Piper Sandler Boosts Chord Energy (NASDAQ:CHRD) Price Target to $190.00

Chord Energy (NASDAQ:CHRD) had its price target upped by equities researchers at Piper Sandler from $158.00 to $190.00 in a report released on Thursday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Piper Sandler’s price target would indicate a potential upside of 51.16% from the company’s current price.

A number of other brokerages have also recently weighed in on CHRD. Wells Fargo & Company reduced their price target on Chord Energy from $113.00 to $109.00 and set an “overweight” rating for the company in a research report on Tuesday, January 27th. Weiss Ratings downgraded Chord Energy from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Monday, March 2nd. Zacks Research upgraded Chord Energy from a “strong sell” rating to a “hold” rating in a report on Friday, March 6th. William Blair initiated coverage on Chord Energy in a report on Friday, November 21st. They set an “outperform” rating on the stock. Finally, Royal Bank Of Canada dropped their price target on shares of Chord Energy from $135.00 to $128.00 and set an “outperform” rating on the stock in a research report on Tuesday, January 13th. Eight equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Chord Energy has an average rating of “Moderate Buy” and a consensus price target of $128.82.

Chord Energy Stock Up 0.7%

CHRD stock traded up $0.89 during trading hours on Thursday, hitting $125.69. The company’s stock had a trading volume of 868,754 shares, compared to its average volume of 973,468. The stock has a 50 day moving average price of $101.22 and a two-hundred day moving average price of $97.97. Chord Energy has a 12 month low of $79.83 and a 12 month high of $127.56. The company has a market capitalization of $7.14 billion, a PE ratio of 199.90 and a beta of 0.84. The company has a quick ratio of 0.98, a current ratio of 1.06 and a debt-to-equity ratio of 0.18.

Chord Energy (NASDAQ:CHRD) last released its quarterly earnings data on Wednesday, February 25th. The company reported $1.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.17 by $0.11. The business had revenue of $1.17 billion during the quarter, compared to analyst estimates of $1.03 billion. Chord Energy had a net margin of 0.91% and a return on equity of 6.71%. Chord Energy’s quarterly revenue was down 19.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $3.49 EPS. On average, equities research analysts expect that Chord Energy will post 15.59 earnings per share for the current year.

Insider Buying and Selling at Chord Energy

In other news, CAO Lara J. Kroll sold 5,000 shares of the stock in a transaction that occurred on Tuesday, March 3rd. The stock was sold at an average price of $113.66, for a total value of $568,300.00. Following the completion of the sale, the chief accounting officer directly owned 8,921 shares of the company’s stock, valued at approximately $1,013,960.86. This represents a 35.92% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Shannon Browning Kinney sold 1,801 shares of the firm’s stock in a transaction on Tuesday, March 3rd. The stock was sold at an average price of $114.36, for a total transaction of $205,962.36. Following the completion of the sale, the executive vice president owned 20,188 shares in the company, valued at approximately $2,308,699.68. The trade was a 8.19% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 8,927 shares of company stock valued at $1,029,978 in the last 90 days. 0.70% of the stock is currently owned by insiders.

Institutional Trading of Chord Energy

A number of hedge funds have recently bought and sold shares of the stock. SBI Securities Co. Ltd. increased its holdings in shares of Chord Energy by 16.5% during the 4th quarter. SBI Securities Co. Ltd. now owns 797 shares of the company’s stock worth $74,000 after purchasing an additional 113 shares during the period. First Citizens Bank & Trust Co. grew its position in Chord Energy by 2.3% during the third quarter. First Citizens Bank & Trust Co. now owns 5,306 shares of the company’s stock worth $527,000 after buying an additional 120 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its position in Chord Energy by 18.8% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 822 shares of the company’s stock worth $82,000 after buying an additional 130 shares in the last quarter. WealthCollab LLC increased its stake in Chord Energy by 90.6% during the second quarter. WealthCollab LLC now owns 305 shares of the company’s stock valued at $30,000 after acquiring an additional 145 shares during the period. Finally, PNC Financial Services Group Inc. increased its stake in Chord Energy by 3.8% during the third quarter. PNC Financial Services Group Inc. now owns 4,325 shares of the company’s stock valued at $430,000 after acquiring an additional 157 shares during the period. 97.76% of the stock is owned by institutional investors.

Chord Energy Company Profile

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.