Piper Sandler Lowers Chord Energy (NASDAQ:CHRD) Price Target to $160.00

Chord Energy (NASDAQ:CHRD) had its price objective decreased by research analysts at Piper Sandler from $165.00 to $160.00 in a research note issued on Wednesday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Piper Sandler’s price target would suggest a potential upside of 60.84% from the stock’s current price.

Several other research firms also recently weighed in on CHRD. Weiss Ratings reissued a “hold (c-)” rating on shares of Chord Energy in a research report on Wednesday, January 21st. Pickering Energy Partners cut Chord Energy from an “outperform” rating to a “neutral” rating in a research note on Friday, January 9th. Royal Bank Of Canada lowered their target price on Chord Energy from $135.00 to $128.00 and set an “outperform” rating on the stock in a report on Tuesday, January 13th. UBS Group cut their price objective on Chord Energy from $123.00 to $119.00 and set a “buy” rating on the stock in a report on Friday, January 9th. Finally, Wells Fargo & Company decreased their price objective on Chord Energy from $113.00 to $109.00 and set an “overweight” rating for the company in a research report on Tuesday. Eight research 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. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $124.67.

Chord Energy Stock Performance

Shares of Chord Energy stock traded up $1.44 on Wednesday, hitting $99.48. The stock had a trading volume of 12,344 shares, compared to its average volume of 757,325. The company’s 50 day moving average price is $93.37 and its 200 day moving average price is $97.73. The stock has a market cap of $5.66 billion, a price-to-earnings ratio of 38.25 and a beta of 0.92. Chord Energy has a 52-week low of $79.83 and a 52-week 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.

Chord Energy (NASDAQ:CHRD) last released its quarterly earnings data on Tuesday, November 4th. The company reported $2.35 earnings per share for the quarter, beating the consensus estimate of $2.24 by $0.11. The firm had revenue of $1.31 billion during the quarter, compared to the consensus estimate of $1.02 billion. Chord Energy had a return on equity of 8.27% and a net margin of 3.31%.Chord Energy’s quarterly revenue was up 17.0% on a year-over-year basis. During the same period last year, the business posted $3.40 EPS. On average, research analysts anticipate that Chord Energy will post 15.59 EPS for the current year.

Insiders Place Their Bets

In other Chord Energy news, Director Samantha Holroyd acquired 1,250 shares of the stock in a transaction dated Friday, November 7th. The stock was purchased at an average cost of $85.50 per share, with a total value of $106,875.00. Following the transaction, the director owned 17,706 shares in the company, valued at approximately $1,513,863. The trade was a 7.60% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. 0.70% of the stock is owned by insiders.

Institutional Investors Weigh In On Chord Energy

Several large investors have recently added to or reduced their stakes in the company. Assetmark Inc. lifted its position in Chord Energy by 7.3% during the second quarter. Assetmark Inc. now owns 1,417 shares of the company’s stock worth $137,000 after purchasing an additional 96 shares during the period. Lynx Investment Advisory lifted its holdings in shares of Chord Energy by 3.6% during the 2nd quarter. Lynx Investment Advisory now owns 2,847 shares of the company’s stock worth $276,000 after acquiring an additional 99 shares during the period. First Citizens Bank & Trust Co. boosted its position in shares of Chord Energy by 2.3% during the 3rd quarter. First Citizens Bank & Trust Co. now owns 5,306 shares of the company’s stock worth $527,000 after acquiring an additional 120 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in Chord Energy by 18.8% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 822 shares of the company’s stock valued at $82,000 after acquiring 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 valued at $30,000 after purchasing an additional 145 shares in the last quarter. Hedge funds and other institutional investors own 97.76% of the company’s stock.

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.