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

Chord Energy (NASDAQ:CHRD) was upgraded by equities researchers at Wall Street Zen from a “sell” rating to a “hold” rating in a research note issued on Saturday.

Other analysts have also recently issued reports about the stock. Citigroup upped their price target on shares of Chord Energy from $97.00 to $120.00 and gave the company a “neutral” rating in a report on Friday, March 6th. Scotiabank reissued a “sector perform” rating and set a $114.00 price objective on shares of Chord Energy in a report on Friday, January 16th. Weiss Ratings raised shares of Chord Energy from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Tuesday, March 17th. UBS Group increased their price target on shares of Chord Energy from $119.00 to $142.00 and gave the stock a “buy” rating in a research report on Thursday, March 5th. Finally, Piper Sandler lifted their price target on Chord Energy from $158.00 to $190.00 and gave the stock an “overweight” rating in a research note on Thursday, March 12th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, Chord Energy presently has an average rating of “Moderate Buy” and an average target price of $138.92.

Chord Energy Price Performance

Shares of NASDAQ CHRD opened at $145.35 on Friday. The company has a quick ratio of 0.98, a current ratio of 1.06 and a debt-to-equity ratio of 0.18. Chord Energy has a fifty-two week low of $79.83 and a fifty-two week high of $146.93. The business has a 50 day moving average price of $110.87 and a two-hundred day moving average price of $100.10. The firm has a market cap of $8.24 billion, a PE ratio of 230.71 and a beta of 0.84.

Chord Energy (NASDAQ:CHRD) last announced its earnings results on Wednesday, February 25th. The company reported $1.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.17 by $0.11. The company had revenue of $1.17 billion for the quarter, compared to analyst estimates of $1.03 billion. Chord Energy had a return on equity of 6.71% and a net margin of 0.91%.Chord Energy’s quarterly revenue was down 19.6% on a year-over-year basis. During the same period in the prior year, the company posted $3.49 EPS. Sell-side analysts expect that Chord Energy will post 15.59 earnings per share for the current fiscal year.

Insider Buying and Selling at Chord Energy

In related news, EVP Shannon Browning Kinney sold 1,801 shares of the business’s stock in a transaction dated Tuesday, March 3rd. The shares were sold at an average price of $114.36, for a total transaction of $205,962.36. Following the completion of the sale, the executive vice president owned 20,188 shares of the company’s stock, valued at $2,308,699.68. This represents a 8.19% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Douglas E. Brooks sold 2,126 shares of the stock in a transaction dated Friday, March 6th. The stock was sold at an average price of $120.28, for a total transaction of $255,715.28. Following the sale, the director owned 25,181 shares in the company, valued at approximately $3,028,770.68. This trade represents a 7.79% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 23,927 shares of company stock valued at $2,912,028. Corporate insiders own 0.70% of the company’s stock.

Hedge Funds Weigh In On Chord Energy

Several institutional investors have recently made changes to their positions in the stock. Hsbc Holdings PLC raised its position in shares of Chord Energy by 169.1% during the 4th quarter. Hsbc Holdings PLC now owns 164,220 shares of the company’s stock worth $15,138,000 after purchasing an additional 103,202 shares during the period. Rockefeller Capital Management L.P. boosted its position in Chord Energy by 213.1% during the 4th quarter. Rockefeller Capital Management L.P. now owns 501 shares of the company’s stock valued at $47,000 after purchasing an additional 341 shares during the period. World Investment Advisors acquired a new position in Chord Energy during the 4th quarter valued at approximately $408,000. Sankala Group LLC bought a new position in Chord Energy during the 4th quarter worth $57,000. Finally, MidFirst Bank acquired a new stake in Chord Energy in the fourth quarter worth $115,000. 97.76% of the stock is owned by institutional investors.

Chord Energy Company Profile

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.