Chord Energy (NASDAQ:CHRD) Price Target Cut to $184.00 by Analysts at Piper Sandler

Chord Energy (NASDAQ:CHRD) had its price target reduced by Piper Sandler from $193.00 to $184.00 in a research report issued on Thursday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Piper Sandler’s target price indicates a potential upside of 81.57% from the stock’s current price.

A number of other equities research analysts have also weighed in on the company. Royal Bank of Canada reduced their price objective on Chord Energy from $185.00 to $180.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 20th. Morgan Stanley started coverage on Chord Energy in a report on Friday, January 10th. They set an “equal weight” rating and a $158.00 price target on the stock. Truist Financial increased their price objective on Chord Energy from $185.00 to $186.00 and gave the company a “buy” rating in a report on Monday, January 13th. Citigroup cut their target price on Chord Energy from $160.00 to $135.00 and set a “buy” rating on the stock in a report on Tuesday. Finally, Wolfe Research raised Chord Energy from a “peer perform” rating to an “outperform” rating and set a $155.00 price target for the company in a research note on Friday, January 3rd. Three investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $165.42.

Chord Energy Stock Performance

Shares of Chord Energy stock opened at $101.34 on Thursday. The company’s 50 day moving average price is $115.91 and its two-hundred day moving average price is $125.57. The firm has a market capitalization of $6.19 billion, a P/E ratio of 5.22, a P/E/G ratio of 5.83 and a beta of 0.98. Chord Energy has a fifty-two week low of $99.40 and a fifty-two week high of $190.23. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.93 and a quick ratio of 0.89.

Insider Transactions at Chord Energy

In other news, CAO Shannon Browning Kinney sold 1,000 shares of the stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $116.35, for a total transaction of $116,350.00. Following the transaction, the chief accounting officer now owns 19,488 shares of the company’s stock, valued at $2,267,428.80. This represents a 4.88 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.70% of the company’s stock.

Institutional Trading of Chord Energy

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Stone House Investment Management LLC bought a new position in shares of Chord Energy in the 3rd quarter worth $26,000. Altshuler Shaham Ltd bought a new stake in Chord Energy during the 4th quarter worth approximately $25,000. Brooklyn Investment Group purchased a new stake in shares of Chord Energy in the fourth quarter worth approximately $29,000. Twin Tree Management LP purchased a new stake in Chord Energy in the 4th quarter valued at $33,000. Finally, Larson Financial Group LLC lifted its position in shares of Chord Energy by 238.3% during the fourth quarter. Larson Financial Group LLC now owns 318 shares of the company’s stock valued at $37,000 after purchasing an additional 224 shares in the last quarter. 97.76% of the stock is owned by institutional investors.

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.