UBS Group Issues Positive Forecast for Chord Energy (NASDAQ:CHRD) Stock Price

Chord Energy (NASDAQ:CHRD) had its price target upped by stock analysts at UBS Group from $119.00 to $142.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. UBS Group’s target price would indicate a potential upside of 17.40% from the company’s previous close.

A number of other analysts also recently commented on the stock. Jefferies Financial Group set a $99.00 price target on shares of Chord Energy in a research report on Saturday, January 17th. William Blair began coverage on Chord Energy in a research note on Friday, November 21st. They issued an “outperform” rating on the stock. Pickering Energy Partners cut Chord Energy from an “outperform” rating to a “neutral” rating in a research note on Friday, January 9th. Zacks Research lowered Chord Energy from a “hold” rating to a “strong sell” rating in a report on Tuesday, January 20th. Finally, Scotiabank reissued a “sector perform” rating and issued a $114.00 price target on shares of Chord Energy in a report on Friday, January 16th. Eight equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $123.82.

Chord Energy Stock Performance

CHRD traded up $6.95 on Thursday, hitting $120.95. 768,587 shares of the company’s stock were exchanged, compared to its average volume of 870,517. The company has a current ratio of 1.06, a quick ratio of 0.98 and a debt-to-equity ratio of 0.18. The stock has a fifty day moving average of $98.23 and a two-hundred day moving average of $97.32. Chord Energy has a twelve month low of $79.83 and a twelve month high of $121.05. The firm has a market cap of $6.87 billion, a PE ratio of 191.98 and a beta of 0.84.

Chord Energy (NASDAQ:CHRD) last released its quarterly earnings results on Wednesday, February 25th. The company reported $1.28 EPS for the quarter, topping the consensus estimate of $1.17 by $0.11. Chord Energy had a net margin of 0.91% and a return on equity of 6.71%. The business had revenue of $1.17 billion during the quarter, compared to analyst estimates of $1.03 billion. During the same quarter in the prior year, the firm earned $3.49 earnings per share. The company’s quarterly revenue was down 19.6% on a year-over-year basis. On average, research analysts anticipate that Chord Energy will post 15.59 earnings per share for the current fiscal year.

Institutional Trading of Chord Energy

Several large investors have recently added to or reduced their stakes in the business. WealthCollab LLC lifted 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. Quent Capital LLC bought a new stake in shares of Chord Energy during the 3rd quarter worth about $32,000. Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in shares of Chord Energy by 91.2% in the 2nd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 411 shares of the company’s stock valued at $40,000 after acquiring an additional 196 shares in the last quarter. Pilgrim Partners Asia Pte Ltd acquired a new stake in Chord Energy in the 3rd quarter worth approximately $46,000. Finally, Triumph Capital Management acquired a new stake in shares of Chord Energy in the third quarter valued at about $56,000. 97.76% of the stock is owned by institutional investors.

About Chord Energy

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.