Wells Fargo & Company Issues Positive Forecast for Chord Energy (NASDAQ:CHRD) Stock Price

Chord Energy (NASDAQ:CHRD) had its target price lifted by Wells Fargo & Company from $108.00 to $113.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Wells Fargo & Company‘s target price indicates a potential upside of 22.19% from the stock’s current price.

A number of other research analysts also recently commented on the stock. Royal Bank Of Canada reissued an “outperform” rating and set a $130.00 target price on shares of Chord Energy in a research report on Monday, October 6th. UBS Group reduced their price objective on shares of Chord Energy from $130.00 to $123.00 and set a “buy” rating for the company in a research note on Wednesday. Morgan Stanley dropped their target price on Chord Energy from $131.00 to $128.00 and set an “equal weight” rating on the stock in a research report on Tuesday, October 14th. Weiss Ratings restated a “hold (c-)” rating on shares of Chord Energy in a research note on Wednesday, October 8th. Finally, Roth Capital assumed coverage on Chord Energy in a research report on Monday, October 13th. They set a “buy” rating and a $130.00 price objective on the stock. Ten equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, Chord Energy currently has a consensus rating of “Moderate Buy” and a consensus target price of $138.23.

Chord Energy Trading Up 1.9%

Shares of NASDAQ:CHRD traded up $1.74 during trading on Friday, reaching $92.48. 271,494 shares of the company were exchanged, compared to its average volume of 831,478. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.35 and a quick ratio of 1.28. The firm has a market capitalization of $5.26 billion, a PE ratio of 35.49 and a beta of 0.92. The business’s fifty day simple moving average is $95.96 and its 200-day simple moving average is $99.27. Chord Energy has a 12-month low of $79.83 and a 12-month high of $134.54.

Chord Energy (NASDAQ:CHRD) last released its quarterly earnings data on Tuesday, November 4th. The company reported $2.35 EPS for the quarter, topping the consensus estimate of $2.24 by $0.11. Chord Energy had a return on equity of 8.27% and a net margin of 3.31%.The company had revenue of $1.31 billion for the quarter, compared to the consensus estimate of $1.02 billion. During the same period last year, the business posted $3.40 EPS. Chord Energy’s quarterly revenue was up 17.0% on a year-over-year basis. On average, research analysts anticipate that Chord Energy will post 15.59 EPS for the current year.

Insiders Place Their Bets

In other news, Director Samantha Holroyd bought 1,250 shares of Chord Energy stock in a transaction that occurred on Friday, November 7th. The stock was bought at an average price of $85.50 per share, for a total transaction of $106,875.00. Following the purchase, the director directly owned 17,706 shares of the company’s stock, valued at approximately $1,513,863. The trade was a 7.60% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Shannon Browning Kinney sold 3,019 shares of Chord Energy stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $105.43, for a total value of $318,293.17. Following the sale, the executive vice president directly owned 14,650 shares of the company’s stock, valued at approximately $1,544,549.50. This represents a 17.09% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 0.70% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Massachusetts Financial Services Co. MA purchased a new stake in Chord Energy in the third quarter valued at approximately $91,434,000. Orion Porfolio Solutions LLC raised its holdings in shares of Chord Energy by 6,714.2% during the second quarter. Orion Porfolio Solutions LLC now owns 709,086 shares of the company’s stock worth $68,675,000 after purchasing an additional 698,680 shares during the last quarter. AQR Capital Management LLC lifted its position in Chord Energy by 210.5% during the second quarter. AQR Capital Management LLC now owns 734,225 shares of the company’s stock valued at $71,110,000 after purchasing an additional 497,789 shares during the period. Nuveen LLC acquired a new stake in Chord Energy during the 1st quarter worth about $36,837,000. Finally, Barclays PLC raised its stake in shares of Chord Energy by 186.2% during the 3rd quarter. Barclays PLC now owns 501,170 shares of the company’s stock valued at $49,801,000 after buying an additional 326,054 shares during the last quarter. 97.76% of the stock is currently owned by hedge funds and other institutional investors.

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.