Chord Energy (NASDAQ:CHRD – Get Free Report) was upgraded by Wall Street Zen from a “buy” rating to a “strong-buy” rating in a research report issued on Saturday, Wall Street Zen reports.
Other equities analysts have also issued research reports about the company. Stifel Nicolaus started coverage on Chord Energy in a research note on Thursday, September 10th. They issued a “buy” rating and a $182.00 price target for the company. Truist Financial upped their price target on Chord Energy from $166.00 to $180.00 and gave the stock a “buy” rating in a report on Wednesday, September 16th. Citigroup increased their price target on Chord Energy from $130.00 to $150.00 and gave the stock a “neutral” rating in a research report on Thursday, September 17th. Jefferies Financial Group raised their price objective on Chord Energy from $133.00 to $150.00 and gave the company a “hold” rating in a report on Friday, September 18th. Finally, Morgan Stanley dropped their price objective on Chord Energy from $175.00 to $169.00 and set an “overweight” rating on the stock in a report on Monday, June 29th. Twelve analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $166.54.
View Our Latest Report on Chord Energy
Chord Energy Price Performance
Chord Energy (NASDAQ:CHRD – Get Free Report) last issued its quarterly earnings data on Wednesday, August 5th. The company reported $6.44 earnings per share for the quarter, missing analysts’ consensus estimates of $6.55 by ($0.11). Chord Energy had a return on equity of 10.18% and a net margin of 13.42%. The firm had revenue of $2.17 billion during the quarter, compared to analyst estimates of $1.62 billion. During the same quarter last year, the company posted $1.79 EPS. The company’s revenue was up 128.6% on a year-over-year basis. On average, research analysts expect that Chord Energy will post 20.72 earnings per share for the current year.
Insider Buying and Selling at Chord Energy
In other news, Director Samantha Mckinney sold 9,750 shares of Chord Energy stock in a transaction dated Tuesday, September 1st. The shares were sold at an average price of $149.94, for a total value of $1,461,915.00. Following the sale, the director owned 7,280 shares in the company, valued at $1,091,563.20. This trade represents a 57.25% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Douglas E. Brooks sold 8,000 shares of the business’s stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $133.14, for a total transaction of $1,065,120.00. Following the sale, the director directly owned 10,705 shares of the company’s stock, valued at $1,425,263.70. This represents a 42.77% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 23,969 shares of company stock valued at $3,389,599 over the last ninety days. Corporate insiders own 0.79% of the company’s stock.
Institutional Inflows and Outflows
Several hedge funds have recently modified their holdings of the stock. GAMMA Investing LLC boosted its stake in Chord Energy by 45.7% during the 3rd quarter. GAMMA Investing LLC now owns 2,358 shares of the company’s stock worth $316,000 after purchasing an additional 740 shares during the last quarter. Farther Finance Advisors LLC grew its holdings in shares of Chord Energy by 216.5% during the third quarter. Farther Finance Advisors LLC now owns 4,383 shares of the company’s stock worth $588,000 after buying an additional 2,998 shares in the last quarter. Argent Capital Management LLC raised its position in shares of Chord Energy by 25.1% in the third quarter. Argent Capital Management LLC now owns 21,934 shares of the company’s stock valued at $2,941,000 after buying an additional 4,407 shares during the last quarter. Core Capital Management & Research inc. acquired a new stake in shares of Chord Energy in the second quarter valued at about $668,000. Finally, Sequoia Financial Advisors LLC raised its position in shares of Chord Energy by 24.2% in the second quarter. Sequoia Financial Advisors LLC now owns 5,107 shares of the company’s stock valued at $584,000 after buying an additional 994 shares during the last quarter. Institutional investors and hedge funds own 97.76% of the company’s stock.
About Chord Energy
Chord Energy Corporation is an independent exploration and production company focused on developing and producing crude oil, natural gas and natural gas liquids. The company’s operations are concentrated in the Williston Basin, primarily in the Bakken and Three Forks formations of North Dakota and Montana.
Chord Energy’s activities include acquiring, exploring, drilling and operating oil and natural gas properties. Its portfolio is largely composed of developed, producing assets and undeveloped acreage in the Williston Basin, where the company uses horizontal drilling and hydraulic fracturing to produce hydrocarbons.
The company was formed through the 2022 merger of Oasis Petroleum Inc and Whiting Petroleum Corporation, bringing together complementary Bakken-focused operations.
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