Chord Energy (NASDAQ:CHRD) Given New $165.00 Price Target at Piper Sandler

Chord Energy (NASDAQ:CHRD) had its price objective reduced by research analysts at Piper Sandler from $167.00 to $165.00 in a research note issued on Tuesday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Piper Sandler’s price target indicates a potential upside of 81.86% from the company’s current price.

CHRD has been the topic of several other research reports. Bank of America upped their price objective on Chord Energy from $112.00 to $123.00 and gave the company a “buy” rating in a research report on Wednesday, September 17th. Wall Street Zen cut shares of Chord Energy from a “hold” rating to a “sell” rating in a report on Saturday, November 1st. Morgan Stanley reduced their price target on shares of Chord Energy from $131.00 to $128.00 and set an “equal weight” rating on the stock in a research note on Tuesday, October 14th. Wells Fargo & Company boosted their price objective on shares of Chord Energy from $108.00 to $113.00 and gave the company an “overweight” rating in a research report on Friday. Finally, Scotiabank assumed coverage on shares of Chord Energy in a research report on Friday, September 19th. They set a “sector perform” rating and a $120.00 target price on the stock. Ten investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $138.08.

Chord Energy Trading Up 0.6%

NASDAQ:CHRD traded up $0.56 during mid-day trading on Tuesday, hitting $90.73. 188,529 shares of the stock traded hands, compared to its average volume of 831,177. The company has a quick ratio of 1.28, a current ratio of 1.35 and a debt-to-equity ratio of 0.18. Chord Energy has a 52 week low of $79.83 and a 52 week high of $134.54. The stock has a market capitalization of $5.16 billion, a price-to-earnings ratio of 34.82 and a beta of 0.92. The firm’s 50 day moving average is $95.50 and its two-hundred day moving average is $99.35.

Chord Energy (NASDAQ:CHRD) last announced its quarterly earnings data on Tuesday, November 4th. The company reported $2.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.24 by $0.11. The business had revenue of $1.31 billion during the quarter, compared to the consensus estimate of $1.02 billion. Chord Energy had a net margin of 3.31% and a return on equity of 8.27%. The firm’s quarterly revenue was up 17.0% compared to the same quarter last year. During the same quarter last year, the firm earned $3.40 earnings per share. On average, equities research analysts predict that Chord Energy will post 15.59 earnings per share for the current year.

Insider Buying and Selling at Chord Energy

In other Chord Energy news, EVP Shannon Browning Kinney sold 3,019 shares of Chord Energy stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $105.43, for a total value of $318,293.17. Following the transaction, the executive vice president owned 14,650 shares in the company, valued at $1,544,549.50. The trade was a 17.09% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Samantha Holroyd purchased 1,250 shares of the firm’s stock in a transaction on Friday, November 7th. The shares were purchased at an average cost of $85.50 per share, with a total value of $106,875.00. Following the completion of the transaction, the director owned 17,706 shares of the company’s stock, valued at approximately $1,513,863. The trade was a 7.60% increase in their position. The SEC filing for this purchase provides additional information. Insiders own 0.70% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the company. Bayforest Capital Ltd purchased a new stake in Chord Energy during the second quarter valued at approximately $28,000. WealthCollab LLC lifted its holdings in shares of Chord Energy by 90.6% during 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 purchased a new stake in shares of Chord Energy during the 3rd quarter valued at $32,000. Mitsubishi UFJ Asset Management Co. Ltd. boosted its position 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 worth $40,000 after purchasing an additional 196 shares in the last quarter. Finally, Pilgrim Partners Asia Pte Ltd purchased a new position in Chord Energy during the 3rd quarter worth $46,000. Institutional investors own 97.76% of the company’s stock.

Chord Energy Company Profile

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.