Chord Energy (NASDAQ:CHRD) Price Target Lowered to $178.00 at Mizuho

Chord Energy (NASDAQ:CHRD) had its target price lowered by analysts at Mizuho from $192.00 to $178.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Mizuho’s target price would suggest a potential upside of 52.53% from the company’s previous close.

Other equities analysts also recently issued research reports about the stock. UBS Group cut their price objective on shares of Chord Energy from $168.00 to $161.00 and set a “buy” rating for the company in a research report on Monday, December 9th. Wells Fargo & Company reduced their price target on shares of Chord Energy from $185.00 to $180.00 and set an “overweight” rating for the company in a research report on Wednesday, October 16th. Siebert Williams Shank raised Chord Energy to a “strong-buy” rating in a report on Tuesday, October 15th. Jefferies Financial Group started coverage on shares of Chord Energy in a research note on Thursday, September 5th. They issued a “hold” rating and a $160.00 price objective on the stock. Finally, Truist Financial lowered their price target on shares of Chord Energy from $223.00 to $185.00 and set a “buy” rating on the stock in a research report on Monday, September 30th. Two analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $184.55.

Chord Energy Stock Down 2.2 %

Chord Energy stock traded down $2.58 during mid-day trading on Monday, reaching $116.70. 238,491 shares of the company’s stock were exchanged, compared to its average volume of 889,145. The company has a fifty day moving average of $127.88 and a 200-day moving average of $146.48. The company has a market cap of $7.13 billion, a P/E ratio of 6.01, a P/E/G ratio of 4.79 and a beta of 0.96. The company has a quick ratio of 0.89, a current ratio of 0.93 and a debt-to-equity ratio of 0.10. Chord Energy has a twelve month low of $115.96 and a twelve month high of $190.23.

Chord Energy (NASDAQ:CHRD) last posted its earnings results on Wednesday, November 6th. The company reported $3.40 EPS for the quarter, missing the consensus estimate of $3.63 by ($0.23). The business had revenue of $1.12 billion during the quarter, compared to analysts’ expectations of $1.26 billion. Chord Energy had a net margin of 19.74% and a return on equity of 12.88%. The business’s quarterly revenue was up 33.4% compared to the same quarter last year. During the same period last year, the company earned $5.04 EPS. Sell-side analysts expect that Chord Energy will post 16.5 EPS for the current year.

Insider Transactions at Chord Energy

In other news, CAO Shannon Browning Kinney sold 1,000 shares of the company’s stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $121.27, for a total transaction of $121,270.00. Following the completion of the transaction, the chief accounting officer now directly owns 20,488 shares of the company’s stock, valued at approximately $2,484,579.76. This represents a 4.65 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.70% of the company’s stock.

Hedge Funds Weigh In On Chord Energy

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CHRD. Victory Capital Management Inc. raised its position in Chord Energy by 397.5% in the second quarter. Victory Capital Management Inc. now owns 1,589,061 shares of the company’s stock worth $266,454,000 after acquiring an additional 1,269,658 shares in the last quarter. Pacer Advisors Inc. boosted its position in shares of Chord Energy by 8,762.1% in the 3rd quarter. Pacer Advisors Inc. now owns 1,245,034 shares of the company’s stock valued at $162,141,000 after purchasing an additional 1,230,985 shares during the period. Dimensional Fund Advisors LP raised its holdings in Chord Energy by 72.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,771,780 shares of the company’s stock worth $297,090,000 after buying an additional 741,705 shares during the period. Point72 Asset Management L.P. lifted its stake in Chord Energy by 143.8% during the third quarter. Point72 Asset Management L.P. now owns 880,787 shares of the company’s stock valued at $114,705,000 after buying an additional 519,547 shares in the last quarter. Finally, Millennium Management LLC boosted its holdings in shares of Chord Energy by 226.5% in the second quarter. Millennium Management LLC now owns 696,488 shares of the company’s stock worth $116,787,000 after buying an additional 483,144 shares during the period. 97.76% of the stock is 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.