Chord Energy’s (CHRD) Outperform Rating Reaffirmed at Royal Bank of Canada

Chord Energy (NASDAQ:CHRD)‘s stock had its “outperform” rating reiterated by analysts at Royal Bank of Canada in a research note issued to investors on Friday, Benzinga reports. They currently have a $200.00 price target on the stock. Royal Bank of Canada’s target price points to a potential upside of 46.93% from the company’s current price.

CHRD has been the topic of several other reports. Piper Sandler cut their price target on Chord Energy from $234.00 to $206.00 and set an “overweight” rating on the stock in a research report on Thursday, August 15th. Wolfe Research assumed coverage on shares of Chord Energy in a research note on Thursday, July 18th. They issued a “peer perform” rating for the company. Jefferies Financial Group started coverage on Chord Energy in a report on Thursday, September 5th. They issued a “hold” rating and a $160.00 target price on the stock. BMO Capital Markets started coverage on shares of Chord Energy in a research report on Monday, June 3rd. They set an “outperform” rating and a $230.00 price objective for the company. Finally, Bank of America boosted their price objective on Chord Energy from $201.00 to $208.00 and gave the company a “buy” rating in a research note on Wednesday, August 21st. Two analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $202.10.

Chord Energy Price Performance

Shares of NASDAQ CHRD traded down $0.22 during midday trading on Friday, reaching $136.12. 87,183 shares of the stock traded hands, compared to its average volume of 881,765. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.96 and a quick ratio of 0.91. Chord Energy has a one year low of $129.75 and a one year high of $190.23. The stock has a market capitalization of $5.68 billion, a PE ratio of 6.37, a P/E/G ratio of 4.48 and a beta of 0.99. The company’s 50 day moving average is $153.51 and its 200 day moving average is $167.31.

Chord Energy (NASDAQ:CHRD) last released its quarterly earnings data on Wednesday, August 7th. The company reported $4.69 EPS for the quarter, missing the consensus estimate of $5.00 by ($0.31). The firm had revenue of $902.70 million for the quarter, compared to analysts’ expectations of $982.43 million. Chord Energy had a return on equity of 15.06% and a net margin of 20.83%. The company’s revenue for the quarter was up 29.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $3.65 earnings per share. On average, equities research analysts anticipate that Chord Energy will post 19.67 earnings per share for the current year.

Insider Buying and Selling

In other Chord Energy news, Director Samantha Holroyd purchased 500 shares of the firm’s stock in a transaction on Friday, August 23rd. The shares were purchased at an average cost of $149.51 per share, with a total value of $74,755.00. Following the purchase, the director now owns 14,417 shares in the company, valued at $2,155,485.67. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.70% of the company’s stock.

Institutional Investors Weigh In On Chord Energy

A number of institutional investors have recently added to or reduced their stakes in CHRD. Dimensional Fund Advisors LP grew its stake in shares of Chord Energy by 72.0% in the second 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 in the last quarter. Victory Capital Management Inc. lifted its stake in Chord Energy by 397.5% during the second quarter. Victory Capital Management Inc. now owns 1,589,061 shares of the company’s stock worth $266,454,000 after purchasing an additional 1,269,658 shares during the last quarter. First Trust Advisors LP grew its position in shares of Chord Energy by 11.0% during the 4th quarter. First Trust Advisors LP now owns 1,402,359 shares of the company’s stock valued at $233,114,000 after buying an additional 138,957 shares during the last quarter. Boston Partners raised its position in shares of Chord Energy by 107.0% during the 1st quarter. Boston Partners now owns 1,305,942 shares of the company’s stock worth $232,813,000 after purchasing an additional 674,965 shares during the period. Finally, American Century Companies Inc. lifted its stake in Chord Energy by 13.2% in the second quarter. American Century Companies Inc. now owns 971,982 shares of the company’s stock valued at $162,982,000 after buying an additional 113,618 shares during the last quarter. 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.