Wells Fargo & Company Lowers Chord Energy (NASDAQ:CHRD) Price Target to $185.00

Chord Energy (NASDAQ:CHRD) had its target price cut by Wells Fargo & Company from $200.00 to $185.00 in a research note issued on Tuesday, Benzinga reports. The firm presently has an “overweight” rating on the stock. Wells Fargo & Company‘s target price points to a potential upside of 40.94% from the company’s current price.

Several other analysts have also commented on the stock. Wolfe Research initiated coverage on shares of Chord Energy in a research report on Thursday, July 18th. They issued a “peer perform” rating on the stock. Piper Sandler lowered their price objective on shares of Chord Energy from $234.00 to $206.00 and set an “overweight” rating on the stock in a research report on Thursday, August 15th. Jefferies Financial Group initiated coverage on shares of Chord Energy in a research report on Thursday, September 5th. They issued a “hold” rating and a $160.00 price objective on the stock. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $200.00 price objective on shares of Chord Energy in a research report on Friday, September 20th. Finally, BMO Capital Markets assumed coverage on shares of Chord Energy in a research report on Monday, June 3rd. They issued an “outperform” rating and a $230.00 price target on the stock. Two research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $197.90.

Chord Energy Stock Up 0.8 %

NASDAQ CHRD traded up $1.03 on Tuesday, hitting $131.26. 509,404 shares of the company were exchanged, compared to its average volume of 892,003. The company has a market cap of $5.47 billion, a PE ratio of 6.17, a PEG ratio of 4.92 and a beta of 0.99. Chord Energy has a 12 month low of $126.96 and a 12 month high of $190.23. The stock has a fifty day moving average of $147.58 and a 200-day moving average of $165.92. The company has a current ratio of 0.96, a quick ratio of 0.91 and a debt-to-equity ratio of 0.11.

Chord Energy (NASDAQ:CHRD) last released its quarterly earnings data on Wednesday, August 7th. The company reported $4.69 earnings per share for the quarter, missing analysts’ consensus estimates of $5.00 by ($0.31). Chord Energy had a net margin of 20.83% and a return on equity of 15.06%. The business had revenue of $902.70 million during the quarter, compared to the consensus estimate of $982.43 million. During the same period last year, the business posted $3.65 earnings per share. The firm’s quarterly revenue was up 29.8% on a year-over-year basis. As a group, analysts forecast that Chord Energy will post 18.48 earnings per share for the current year.

Insider Activity

In other Chord Energy news, Director Samantha Holroyd acquired 500 shares of the business’s stock in a transaction dated Friday, August 23rd. The stock was bought at an average price of $149.51 per share, with a total value of $74,755.00. Following the purchase, the director now owns 14,417 shares of the company’s stock, valued at $2,155,485.67. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.70% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Chord Energy

Several institutional investors have recently added to or reduced their stakes in CHRD. Dimensional Fund Advisors LP raised its holdings in Chord Energy by 72.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,771,780 shares of the company’s stock worth $297,090,000 after purchasing an additional 741,705 shares in the last quarter. Victory Capital Management Inc. raised 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 purchasing an additional 1,269,658 shares in the last quarter. First Trust Advisors LP raised its holdings in Chord Energy by 11.0% in the 4th quarter. First Trust Advisors LP now owns 1,402,359 shares of the company’s stock worth $233,114,000 after purchasing an additional 138,957 shares in the last quarter. Boston Partners raised its holdings in Chord Energy by 107.0% in the 1st quarter. Boston Partners now owns 1,305,942 shares of the company’s stock worth $232,813,000 after purchasing an additional 674,965 shares in the last quarter. Finally, American Century Companies Inc. increased its stake in shares of Chord Energy by 13.2% in the 2nd quarter. American Century Companies Inc. now owns 971,982 shares of the company’s stock worth $162,982,000 after acquiring an additional 113,618 shares in the last quarter. Hedge funds and other institutional investors own 97.76% of the company’s stock.

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.