Chord Energy Corporation (NASDAQ:CHRD) Receives $124.67 Consensus Target Price from Brokerages

Shares of Chord Energy Corporation (NASDAQ:CHRD) have been given an average recommendation of “Moderate Buy” by the fourteen ratings firms that are currently covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have assigned a buy rating to the company. The average 12-month price objective among analysts that have covered the stock in the last year is $123.9167.

CHRD has been the topic of a number of recent analyst reports. Wells Fargo & Company dropped their price objective on Chord Energy from $113.00 to $109.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 27th. Zacks Research downgraded Chord Energy from a “hold” rating to a “strong sell” rating in a report on Tuesday, January 20th. UBS Group dropped their price target on Chord Energy from $123.00 to $119.00 and set a “buy” rating on the stock in a research note on Friday, January 9th. William Blair initiated coverage on shares of Chord Energy in a research report on Friday, November 21st. They set an “outperform” rating for the company. Finally, Jefferies Financial Group set a $99.00 price objective on shares of Chord Energy in a research note on Saturday, January 17th.

Hedge Funds Weigh In On Chord Energy

Institutional investors have recently made changes to their positions in the stock. Victory Capital Management Inc. increased its position in Chord Energy by 5.4% in the 3rd quarter. Victory Capital Management Inc. now owns 3,166,564 shares of the company’s stock valued at $314,661,000 after buying an additional 163,125 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Chord Energy by 15.6% in the fourth quarter. Geode Capital Management LLC now owns 2,053,045 shares of the company’s stock worth $190,346,000 after acquiring an additional 277,588 shares in the last quarter. Wellington Management Group LLP grew its stake in Chord Energy by 19.9% in the third quarter. Wellington Management Group LLP now owns 1,705,153 shares of the company’s stock valued at $169,441,000 after acquiring an additional 282,746 shares during the period. American Century Companies Inc. grew its stake in Chord Energy by 15.5% in the second quarter. American Century Companies Inc. now owns 1,337,079 shares of the company’s stock valued at $129,496,000 after acquiring an additional 179,209 shares during the period. Finally, Dimensional Fund Advisors LP increased its holdings in shares of Chord Energy by 85.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,218,167 shares of the company’s stock valued at $112,927,000 after acquiring an additional 561,899 shares in the last quarter. Institutional investors and hedge funds own 97.76% of the company’s stock.

Chord Energy Price Performance

CHRD stock opened at $102.02 on Friday. The company has a quick ratio of 1.28, a current ratio of 1.35 and a debt-to-equity ratio of 0.18. The firm has a market cap of $5.80 billion, a price-to-earnings ratio of 39.24 and a beta of 0.92. The company’s fifty day simple moving average is $95.14 and its 200 day simple moving average is $97.23. Chord Energy has a 12-month low of $79.83 and a 12-month high of $116.09.

About Chord Energy

Chord Energy Corporation (NASDAQ: CHRD), formerly known as Oasis Petroleum Inc, is an independent exploration and production company focused on the acquisition, development and production of crude oil, natural gas and natural gas liquids. Headquartered in Houston, Texas, Chord Energy emerged from financial restructuring in early 2021 and rebranded in October 2022 to reflect its renewed strategic vision.

The company’s core operations are concentrated in two prolific U.S. resource plays: the Williston Basin across North Dakota and Montana, and the Delaware Basin spanning parts of West Texas and southeastern New Mexico.