Piper Sandler Issues Pessimistic Forecast for Chord Energy (NASDAQ:CHRD) Stock Price

Chord Energy (NASDAQ:CHRD) had its target price lowered by Piper Sandler from $165.00 to $160.00 in a report released on Wednesday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Piper Sandler’s target price would indicate a potential upside of 61.26% from the company’s current price.

Several other brokerages also recently commented on CHRD. Royal Bank Of Canada dropped their target price on shares of Chord Energy from $135.00 to $128.00 and set an “outperform” rating on the stock in a report on Tuesday, January 13th. Weiss Ratings restated a “hold (c-)” rating on shares of Chord Energy in a report on Wednesday, January 21st. Zacks Research cut shares of Chord Energy from a “hold” rating to a “strong sell” rating in a research report on Tuesday, January 20th. Pickering Energy Partners lowered shares of Chord Energy from an “outperform” rating to a “neutral” rating in a research note on Friday, January 9th. Finally, William Blair began coverage on Chord Energy in a research note on Friday, November 21st. They issued an “outperform” rating on the stock. Eight investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $124.67.

Chord Energy Stock Performance

CHRD stock opened at $99.22 on Wednesday. Chord Energy has a 1-year low of $79.83 and a 1-year high of $117.79. The company has a current ratio of 1.35, a quick ratio of 1.28 and a debt-to-equity ratio of 0.18. The firm has a market cap of $5.64 billion, a PE ratio of 38.16 and a beta of 0.92. The business’s 50-day moving average price is $93.68 and its two-hundred day moving average price is $97.75.

Chord Energy (NASDAQ:CHRD) last released its quarterly earnings results on Tuesday, November 4th. The company reported $2.35 EPS for the quarter, topping analysts’ consensus estimates of $2.24 by $0.11. Chord Energy had a return on equity of 8.27% and a net margin of 3.31%.The company had revenue of $1.31 billion for the quarter, compared to analyst estimates of $1.02 billion. During the same quarter last year, the firm posted $3.40 earnings per share. Chord Energy’s revenue was up 17.0% compared to the same quarter last year. As a group, research analysts forecast that Chord Energy will post 15.59 earnings per share for the current year.

Insider Buying and Selling

In other Chord Energy news, Director Samantha Holroyd acquired 1,250 shares of Chord Energy stock in a transaction dated Friday, November 7th. The stock was bought at an average cost of $85.50 per share, for a total transaction of $106,875.00. Following the purchase, the director directly owned 17,706 shares in the company, valued at approximately $1,513,863. This represents a 7.60% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. 0.70% of the stock is owned by company insiders.

Institutional Trading of Chord Energy

Several institutional investors and hedge funds have recently bought and sold shares of CHRD. Assetmark Inc. grew its stake in Chord Energy by 7.3% in the second quarter. Assetmark Inc. now owns 1,417 shares of the company’s stock valued at $137,000 after purchasing an additional 96 shares in the last quarter. Lynx Investment Advisory boosted its holdings in shares of Chord Energy by 3.6% in the 2nd quarter. Lynx Investment Advisory now owns 2,847 shares of the company’s stock valued at $276,000 after buying an additional 99 shares during the last quarter. First Citizens Bank & Trust Co. grew its stake in shares of Chord Energy by 2.3% in the third quarter. First Citizens Bank & Trust Co. now owns 5,306 shares of the company’s stock valued at $527,000 after buying an additional 120 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its holdings in Chord Energy by 18.8% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 822 shares of the company’s stock worth $82,000 after buying an additional 130 shares during the last quarter. Finally, WealthCollab LLC raised its position 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 acquiring an additional 145 shares in the last quarter. Institutional investors own 97.76% of the company’s stock.

About Chord Energy

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.