Stifel Nicolaus Reiterates “Buy” Rating for Chord Energy (NASDAQ:CHRD)

Chord Energy (NASDAQ:CHRDGet Free Report)‘s stock had its “buy” rating reiterated by analysts at Stifel Nicolaus in a report released on Thursday, Benzinga reports. They presently have a $182.00 target price on the stock. Stifel Nicolaus’ price target would indicate a potential upside of 21.75% from the stock’s previous close.

A number of other research analysts have also recently commented on the company. Morgan Stanley dropped their price target on Chord Energy from $175.00 to $169.00 and set an “overweight” rating for the company in a research note on Monday, June 29th. Citigroup reduced their price objective on Chord Energy from $155.00 to $130.00 and set a “neutral” rating on the stock in a research report on Friday, July 10th. BMO Capital Markets reaffirmed an “outperform” rating on shares of Chord Energy in a report on Monday, June 29th. Wells Fargo & Company increased their target price on Chord Energy from $163.00 to $175.00 and gave the company an “overweight” rating in a research report on Wednesday, September 2nd. Finally, Roth Capital reissued a “buy” rating and set a $145.00 price target on shares of Chord Energy in a research note on Wednesday, July 15th. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, four have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $155.50.

View Our Latest Analysis on Chord Energy

Chord Energy Trading Up 1.3%

Shares of CHRD opened at $149.49 on Thursday. The business’s fifty day moving average is $135.55 and its 200-day moving average is $132.88. The firm has a market cap of $8.18 billion, a price-to-earnings ratio of 10.02 and a beta of 0.50. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.15 and a current ratio of 1.22. Chord Energy has a 52-week low of $84.25 and a 52-week high of $153.00.

Chord Energy (NASDAQ:CHRDGet Free Report) last released its earnings results on Wednesday, August 5th. The company reported $6.44 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $6.55 by ($0.11). The business had revenue of $2.17 billion during the quarter, compared to the consensus estimate of $1.62 billion. Chord Energy had a net margin of 13.42% and a return on equity of 10.18%. The business’s revenue was up 128.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.79 EPS. Equities analysts anticipate that Chord Energy will post 19.33 EPS for the current fiscal year.

Insider Activity

In related news, Director Douglas E. Brooks sold 8,000 shares of the company’s stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $133.14, for a total value of $1,065,120.00. Following the sale, the director owned 10,705 shares in the company, valued at $1,425,263.70. This represents a 42.77% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Samantha Mckinney sold 9,750 shares of the stock in a transaction that occurred on Tuesday, September 1st. The stock was sold at an average price of $149.94, for a total value of $1,461,915.00. Following the completion of the sale, the director directly owned 7,280 shares of the company’s stock, valued at approximately $1,091,563.20. This trade represents a 57.25% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 23,969 shares of company stock worth $3,389,599 over the last quarter. 0.79% of the stock is currently owned by corporate insiders.

Institutional Trading of Chord Energy

Institutional investors and hedge funds have recently made changes to their positions in the company. Bessemer Group Inc. boosted its holdings in Chord Energy by 63.8% during the first quarter. Bessemer Group Inc. now owns 190 shares of the company’s stock worth $27,000 after purchasing an additional 74 shares during the last quarter. Versant Capital Management Inc increased its stake in Chord Energy by 330.9% in the 2nd quarter. Versant Capital Management Inc now owns 237 shares of the company’s stock valued at $27,000 after buying an additional 182 shares during the last quarter. V Square Quantitative Management LLC purchased a new stake in Chord Energy in the 1st quarter valued at about $29,000. WealthCollab LLC lifted its position in shares of Chord Energy by 90.6% during the 2nd 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. Finally, Root Financial Partners LLC lifted its position in shares of Chord Energy by 178.6% during the 1st quarter. Root Financial Partners LLC now owns 234 shares of the company’s stock worth $33,000 after buying an additional 150 shares in the last quarter. Hedge funds and other institutional investors own 97.76% of the company’s stock.

About Chord Energy

(Get Free Report)

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.

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