, October 4th. Finally, UBS Group dropped their price target on shares of Chord Energy from $168.00 to $161.00 and set a “buy” rating on the stock in a research note on Monday, December 9th. One equities research analyst has rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $180.25.

Chord Energy Stock Up 1.7 %

NASDAQ:CHRD opened at $120.95 on Friday. The firm has a 50-day simple moving average of $122.86 and a two-hundred day simple moving average of $140.86. The firm has a market cap of $7.39 billion, a P/E ratio of 6.23, a P/E/G ratio of 4.79 and a beta of 0.96. Chord Energy has a fifty-two week low of $109.59 and a fifty-two week high of $190.23. 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 announced its quarterly earnings data on Wednesday, November 6th. The company reported $3.40 earnings per share for the quarter, missing analysts’ consensus estimates of $3.63 by ($0.23). Chord Energy had a return on equity of 12.88% and a net margin of 19.74%. The firm had revenue of $1.12 billion during the quarter, compared to analysts’ expectations of $1.26 billion. During the same quarter in the previous year, the firm earned $5.04 earnings per share. Chord Energy’s revenue was up 33.4% on a year-over-year basis. Analysts predict that Chord Energy will post 16.5 earnings per share for the current fiscal year.

Insider Activity

In related news, CAO Shannon Browning Kinney sold 1,000 shares of the firm’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $116.35, for a total transaction of $116,350.00. Following the completion of the transaction, the chief accounting officer now directly owns 19,488 shares of the company’s stock, valued at approximately $2,267,428.80. This trade represents a 4.88 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.70% of the company’s stock.

Institutional Trading of Chord Energy

Several hedge funds have recently bought and sold shares of the stock. Hexagon Capital Partners LLC increased its holdings in shares of Chord Energy by 462.9% in the third quarter. Hexagon Capital Partners LLC now owns 197 shares of the company’s stock worth $26,000 after purchasing an additional 162 shares during the last quarter. Stone House Investment Management LLC purchased a new stake in shares of Chord Energy during the 3rd quarter worth approximately $26,000. UMB Bank n.a. boosted its position in shares of Chord Energy by 77.7% during the 3rd quarter. UMB Bank n.a. now owns 231 shares of the company’s stock valued at $30,000 after acquiring an additional 101 shares during the last quarter. Spartan Fund Management Inc. purchased a new position in shares of Chord Energy in the third quarter valued at $34,000. Finally, Ashton Thomas Private Wealth LLC bought a new stake in Chord Energy in the second quarter worth $40,000. Hedge funds and other 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.