Piper Sandler Increases Chord Energy (NASDAQ:CHRD) Price Target to $230.00

Chord Energy (NASDAQ:CHRD) had its target price boosted by stock analysts at Piper Sandler from $219.00 to $230.00 in a report issued on Friday, Benzinga reports. The firm presently has an “overweight” rating on the stock. Piper Sandler’s price objective would suggest a potential upside of 27.78% from the company’s current price.

Other research analysts also recently issued reports about the company. Mizuho raised their price objective on Chord Energy from $189.00 to $195.00 and gave the stock a “buy” rating in a report on Thursday, March 14th. Bank of America downgraded Chord Energy from a “buy” rating to an “underperform” rating and reduced their price objective for the stock from $177.00 to $165.00 in a report on Friday, January 5th. Stifel Nicolaus raised their price objective on Chord Energy from $178.00 to $211.00 and gave the stock a “buy” rating in a report on Tuesday, February 27th. Finally, Truist Financial reduced their price objective on Chord Energy from $229.00 to $224.00 and set a “buy” rating on the stock in a report on Friday, April 5th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $191.50.

Chord Energy Trading Up 0.8 %

Shares of CHRD stock traded up $1.35 on Friday, reaching $180.00. 226,762 shares of the company’s stock were exchanged, compared to its average volume of 670,393. Chord Energy has a 52 week low of $133.34 and a 52 week high of $190.23. The company has a current ratio of 1.22, a quick ratio of 1.16 and a debt-to-equity ratio of 0.08. The stock has a market capitalization of $7.48 billion, a PE ratio of 7.68 and a beta of 1.06. The company’s fifty day simple moving average is $170.08 and its 200 day simple moving average is $164.39.

Chord Energy (NASDAQ:CHRD) last issued its quarterly earnings results on Wednesday, February 21st. The company reported $5.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.04 by $0.21. Chord Energy had a return on equity of 16.35% and a net margin of 26.27%. The firm had revenue of $964.69 million during the quarter, compared to analyst estimates of $891.67 million. As a group, analysts forecast that Chord Energy will post 21.71 EPS for the current year.

Insider Buying and Selling

In related news, CFO Michael H. Lou sold 3,000 shares of the business’s stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $154.15, for a total transaction of $462,450.00. Following the transaction, the chief financial officer now directly owns 131,209 shares in the company, valued at approximately $20,225,867.35. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 0.70% of the stock is owned by company insiders.

Institutional Trading of Chord Energy

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vest Financial LLC lifted its position in Chord Energy by 36.0% during the 4th quarter. Vest Financial LLC now owns 79,293 shares of the company’s stock worth $13,181,000 after acquiring an additional 20,995 shares during the period. Allspring Global Investments Holdings LLC lifted its holdings in shares of Chord Energy by 12.3% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 491,737 shares of the company’s stock valued at $81,742,000 after buying an additional 53,992 shares during the period. Natixis Advisors L.P. lifted its holdings in shares of Chord Energy by 68.5% in the 3rd quarter. Natixis Advisors L.P. now owns 38,458 shares of the company’s stock valued at $6,233,000 after buying an additional 15,632 shares during the period. Vanguard Group Inc. lifted its holdings in shares of Chord Energy by 0.5% in the 3rd quarter. Vanguard Group Inc. now owns 4,351,393 shares of the company’s stock valued at $705,230,000 after buying an additional 21,034 shares during the period. Finally, Invesco Ltd. lifted its holdings in shares of Chord Energy by 7.9% in the 3rd quarter. Invesco Ltd. now owns 444,627 shares of the company’s stock valued at $72,061,000 after buying an additional 32,429 shares during the period. Institutional investors and hedge funds 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.