Chord Energy (NASDAQ:CHRD – Get Free Report) had its target price decreased by equities research analysts at Wells Fargo & Company from $158.00 to $142.00 in a report released on Monday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Wells Fargo & Company‘s price target would suggest a potential upside of 32.88% from the stock’s current price.
Several other equities research analysts have also recently commented on CHRD. Piper Sandler decreased their target price on Chord Energy from $184.00 to $183.00 and set an “overweight” rating for the company in a research note on Tuesday, April 22nd. Bank of America dropped their target price on shares of Chord Energy from $114.00 to $112.00 and set a “buy” rating on the stock in a research report on Friday, May 23rd. Williams Trading set a $155.00 price target on shares of Chord Energy in a research note on Wednesday, March 5th. Morgan Stanley set a $139.00 price target on Chord Energy and gave the stock a “cautious” rating in a research note on Wednesday, March 26th. Finally, Wall Street Zen cut Chord Energy from a “hold” rating to a “sell” rating in a research note on Friday, May 30th. Two research analysts have rated the stock with a sell rating, one has given a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $152.54.
Get Our Latest Stock Analysis on CHRD
Chord Energy Stock Performance
Chord Energy (NASDAQ:CHRD – Get Free Report) last posted its quarterly earnings data on Tuesday, May 6th. The company reported $4.04 earnings per share for the quarter, topping the consensus estimate of $3.60 by $0.44. The company had revenue of $1.22 billion during the quarter, compared to analysts’ expectations of $1.07 billion. Chord Energy had a net margin of 16.15% and a return on equity of 10.34%. Chord Energy’s revenue for the quarter was up 12.0% compared to the same quarter last year. During the same period in the prior year, the company posted $5.10 earnings per share. Research analysts anticipate that Chord Energy will post 15.59 earnings per share for the current year.
Insider Transactions at Chord Energy
In other news, EVP Shannon Browning Kinney sold 3,091 shares of the business’s stock in a transaction that occurred on Thursday, May 8th. The stock was sold at an average price of $94.10, for a total value of $290,863.10. Following the transaction, the executive vice president now owns 21,277 shares in the company, valued at $2,002,165.70. The trade was a 12.68% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.70% of the company’s stock.
Institutional Trading of Chord Energy
A number of hedge funds have recently bought and sold shares of the business. Altshuler Shaham Ltd bought a new position in Chord Energy in the 4th quarter valued at $25,000. Twin Tree Management LP purchased a new stake in Chord Energy during the fourth quarter worth about $33,000. Larson Financial Group LLC raised its position in Chord Energy by 238.3% in the fourth quarter. Larson Financial Group LLC now owns 318 shares of the company’s stock worth $37,000 after acquiring an additional 224 shares during the period. Hexagon Capital Partners LLC boosted its stake in Chord Energy by 321.7% in the first quarter. Hexagon Capital Partners LLC now owns 447 shares of the company’s stock valued at $50,000 after acquiring an additional 341 shares during the last quarter. Finally, Venturi Wealth Management LLC grew its position in shares of Chord Energy by 1,751.9% during the 4th quarter. Venturi Wealth Management LLC now owns 500 shares of the company’s stock valued at $58,000 after acquiring an additional 473 shares during the period. 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.
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