Chord Energy (NASDAQ:CHRD – Get Free Report) had its target price decreased by investment analysts at Truist Financial from $228.00 to $226.00 in a research note issued to investors on Monday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. Truist Financial’s price objective points to a potential upside of 27.86% from the company’s previous close.
A number of other brokerages also recently commented on CHRD. Royal Bank of Canada increased their price objective on Chord Energy from $180.00 to $200.00 and gave the company an “outperform” rating in a research report on Monday, April 29th. Piper Sandler increased their price objective on Chord Energy from $231.00 to $233.00 and gave the company an “overweight” rating in a research report on Friday, May 24th. Stifel Nicolaus increased their price objective on Chord Energy from $178.00 to $211.00 and gave the company a “buy” rating in a research report on Tuesday, February 27th. Finally, Mizuho increased their price objective on Chord Energy from $195.00 to $214.00 and gave the company a “buy” rating in a research report on Monday, May 13th. One analyst has rated the stock with a sell rating, one has given a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $200.40.
Read Our Latest Analysis on Chord Energy
Chord Energy Price Performance
CHRD traded down $8.65 during trading on Monday, reaching $176.76. The stock had a trading volume of 2,550,935 shares, compared to its average volume of 791,856. The firm has a market capitalization of $7.37 billion, a price-to-earnings ratio of 8.28 and a beta of 1.05. The company has a quick ratio of 1.07, a current ratio of 1.14 and a debt-to-equity ratio of 0.08. Chord Energy has a 1-year low of $143.69 and a 1-year high of $190.23. The stock has a 50 day moving average of $180.73 and a two-hundred day moving average of $167.86.
Chord Energy (NASDAQ:CHRD – Get Free Report) last released its earnings results on Tuesday, May 7th. The company reported $5.10 earnings per share for the quarter, topping analysts’ consensus estimates of $4.75 by $0.35. The firm had revenue of $1.09 billion during the quarter, compared to the consensus estimate of $771.87 million. Chord Energy had a return on equity of 16.57% and a net margin of 22.67%. The firm’s revenue for the quarter was up 24.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $4.50 earnings per share. As a group, equities analysts anticipate that Chord Energy will post 22.61 EPS for the current fiscal year.
Hedge Funds Weigh In On Chord Energy
A number of hedge funds have recently modified their holdings of the stock. State Board of Administration of Florida Retirement System increased its stake in shares of Chord Energy by 0.6% in the third quarter. State Board of Administration of Florida Retirement System now owns 11,956 shares of the company’s stock worth $1,938,000 after acquiring an additional 70 shares during the last quarter. Xponance Inc. increased its stake in shares of Chord Energy by 1.3% in the fourth quarter. Xponance Inc. now owns 6,070 shares of the company’s stock worth $1,009,000 after acquiring an additional 77 shares during the last quarter. Contravisory Investment Management Inc. increased its stake in shares of Chord Energy by 48.9% in the fourth quarter. Contravisory Investment Management Inc. now owns 259 shares of the company’s stock worth $43,000 after acquiring an additional 85 shares during the last quarter. Fortem Financial Group LLC boosted its holdings in Chord Energy by 1.6% in the first quarter. Fortem Financial Group LLC now owns 5,958 shares of the company’s stock worth $1,062,000 after purchasing an additional 91 shares in the last quarter. Finally, Viking Fund Management LLC boosted its holdings in Chord Energy by 40.0% in the fourth quarter. Viking Fund Management LLC now owns 350 shares of the company’s stock worth $58,000 after purchasing an additional 100 shares in the last quarter. 97.76% of the stock is owned by institutional investors and hedge funds.
About Chord Energy
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.
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