Piper Sandler Lowers Chord Energy (NASDAQ:CHRD) Price Target to $194.00

Chord Energy (NASDAQ:CHRD) had its target price reduced by research analysts at Piper Sandler from $212.00 to $194.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Piper Sandler’s price target suggests a potential upside of 70.61% from the stock’s previous close.

A number of other brokerages have also weighed in on CHRD. 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. BMO Capital Markets lowered their target price on Chord Energy from $205.00 to $175.00 and set an “outperform” rating for the company in a research report on Friday, October 4th. Wells Fargo & Company raised their price objective on Chord Energy from $175.00 to $176.00 and gave the stock an “overweight” rating in a research report on Tuesday. UBS Group lowered their target price on shares of Chord Energy from $168.00 to $161.00 and set a “buy” rating for the company in a research note on Monday, December 9th. Finally, Truist Financial dropped their price target on Chord Energy from $223.00 to $185.00 and set a “buy” rating on the stock in a research note on Monday, September 30th. Two equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $182.55.

Chord Energy Price Performance

Chord Energy stock traded down $2.48 during mid-day trading on Tuesday, reaching $113.71. 247,404 shares of the company were exchanged, compared to its average volume of 889,328. The firm has a market cap of $6.95 billion, a PE ratio of 5.86, a PEG ratio of 4.79 and a beta of 0.96. Chord Energy has a 12 month low of $113.58 and a 12 month 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. The company has a fifty day simple moving average of $127.45 and a 200-day simple moving average of $146.03.

Chord Energy (NASDAQ:CHRD) last announced its quarterly earnings data on Wednesday, November 6th. The company reported $3.40 EPS for the quarter, missing the consensus estimate 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 for the quarter, compared to analyst estimates of $1.26 billion. During the same quarter in the prior year, the firm earned $5.04 earnings per share. The firm’s revenue for the quarter was up 33.4% on a year-over-year basis. As a group, equities research analysts expect that Chord Energy will post 16.5 earnings per share for the current fiscal year.

Insider Activity

In other news, CAO Shannon Browning Kinney sold 1,000 shares of the company’s stock in a transaction on Monday, December 9th. The stock was sold at an average price of $121.27, for a total transaction of $121,270.00. Following the transaction, the chief accounting officer now owns 20,488 shares of the company’s stock, valued at $2,484,579.76. This represents a 4.65 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.70% of the company’s stock.

Institutional Investors Weigh In On Chord Energy

Several institutional investors have recently added to or reduced their stakes in the business. Victory Capital Management Inc. boosted its holdings in Chord Energy by 397.5% in the 2nd quarter. Victory Capital Management Inc. now owns 1,589,061 shares of the company’s stock worth $266,454,000 after buying an additional 1,269,658 shares during the period. Pacer Advisors Inc. grew its position in shares of Chord Energy by 8,762.1% during the 3rd quarter. Pacer Advisors Inc. now owns 1,245,034 shares of the company’s stock valued at $162,141,000 after purchasing an additional 1,230,985 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of Chord Energy by 72.0% in the second quarter. Dimensional Fund Advisors LP now owns 1,771,780 shares of the company’s stock worth $297,090,000 after buying an additional 741,705 shares in the last quarter. Point72 Asset Management L.P. boosted its stake in Chord Energy by 143.8% during the third quarter. Point72 Asset Management L.P. now owns 880,787 shares of the company’s stock valued at $114,705,000 after buying an additional 519,547 shares during the period. Finally, Millennium Management LLC increased its stake in Chord Energy by 226.5% in the 2nd quarter. Millennium Management LLC now owns 696,488 shares of the company’s stock worth $116,787,000 after acquiring an additional 483,144 shares during the last quarter. 97.76% of the stock is owned by hedge funds and other 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.