Chord Energy (NASDAQ:CHRD) Earns Buy Rating from Analysts at Citigroup

Stock analysts at Citigroup initiated coverage on shares of Chord Energy (NASDAQ:CHRD) in a note issued to investors on Monday, StockNewsAPI reports. The brokerage set a “buy” rating and a $195.00 price target on the stock. Citigroup’s price target indicates a potential upside of 16.29% from the company’s previous close.

Other equities analysts also recently issued reports about the stock. Piper Sandler boosted their target price on shares of Chord Energy from $231.00 to $233.00 and gave the stock an “overweight” rating in a report on Friday, May 24th. Mizuho boosted their price objective on shares of Chord Energy from $195.00 to $214.00 and gave the stock a “buy” rating in a research note on Monday, May 13th. Truist Financial dropped their target price on shares of Chord Energy from $228.00 to $226.00 and set a “buy” rating on the stock in a report on Monday, June 3rd. BMO Capital Markets initiated coverage on Chord Energy in a research report on Monday, June 3rd. They set an “outperform” rating and a $230.00 price target on the stock. Finally, Royal Bank of Canada upped their price objective 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 data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $205.00.

Chord Energy Trading Up 0.3 %

Chord Energy stock opened at $167.68 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. The firm has a 50-day moving average of $175.63 and a 200-day moving average of $169.07. The company has a market cap of $6.99 billion, a price-to-earnings ratio of 7.87, a P/E/G ratio of 0.87 and a beta of 1.01. Chord Energy has a one year low of $145.06 and a one year high of $190.23.

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

Hedge Funds Weigh In On Chord Energy

Large investors have recently made changes to their positions in the company. Mariner LLC boosted its holdings in Chord Energy by 148.5% in the 3rd quarter. Mariner LLC now owns 5,656 shares of the company’s stock valued at $917,000 after purchasing an additional 3,380 shares during the period. Stifel Financial Corp boosted its stake in shares of Chord Energy by 10.2% in the third quarter. Stifel Financial Corp now owns 22,784 shares of the company’s stock valued at $3,693,000 after buying an additional 2,102 shares during the period. Tower Research Capital LLC TRC grew its position in Chord Energy by 66.2% during the third quarter. Tower Research Capital LLC TRC now owns 2,717 shares of the company’s stock worth $440,000 after buying an additional 1,082 shares in the last quarter. AXQ Capital LP acquired a new stake in Chord Energy during the third quarter worth approximately $357,000. Finally, Alps Advisors Inc. bought a new position in Chord Energy during the 3rd quarter worth $347,000. 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.