Wall Street Zen Upgrades Chord Energy (NASDAQ:CHRD) to Hold

Chord Energy (NASDAQ:CHRD) was upgraded by analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a report issued on Friday.

Several other equities analysts have also commented on CHRD. Royal Bank Of Canada dropped their price target on shares of Chord Energy from $165.00 to $145.00 and set an “outperform” rating for the company in a research report on Friday, April 11th. Piper Sandler dropped their price target on shares of Chord Energy from $184.00 to $183.00 and set an “overweight” rating for the company in a research report on Tuesday, April 22nd. Citigroup dropped their price target on shares of Chord Energy from $135.00 to $120.00 and set a “buy” rating for the company in a research report on Monday, April 7th. Wells Fargo & Company dropped their price objective on shares of Chord Energy from $158.00 to $142.00 and set an “overweight” rating for the company in a research report on Monday, June 16th. Finally, Bank of America dropped their price objective on shares of Chord Energy from $114.00 to $112.00 and set a “buy” rating for the company in a research report on Friday, May 23rd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Chord Energy currently has a consensus rating of “Moderate Buy” and a consensus price target of $152.54.

Chord Energy Stock Performance

Shares of CHRD stock opened at $98.70 on Friday. Chord Energy has a one year low of $79.83 and a one year high of $181.17. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.83 and a current ratio of 0.89. The company has a 50 day moving average price of $95.69 and a 200 day moving average price of $105.27. The firm has a market capitalization of $5.70 billion, a price-to-earnings ratio of 6.60, a price-to-earnings-growth ratio of 6.84 and a beta of 0.96.

Chord Energy (NASDAQ:CHRD) last issued its quarterly earnings results on Tuesday, May 6th. The company reported $4.04 EPS for the quarter, topping the consensus estimate of $3.60 by $0.44. Chord Energy had a net margin of 16.15% and a return on equity of 10.34%. The firm had revenue of $1.22 billion during the quarter, compared to analyst estimates of $1.07 billion. During the same quarter in the prior year, the business posted $5.10 earnings per share. Chord Energy’s revenue for the quarter was up 12.0% compared to the same quarter last year. Sell-side analysts anticipate that Chord Energy will post 15.59 EPS for the current year.

Insider Buying and Selling at Chord Energy

In other news, EVP Shannon Browning Kinney sold 3,091 shares of the firm’s stock in a transaction dated Thursday, May 8th. The shares were sold at an average price of $94.10, for a total value of $290,863.10. Following the transaction, the executive vice president now directly owns 21,277 shares in the company, valued at approximately $2,002,165.70. This trade represents a 12.68% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.70% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Voya Investment Management LLC lifted its position in shares of Chord Energy by 1.4% in the 1st quarter. Voya Investment Management LLC now owns 7,579 shares of the company’s stock worth $854,000 after buying an additional 107 shares during the last quarter. Lynx Investment Advisory bought a new position in shares of Chord Energy in the 1st quarter worth about $310,000. IFM Investors Pty Ltd bought a new position in shares of Chord Energy in the 1st quarter worth about $1,206,000. Focus Partners Wealth bought a new stake in Chord Energy in the 1st quarter valued at about $289,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in Chord Energy by 17.1% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 123,964 shares of the company’s stock valued at $13,973,000 after purchasing an additional 18,137 shares during the last quarter. 97.76% of the stock is currently owned by institutional investors.

Chord Energy Company Profile

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.