Wells Fargo & Company Cuts Chord Energy (NASDAQ:CHRD) Price Target to $180.00

Chord Energy (NASDAQ:CHRD) had its price target dropped by investment analysts at Wells Fargo & Company from $185.00 to $180.00 in a research note issued to investors on Wednesday, Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Wells Fargo & Company‘s price objective would suggest a potential upside of 40.25% from the company’s previous close.

A number of other analysts also recently commented on the company. Truist Financial reduced their price objective on Chord Energy from $223.00 to $185.00 and set a “buy” rating for the company in a research report on Monday, September 30th. Royal Bank of Canada reiterated an “outperform” rating and set a $200.00 price target on shares of Chord Energy in a research note on Friday, September 20th. Jefferies Financial Group assumed coverage on shares of Chord Energy in a research note on Thursday, September 5th. They issued a “hold” rating and a $160.00 price objective for the company. BMO Capital Markets decreased their target price on shares of Chord Energy from $205.00 to $175.00 and set an “outperform” rating on the stock in a research report on Friday, October 4th. Finally, UBS Group began coverage on shares of Chord Energy in a research report on Wednesday. They issued a “buy” rating and a $168.00 price target for the company. Two investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $190.18.

Chord Energy Stock Performance

CHRD stock traded up $1.84 during midday trading on Wednesday, hitting $128.34. 275,972 shares of the company traded hands, compared to its average volume of 883,041. Chord Energy has a twelve month low of $126.38 and a twelve month high of $190.23. The stock has a market capitalization of $5.35 billion, a price-to-earnings ratio of 6.03, a price-to-earnings-growth ratio of 4.92 and a beta of 0.97. The company has a quick ratio of 0.91, a current ratio of 0.96 and a debt-to-equity ratio of 0.11. The business has a 50 day simple moving average of $140.35 and a 200-day simple moving average of $162.89.

Chord Energy (NASDAQ:CHRD) last posted its quarterly earnings data on Wednesday, August 7th. The company reported $4.69 earnings per share for the quarter, missing the consensus estimate of $5.00 by ($0.31). Chord Energy had a return on equity of 15.06% and a net margin of 20.83%. The business had revenue of $902.70 million for the quarter, compared to analyst estimates of $982.43 million. During the same period in the prior year, the firm posted $3.65 EPS. Chord Energy’s revenue for the quarter was up 29.8% on a year-over-year basis. As a group, equities research analysts predict that Chord Energy will post 17.93 earnings per share for the current year.

Insider Buying and Selling

In other Chord Energy news, Director Samantha Holroyd acquired 500 shares of Chord Energy stock in a transaction on Friday, August 23rd. The shares were bought at an average price of $149.51 per share, with a total value of $74,755.00. Following the completion of the purchase, the director now owns 14,417 shares in the company, valued at $2,155,485.67. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.70% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Arkfeld Wealth Strategies L.L.C. bought a new position in shares of Chord Energy in the third quarter worth about $12,152,000. UMB Bank n.a. boosted its position in Chord Energy by 77.7% in the 3rd quarter. UMB Bank n.a. now owns 231 shares of the company’s stock valued at $30,000 after buying an additional 101 shares during the last quarter. Hexagon Capital Partners LLC increased its stake in shares of Chord Energy by 462.9% in the 3rd quarter. Hexagon Capital Partners LLC now owns 197 shares of the company’s stock valued at $26,000 after buying an additional 162 shares during the period. Insight Wealth Strategies LLC raised its position in shares of Chord Energy by 5.0% during the third quarter. Insight Wealth Strategies LLC now owns 12,347 shares of the company’s stock worth $1,608,000 after acquiring an additional 583 shares during the last quarter. Finally, GAMMA Investing LLC lifted its stake in shares of Chord Energy by 30.6% during the third quarter. GAMMA Investing LLC now owns 414 shares of the company’s stock valued at $54,000 after acquiring an additional 97 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.