Truist Financial Has Lowered Expectations for Chord Energy (NASDAQ:CHRD) Stock Price

Chord Energy (NASDAQ:CHRD) had its price objective cut by equities research analysts at Truist Financial from $187.00 to $185.00 in a note issued to investors on Friday,Benzinga reports. The firm currently has a “buy” rating on the stock. Truist Financial’s target price indicates a potential upside of 34.65% from the stock’s current price.

Other equities research analysts also recently issued research reports about the stock. Scotiabank raised their price objective on shares of Chord Energy from $114.00 to $135.00 and gave the stock a “sector perform” rating in a research note on Wednesday, April 22nd. Morgan Stanley raised shares of Chord Energy from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $114.00 to $168.00 in a report on Friday, March 27th. Mizuho raised their price target on shares of Chord Energy from $162.00 to $164.00 and gave the stock an “outperform” rating in a research report on Wednesday. Royal Bank Of Canada cut their price objective on shares of Chord Energy from $135.00 to $128.00 and set an “outperform” rating for the company in a research report on Tuesday, January 13th. Finally, Pickering Energy Partners cut shares of Chord Energy from an “outperform” rating to a “neutral” rating in a research note on Friday, January 9th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Chord Energy presently has an average rating of “Moderate Buy” and a consensus price target of $156.15.

Chord Energy Stock Performance

Chord Energy stock traded down $0.36 on Friday, reaching $137.39. 222,591 shares of the stock were exchanged, compared to its average volume of 982,296. Chord Energy has a twelve month low of $84.25 and a twelve month high of $150.50. The company has a current ratio of 1.02, a quick ratio of 0.98 and a debt-to-equity ratio of 0.18. The stock has a market cap of $7.79 billion, a PE ratio of -121.61 and a beta of 0.52. The firm has a fifty day moving average price of $131.32 and a two-hundred day moving average price of $107.34.

Chord Energy (NASDAQ:CHRD) last released its earnings results on Tuesday, May 5th. The company reported $4.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.51 by $1.05. The firm had revenue of $1.67 billion for the quarter, compared to analyst estimates of $1.21 billion. Chord Energy had a positive return on equity of 7.06% and a negative net margin of 1.25%.The company’s revenue was up 37.1% on a year-over-year basis. During the same quarter last year, the firm posted $4.04 EPS. Sell-side analysts anticipate that Chord Energy will post 16.94 EPS for the current year.

Insiders Place Their Bets

In other news, CAO Lara J. Kroll sold 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 3rd. The shares were sold at an average price of $113.66, for a total transaction of $568,300.00. Following the transaction, the chief accounting officer directly owned 8,921 shares in the company, valued at approximately $1,013,960.86. This represents a 35.92% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Shannon Browning Kinney sold 1,801 shares of the stock in a transaction that occurred on Tuesday, March 3rd. The shares were sold at an average price of $114.36, for a total transaction of $205,962.36. Following the sale, the executive vice president directly owned 20,188 shares in the company, valued at $2,308,699.68. This trade represents a 8.19% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 23,927 shares of company stock worth $2,912,028 over the last ninety days. Company insiders own 0.79% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Bessemer Group Inc. lifted its stake in shares of Chord Energy by 63.8% during the first quarter. Bessemer Group Inc. now owns 190 shares of the company’s stock valued at $27,000 after acquiring an additional 74 shares during the period. V Square Quantitative Management LLC bought a new stake in Chord Energy during the 1st quarter worth about $29,000. Root Financial Partners LLC lifted its position in Chord Energy by 178.6% during the 1st quarter. Root Financial Partners LLC now owns 234 shares of the company’s stock valued at $33,000 after purchasing an additional 150 shares during the period. WealthCollab LLC boosted its stake in shares of Chord Energy by 90.6% in the 2nd quarter. WealthCollab LLC now owns 305 shares of the company’s stock valued at $30,000 after purchasing an additional 145 shares during the last quarter. Finally, Quent Capital LLC acquired a new stake in shares of Chord Energy during the 3rd quarter worth approximately $32,000. 97.76% of the stock is currently 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.