Truist Financial Increases Chord Energy (NASDAQ:CHRD) Price Target to $187.00

Chord Energy (NASDAQ:CHRD) had its price objective increased by analysts at Truist Financial from $169.00 to $187.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Truist Financial’s target price would suggest a potential upside of 38.51% from the company’s previous close.

Several other equities analysts have also weighed in on CHRD. Zacks Research raised shares of Chord Energy from a “hold” rating to a “strong-buy” rating in a research report on Monday, April 6th. Piper Sandler increased their price objective on shares of Chord Energy from $158.00 to $190.00 and gave the company an “overweight” rating in a research report on Thursday, March 12th. UBS Group increased their price objective on shares of Chord Energy from $119.00 to $142.00 and gave the company a “buy” rating in a research report on Thursday, March 5th. Weiss Ratings raised shares of Chord Energy from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Tuesday, March 17th. Finally, Mizuho set a $148.00 price objective on shares of Chord Energy in a research report on Friday, January 9th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $146.58.

Chord Energy Stock Up 0.6%

CHRD traded up $0.84 during trading on Monday, reaching $135.01. 254,698 shares of the stock were exchanged, compared to its average volume of 1,038,840. The stock has a market cap of $7.65 billion, a P/E ratio of 214.30 and a beta of 0.66. Chord Energy has a twelve month low of $84.25 and a twelve month high of $148.41. The stock’s 50 day moving average price is $119.62 and its two-hundred day moving average price is $102.61. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.98 and a current ratio of 1.06.

Chord Energy (NASDAQ:CHRD) last issued its earnings results on Wednesday, February 25th. The company reported $1.28 earnings per share for the quarter, topping analysts’ consensus estimates of $1.17 by $0.11. The business had revenue of $1.17 billion for the quarter, compared to the consensus estimate of $1.03 billion. Chord Energy had a net margin of 0.91% and a return on equity of 6.71%. The firm’s revenue for the quarter was down 19.6% on a year-over-year basis. During the same period in the previous year, the company earned $3.49 earnings per share. Equities analysts expect that Chord Energy will post 15.59 EPS for the current year.

Insider Buying and Selling at Chord Energy

In related news, CAO Lara J. Kroll sold 5,000 shares of the company’s stock in a transaction dated Tuesday, March 3rd. The shares were sold at an average price of $113.66, for a total value of $568,300.00. Following the transaction, the chief accounting officer directly owned 8,921 shares in the company, 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 SEC, which is accessible through this link. Also, EVP Shannon Browning Kinney sold 1,801 shares of the company’s stock in a transaction dated Tuesday, March 3rd. The shares were sold at an average price of $114.36, for a total transaction of $205,962.36. Following the completion of the transaction, the executive vice president owned 20,188 shares in the company, valued at $2,308,699.68. This trade represents a 8.19% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 23,927 shares of company stock valued at $2,912,028. 0.79% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Chord Energy

Institutional investors and hedge funds have recently modified their holdings of the business. WealthCollab LLC grew its stake in Chord Energy by 90.6% during the second quarter. WealthCollab LLC now owns 305 shares of the company’s stock worth $30,000 after buying an additional 145 shares in the last quarter. Quent Capital LLC acquired a new stake in Chord Energy during the third quarter worth about $32,000. Pilgrim Partners Asia Pte Ltd acquired a new stake in Chord Energy during the third quarter worth about $46,000. Rockefeller Capital Management L.P. grew its stake in Chord Energy by 213.1% during the fourth quarter. Rockefeller Capital Management L.P. now owns 501 shares of the company’s stock worth $47,000 after buying an additional 341 shares in the last quarter. Finally, TD Private Client Wealth LLC grew its stake in Chord Energy by 360.3% during the fourth quarter. TD Private Client Wealth LLC now owns 580 shares of the company’s stock worth $54,000 after buying an additional 454 shares in the last quarter. 97.76% of the stock is currently owned by institutional investors and hedge funds.

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.