Chord Energy (NASDAQ:CHRD) Now Covered by Analysts at Truist Financial

Research analysts at Truist Financial initiated coverage on shares of Chord Energy (NASDAQ:CHRD) in a report issued on Tuesday. The firm set a “buy” rating and a $169.00 price target on the stock. Truist Financial’s price target points to a potential upside of 29.25% from the stock’s previous close.

Other research analysts have also issued reports about the stock. Mizuho set a $148.00 price target on shares of Chord Energy in a research note on Friday, January 9th. Morgan Stanley dropped their price objective on shares of Chord Energy from $123.00 to $114.00 and set an “equal weight” rating on the stock in a research note on Friday, January 23rd. Scotiabank reaffirmed a “sector perform” rating and set a $114.00 target price on shares of Chord Energy in a research note on Friday, January 16th. Royal Bank Of Canada lowered their target price on shares of Chord Energy from $135.00 to $128.00 and set an “outperform” rating for the company in a report on Tuesday, January 13th. Finally, Weiss Ratings raised Chord Energy from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Tuesday, March 17th. Nine equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat.com, Chord Energy presently has a consensus rating of “Moderate Buy” and a consensus price target of $134.42.

Chord Energy Trading Down 0.9%

NASDAQ CHRD opened at $130.75 on Tuesday. The firm has a market capitalization of $7.41 billion, a PE ratio of 207.54 and a beta of 0.84. The stock’s 50 day moving average is $107.01 and its 200 day moving average is $98.99. Chord Energy has a twelve month low of $79.83 and a twelve month high of $133.29. 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 (NASDAQ:CHRD) last posted its quarterly earnings data on Wednesday, February 25th. The company reported $1.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.17 by $0.11. The business had revenue of $1.17 billion during the quarter, compared to the consensus estimate of $1.03 billion. Chord Energy had a return on equity of 6.71% and a net margin of 0.91%.The firm’s quarterly revenue was down 19.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $3.49 earnings per share. Research analysts forecast that Chord Energy will post 15.59 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Michael H. Lou sold 15,000 shares of the business’s stock in a transaction on Thursday, March 12th. The stock was sold at an average price of $125.47, for a total value of $1,882,050.00. Following the completion of the transaction, the executive vice president owned 82,699 shares in the company, valued at $10,376,243.53. The trade was a 15.35% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Shannon Browning Kinney sold 1,801 shares of the company’s stock in a transaction on Tuesday, March 3rd. The shares were sold at an average price of $114.36, for a total value of $205,962.36. Following the transaction, the executive vice president directly owned 20,188 shares in the company, valued at approximately $2,308,699.68. The trade was a 8.19% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 23,927 shares of company stock worth $2,912,028 over the last three months. Company insiders own 0.70% of the company’s stock.

Hedge Funds Weigh In On Chord Energy

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. WealthCollab LLC grew its stake in shares of Chord Energy by 90.6% in the second quarter. WealthCollab LLC now owns 305 shares of the company’s stock worth $30,000 after acquiring an additional 145 shares during the period. Quent Capital LLC purchased a new position in shares of Chord Energy during the third quarter valued at approximately $32,000. Pilgrim Partners Asia Pte Ltd bought a new position in Chord Energy during the third quarter valued at approximately $46,000. Rockefeller Capital Management L.P. boosted its holdings in Chord Energy by 213.1% in the fourth quarter. Rockefeller Capital Management L.P. now owns 501 shares of the company’s stock worth $47,000 after purchasing an additional 341 shares during the last quarter. Finally, Triumph Capital Management purchased a new stake in Chord Energy in the third quarter worth approximately $56,000. 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.