Brokerages Set Chord Energy Corporation (NASDAQ:CHRD) Target Price at $152.38

Chord Energy Corporation (NASDAQ:CHRD) has been assigned a consensus recommendation of “Moderate Buy” from the sixteen analysts that are currently covering the stock, MarketBeat Ratings reports. Five research analysts have rated the stock with a hold recommendation and eleven have assigned a buy recommendation to the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $152.3846.

Several analysts recently weighed in on CHRD shares. Wall Street Zen lowered Chord Energy from a “strong-buy” rating to a “buy” rating in a report on Saturday, June 27th. Truist Financial decreased their target price on Chord Energy from $185.00 to $170.00 and set a “buy” rating for the company in a research report on Tuesday, July 7th. Roth Capital reiterated a “buy” rating and issued a $145.00 price target on shares of Chord Energy in a report on Wednesday, July 15th. Scotiabank upped their price target on Chord Energy from $114.00 to $135.00 and gave the company a “sector perform” rating in a research report on Wednesday, April 22nd. Finally, Zacks Research cut Chord Energy from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, June 9th.

Chord Energy Trading Down 0.7%

NASDAQ CHRD opened at $139.33 on Friday. The company has a market capitalization of $7.84 billion, a price-to-earnings ratio of -123.30 and a beta of 0.48. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.02 and a quick ratio of 0.96. Chord Energy has a 12 month low of $84.25 and a 12 month high of $151.95. The company’s fifty day moving average price is $128.16 and its two-hundred day moving average price is $124.44.

Chord Energy (NASDAQ:CHRD) last released its earnings results on Tuesday, May 5th. The company reported $4.56 earnings per share for the quarter, topping the consensus estimate of $3.51 by $1.05. Chord Energy had a negative net margin of 1.25% and a positive return on equity of 7.06%. The company had revenue of $1.67 billion during the quarter, compared to the consensus estimate of $1.21 billion. During the same quarter in the previous year, the firm earned $4.04 EPS. The company’s revenue was up 37.1% on a year-over-year basis. As a group, research analysts predict that Chord Energy will post 18.32 earnings per share for the current fiscal year.

Insider Buying and Selling at Chord Energy

In other Chord Energy news, Director Douglas E. Brooks sold 1,500 shares of the business’s stock in a transaction on Monday, May 11th. The shares were sold at an average price of $138.57, for a total transaction of $207,855.00. Following the completion of the sale, the director owned 18,705 shares in the company, valued at $2,591,951.85. The trade was a 7.42% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Darrin J. Henke sold 1,276 shares of the firm’s stock in a transaction dated Friday, May 15th. The stock was sold at an average price of $145.97, for a total transaction of $186,257.72. Following the completion of the transaction, the chief operating officer owned 21,157 shares in the company, valued at approximately $3,088,287.29. The trade was a 5.69% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 9,276 shares of company stock valued at $1,285,968. 0.79% of the stock is owned by insiders.

Institutional Investors Weigh In On Chord Energy

Several institutional investors and hedge funds have recently bought and sold shares of CHRD. Orion Porfolio Solutions LLC boosted its position in Chord Energy by 6,714.2% during the 2nd quarter. Orion Porfolio Solutions LLC now owns 709,086 shares of the company’s stock valued at $68,675,000 after purchasing an additional 698,680 shares during the period. Dimensional Fund Advisors LP grew its stake in Chord Energy by 85.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,218,167 shares of the company’s stock worth $112,927,000 after buying an additional 561,899 shares during the last quarter. AQR Capital Management LLC grew its stake in Chord Energy by 210.5% during the 2nd quarter. AQR Capital Management LLC now owns 734,225 shares of the company’s stock worth $71,110,000 after buying an additional 497,789 shares during the last quarter. Jennison Associates LLC acquired a new stake in Chord Energy in the first quarter worth $60,190,000. Finally, First Trust Advisors LP increased its position in Chord Energy by 98.2% in the first quarter. First Trust Advisors LP now owns 579,920 shares of the company’s stock worth $82,453,000 after buying an additional 287,340 shares during the period. Institutional investors and hedge funds own 97.76% of the company’s stock.

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.