Royal Bank of Canada Lowers Chord Energy (NASDAQ:CHRD) Price Target to $145.00

Chord Energy (NASDAQ:CHRD) had its price objective reduced by equities research analysts at Royal Bank of Canada from $165.00 to $145.00 in a report issued on Friday,Benzinga reports. The firm currently has an “outperform” rating on the stock. Royal Bank of Canada’s price target points to a potential upside of 71.46% from the stock’s current price.

CHRD has been the subject of a number of other reports. Williams Trading set a $155.00 target price on shares of Chord Energy in a report on Wednesday, March 5th. Citigroup cut their price target on Chord Energy from $135.00 to $120.00 and set a “buy” rating for the company in a report on Monday. Morgan Stanley set a $139.00 price objective on Chord Energy and gave the company a “cautious” rating in a research note on Wednesday, March 26th. Mizuho decreased their target price on shares of Chord Energy from $192.00 to $178.00 and set an “outperform” rating on the stock in a research note on Monday, December 16th. Finally, Piper Sandler reduced their price objective on shares of Chord Energy from $193.00 to $184.00 and set an “overweight” rating for the company in a research note on Thursday, March 6th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Chord Energy presently has a consensus rating of “Moderate Buy” and an average price target of $157.62.

Chord Energy Stock Performance

Chord Energy stock traded down $1.32 during mid-day trading on Friday, reaching $84.57. 254,364 shares of the stock traded hands, compared to its average volume of 964,117. The stock has a market capitalization of $5.03 billion, a PE ratio of 4.36, a price-to-earnings-growth ratio of 5.83 and a beta of 0.96. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.93 and a quick ratio of 0.89. The business’s 50-day moving average is $106.56 and its 200-day moving average is $118.31. Chord Energy has a 12-month low of $79.83 and a 12-month high of $190.23.

Hedge Funds Weigh In On Chord Energy

Several hedge funds have recently added to or reduced their stakes in the company. Altshuler Shaham Ltd purchased a new position in shares of Chord Energy during the fourth quarter valued at approximately $25,000. Brooklyn Investment Group bought a new position in Chord Energy in the 4th quarter valued at $29,000. Twin Tree Management LP bought a new stake in shares of Chord Energy during the fourth quarter worth $33,000. Larson Financial Group LLC grew its holdings in shares of Chord Energy by 238.3% in the fourth quarter. Larson Financial Group LLC now owns 318 shares of the company’s stock worth $37,000 after purchasing an additional 224 shares during the last quarter. Finally, R Squared Ltd purchased a new position in Chord Energy in the 4th quarter worth about $51,000. 97.76% of the stock is currently owned by institutional investors.

About Chord Energy

Chord Energy Corporation operates as an independent exploration and production company in the United States. It acquires, explores, develops, and produces crude oil, natural gas, and natural gas liquids in the Williston Basin. The company sells its products to refiners, marketers, and other purchasers that have access to nearby pipeline and rail facilities.