Chord Energy (NASDAQ:CHRD) Stock Price Expected to Rise, Piper Sandler Analyst Says

Chord Energy (NASDAQ:CHRD) had its price objective lifted by analysts at Piper Sandler from $211.00 to $212.00 in a note issued to investors on Monday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Piper Sandler’s price objective suggests a potential upside of 65.66% from the company’s current price.

A number of other equities analysts have also recently weighed in on CHRD. UBS Group started coverage on Chord Energy in a research note on Wednesday, October 16th. They issued a “buy” rating and a $168.00 price target on the stock. Siebert Williams Shank raised Chord Energy to a “strong-buy” rating in a research note on Tuesday, October 15th. BMO Capital Markets lowered their target price on Chord Energy from $205.00 to $175.00 and set an “outperform” rating on the stock in a research note on Friday, October 4th. Bank of America upped their target price on Chord Energy from $201.00 to $208.00 and gave the company a “buy” rating in a report on Wednesday, August 21st. Finally, Truist Financial dropped their target price on Chord Energy from $223.00 to $185.00 and set a “buy” rating on the stock in a report on Monday, September 30th. Two investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $190.27.

Chord Energy Trading Down 1.8 %

Shares of CHRD opened at $127.97 on Monday. The business’s 50-day moving average price is $131.06 and its 200 day moving average price is $153.49. The stock has a market capitalization of $7.82 billion, a P/E ratio of 6.59, a P/E/G ratio of 5.02 and a beta of 0.98. Chord Energy has a 1-year low of $123.30 and a 1-year high of $190.23. The company has a current ratio of 0.93, a quick ratio of 0.89 and a debt-to-equity ratio of 0.10.

Chord Energy (NASDAQ:CHRD) last issued its quarterly earnings results 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). 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% compared to the same quarter last year. During the same period in the prior year, the business posted $5.04 EPS. Analysts expect that Chord Energy will post 16.8 earnings per share for the current year.

Insider Activity at Chord Energy

In other news, Director Samantha Holroyd purchased 500 shares of the stock in a transaction that occurred on Friday, August 23rd. The stock was acquired at an average price 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. This represents a 3.59 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.70% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Chord Energy

Several large investors have recently made changes to their positions in the company. Victory Capital Management Inc. boosted its position 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 period. Pacer Advisors Inc. boosted its position in Chord Energy by 8,762.1% during the third quarter. Pacer Advisors Inc. now owns 1,245,034 shares of the company’s stock worth $162,141,000 after purchasing an additional 1,230,985 shares during the period. Dimensional Fund Advisors LP boosted its position in Chord Energy by 72.0% during the second quarter. Dimensional Fund Advisors LP now owns 1,771,780 shares of the company’s stock worth $297,090,000 after purchasing an additional 741,705 shares during the period. Boston Partners boosted its position in Chord Energy by 107.0% during the first 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, Point72 Asset Management L.P. boosted its position in Chord Energy by 143.8% during the third quarter. Point72 Asset Management L.P. now owns 880,787 shares of the company’s stock worth $114,705,000 after purchasing an additional 519,547 shares during the period. 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.