Truist Financial Forecasts Strong Price Appreciation for Chord Energy (NASDAQ:CHRD) Stock

Chord Energy (NASDAQ:CHRD) had its price target increased by equities researchers at Truist Financial from $185.00 to $186.00 in a report released on Monday,Benzinga reports. The firm presently has a “buy” rating on the stock. Truist Financial’s price objective would indicate a potential upside of 50.27% from the company’s previous close.

Several other research analysts have also commented on CHRD. Mizuho dropped their price target on shares of Chord Energy from $192.00 to $178.00 and set an “outperform” rating on the stock in a research note on Monday, December 16th. Royal Bank of Canada cut their target price on Chord Energy from $185.00 to $180.00 and set an “outperform” rating on the stock in a report on Wednesday, November 20th. BMO Capital Markets lowered their price objective on Chord Energy from $205.00 to $175.00 and set an “outperform” rating on the stock in a report on Friday, October 4th. Siebert Williams Shank upgraded Chord Energy to a “strong-buy” rating in a report on Tuesday, October 15th. Finally, Wolfe Research upgraded Chord Energy from a “peer perform” rating to an “outperform” rating and set a $155.00 price target on the stock in a report on Friday, January 3rd. Three research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $173.23.

Chord Energy Trading Up 1.0 %

Shares of NASDAQ:CHRD opened at $123.78 on Monday. The firm has a fifty day moving average of $122.59 and a two-hundred day moving average of $139.13. 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 has a 12-month low of $109.59 and a 12-month high of $190.23. The firm has a market capitalization of $7.57 billion, a P/E ratio of 6.37, a price-to-earnings-growth ratio of 4.79 and a beta of 0.99.

Chord Energy (NASDAQ:CHRD) last issued its earnings results on Wednesday, November 6th. The company reported $3.40 EPS for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $1.26 billion. During the same quarter last year, the firm earned $5.04 EPS. The business’s revenue for the quarter was up 33.4% compared to the same quarter last year. On average, equities analysts expect that Chord Energy will post 16.5 EPS for the current fiscal year.

Insider Activity

In other news, CAO Shannon Browning Kinney sold 1,000 shares of the stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $116.35, for a total value of $116,350.00. Following the completion of the transaction, the chief accounting officer now directly owns 19,488 shares of the company’s stock, valued at approximately $2,267,428.80. This represents a 4.88 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.70% of the stock is currently owned by company insiders.

Institutional Trading of Chord Energy

Institutional investors have recently bought and sold shares of the stock. Victory Capital Management Inc. boosted its stake in shares of Chord Energy by 41.3% in the 3rd quarter. Victory Capital Management Inc. now owns 2,245,435 shares of the company’s stock valued at $292,423,000 after purchasing an additional 656,374 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Chord Energy by 3.0% in the third quarter. Geode Capital Management LLC now owns 1,162,442 shares of the company’s stock valued at $151,077,000 after acquiring an additional 34,156 shares during the last quarter. Bank of Montreal Can boosted its holdings in shares of Chord Energy by 956.5% in the 2nd quarter. Bank of Montreal Can now owns 58,359 shares of the company’s stock worth $9,873,000 after acquiring an additional 52,835 shares in the last quarter. Foundry Partners LLC increased its holdings in Chord Energy by 22.7% during the 3rd quarter. Foundry Partners LLC now owns 52,009 shares of the company’s stock valued at $6,773,000 after purchasing an additional 9,613 shares in the last quarter. Finally, Caxton Associates LP bought a new position in Chord Energy in the 2nd quarter valued at $2,515,000. 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.