Chord Energy (NASDAQ:CHRD) Price Target Raised to $198.00

Chord Energy (NASDAQ:CHRD) had its target price upped by UBS Group from $197.00 to $198.00 in a report released on Tuesday, Benzinga reports. The firm presently has a “buy” rating on the stock. UBS Group‘s price objective would indicate a potential upside of 42.56% from the company’s current price.

Other equities research analysts also recently issued reports about the company. Seaport Research Partners began coverage on Chord Energy in a report on Thursday, September 3rd. They set a “neutral” rating for the company. Citigroup lifted their price target on Chord Energy from $130.00 to $150.00 and gave the stock a “neutral” rating in a research note on Thursday, September 17th. Roth Capital restated a “buy” rating and set a $165.00 price objective on shares of Chord Energy in a report on Monday, October 19th. Truist Financial boosted their price objective on Chord Energy from $195.00 to $197.00 and gave the stock a “buy” rating in a report on Friday. Finally, Zacks Research raised shares of Chord Energy from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 20th. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $174.69.

Chord Energy Price Performance

Shares of NASDAQ:CHRD traded up $1.40 on Tuesday, reaching $138.89. 869,653 shares of the company traded hands, compared to its average volume of 858,090. The stock has a market capitalization of $7.60 billion, a PE ratio of 8.71 and a beta of 0.48. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.22 and a quick ratio of 1.15. The company’s 50 day moving average is $145.24 and its 200-day moving average is $132.08. Chord Energy has a fifty-two week low of $87.35 and a fifty-two week high of $159.96.

Chord Energy (NASDAQ:CHRD) last issued its earnings results on Wednesday, November 4th. The company reported $6.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.68 by $0.40. The business had revenue of $1.71 billion for the quarter, compared to analysts’ expectations of $1.64 billion. Chord Energy had a return on equity of 12.58% and a net margin of 13.40%. The company’s quarterly revenue was up 30.0% on a year-over-year basis. During the same period in the previous year, the firm posted $2.35 EPS. As a group, analysts anticipate that Chord Energy will post 23.11 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Samantha Mckinney sold 9,750 shares of the company’s stock in a transaction on Tuesday, September 1st. The shares were sold at an average price of $149.94, for a total value of $1,461,915.00. Following the transaction, the director directly owned 7,280 shares of the company’s stock, valued at approximately $1,091,563.20. This represents a 57.25% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.79% of the stock is owned by company insiders.

Institutional Trading of Chord Energy

A number of institutional investors have recently bought and sold shares of CHRD. Bessemer Group Inc. grew its stake in shares of Chord Energy by 63.8% in the 1st quarter. Bessemer Group Inc. now owns 190 shares of the company’s stock valued at $27,000 after buying an additional 74 shares in the last quarter. Alpine Bank Wealth Management acquired a new stake in Chord Energy in the third quarter valued at approximately $29,000. Versant Capital Management Inc lifted its stake in Chord Energy by 330.9% in the second quarter. Versant Capital Management Inc now owns 237 shares of the company’s stock valued at $27,000 after acquiring an additional 182 shares during the last quarter. Signature Equity Partners LLC lifted its stake in Chord Energy by 48.6% in the third quarter. Signature Equity Partners LLC now owns 364 shares of the company’s stock valued at $49,000 after acquiring an additional 119 shares during the last quarter. Finally, Root Financial Partners LLC bought a new stake in Chord Energy in the third quarter worth approximately $56,000. Institutional investors and hedge funds own 97.76% of the company’s stock.

About Chord Energy

Chord Energy Corporation is an independent exploration and production company focused on finding, developing and producing oil and natural gas. Its operations are concentrated in the Williston Basin, primarily in North Dakota and Montana, where it develops resources in the Bakken and Three Forks formations. The company’s production includes crude oil, natural gas liquids and natural gas. Chord Energy was formed in 2022 through the combination of Oasis Petroleum and Whiting Petroleum, bringing together their Williston Basin operations.