Truist Financial Boosts Chord Energy (NASDAQ:CHRD) Price Target to $186.00

Chord Energy (NASDAQ:CHRD) had its price target raised by equities researchers at Truist Financial from $185.00 to $186.00 in a note issued to investors on Monday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Truist Financial’s target price indicates a potential upside of 46.80% from the company’s previous close.

A number of other research firms have also commented on CHRD. Wolfe Research upgraded shares of Chord Energy from a “peer perform” rating to an “outperform” rating and set a $155.00 price objective on the stock in a research note on Friday, January 3rd. Bank of America restated a “neutral” rating and issued a $138.00 price target (down previously from $208.00) on shares of Chord Energy in a research report on Monday. Royal Bank of Canada decreased their price objective on Chord Energy from $185.00 to $180.00 and set an “outperform” rating for the company in a research report on Wednesday, November 20th. Morgan Stanley assumed coverage on Chord Energy in a report on Friday, January 10th. They issued an “equal weight” rating and a $158.00 target price on the stock. Finally, Siebert Williams Shank raised Chord Energy to a “strong-buy” rating in a report on Tuesday, October 15th. Three investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Chord Energy currently has a consensus rating of “Moderate Buy” and an average target price of $173.23.

Chord Energy Trading Up 0.7 %

NASDAQ:CHRD opened at $126.70 on Monday. The company has a market capitalization of $7.75 billion, a PE ratio of 6.52, a P/E/G ratio of 4.79 and a beta of 0.99. Chord Energy has a 52-week low of $109.59 and a 52-week high of $190.23. The stock’s 50 day moving average price is $122.60 and its 200 day moving average price is $138.36. The company has a quick ratio of 0.89, a current ratio of 0.93 and a debt-to-equity ratio of 0.10.

Chord Energy (NASDAQ:CHRD) last announced its earnings results on Wednesday, November 6th. The company reported $3.40 earnings per share (EPS) 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 business had revenue of $1.12 billion for the quarter, compared to analysts’ expectations of $1.26 billion. During the same quarter last year, the business posted $5.04 earnings per share. The business’s revenue was up 33.4% on a year-over-year basis. On average, research analysts anticipate that Chord Energy will post 16.5 EPS for the current year.

Insider Activity at Chord Energy

In other Chord Energy news, CAO Shannon Browning Kinney sold 1,000 shares of the business’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $116.35, for a total transaction of $116,350.00. Following the sale, the chief accounting officer now directly owns 19,488 shares in the company, valued at approximately $2,267,428.80. The trade was a 4.88 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.70% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. Ashton Thomas Private Wealth LLC acquired a new stake in Chord Energy in the 2nd quarter valued at about $40,000. Choreo LLC purchased a new stake in shares of Chord Energy in the second quarter valued at about $534,000. Daiwa Securities Group Inc. acquired a new stake in shares of Chord Energy in the second quarter valued at approximately $738,000. State of New Jersey Common Pension Fund D increased its stake in shares of Chord Energy by 3.6% during the 2nd quarter. State of New Jersey Common Pension Fund D now owns 18,066 shares of the company’s stock worth $3,029,000 after purchasing an additional 624 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale raised its position in shares of Chord Energy by 757.1% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 3,557 shares of the company’s stock worth $590,000 after purchasing an additional 3,142 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.