UBS Group Has Lowered Expectations for Chord Energy (NASDAQ:CHRD) Stock Price

Chord Energy (NASDAQ:CHRD) had its price objective lowered by equities research analysts at UBS Group from $168.00 to $161.00 in a report released on Monday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. UBS Group’s price target would suggest a potential upside of 36.53% from the company’s current price.

Several other research analysts also recently issued reports on CHRD. Bank of America upped 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. Citigroup decreased their price target on shares of Chord Energy from $195.00 to $180.00 and set a “buy” rating for the company in a research report on Monday, August 12th. BMO Capital Markets cut their price target on shares of Chord Energy from $205.00 to $175.00 and set an “outperform” rating on the stock in a report on Friday, October 4th. Truist Financial decreased their price objective on Chord Energy from $223.00 to $185.00 and set a “buy” rating for the company in a report on Monday, September 30th. Finally, Jefferies Financial Group began coverage on Chord Energy in a report on Thursday, September 5th. They set a “hold” rating and a $160.00 target price on the stock. Two investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Chord Energy has a consensus rating of “Moderate Buy” and an average price target of $187.82.

Chord Energy Price Performance

Shares of NASDAQ:CHRD opened at $117.92 on Monday. The firm has a 50 day simple moving average of $128.75 and a 200 day simple moving average of $147.78. The company has a market cap of $7.21 billion, a price-to-earnings ratio of 6.07, a PEG ratio of 4.70 and a beta of 0.96. Chord Energy has a one year low of $115.96 and a one year high of $190.23. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.93 and a quick ratio of 0.89.

Chord Energy (NASDAQ:CHRD) last released its quarterly earnings data on Wednesday, November 6th. The company reported $3.40 earnings per share for the quarter, missing the consensus estimate of $3.63 by ($0.23). Chord Energy had a net margin of 19.74% and a return on equity of 12.88%. The firm had revenue of $1.12 billion for the quarter, compared to analyst estimates of $1.26 billion. During the same period last year, the business earned $5.04 EPS. The company’s revenue was up 33.4% compared to the same quarter last year. Research analysts predict that Chord Energy will post 16.5 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Chord Energy 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 value of $121,270.00. Following the completion of the sale, the chief accounting officer now directly owns 20,488 shares in the company, valued at approximately $2,484,579.76. This trade represents a 4.65 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.70% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Chord Energy

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Victory Capital Management Inc. raised its stake in Chord Energy by 41.3% during the 3rd quarter. Victory Capital Management Inc. now owns 2,245,435 shares of the company’s stock worth $292,423,000 after buying an additional 656,374 shares during the period. Bank of Montreal Can increased its holdings in shares of Chord Energy by 956.5% during the second quarter. Bank of Montreal Can now owns 58,359 shares of the company’s stock valued at $9,873,000 after acquiring an additional 52,835 shares in the last quarter. Foundry Partners LLC raised its position in shares of Chord Energy by 22.7% during the third quarter. Foundry Partners LLC now owns 52,009 shares of the company’s stock worth $6,773,000 after purchasing an additional 9,613 shares during the period. Caxton Associates LP bought a new position in shares of Chord Energy in the 2nd quarter worth $2,515,000. Finally, Kore Advisors LP acquired a new stake in Chord Energy in the 3rd quarter valued at $4,428,000. 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.