Wells Fargo & Company Forecasts Strong Price Appreciation for Chord Energy (NASDAQ:CHRD) Stock

Chord Energy (NASDAQ:CHRD) had its price objective hoisted by stock analysts at Wells Fargo & Company from $175.00 to $176.00 in a research report issued on Tuesday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Wells Fargo & Company‘s price objective would suggest a potential upside of 57.79% from the stock’s current price.

A number of other equities analysts have also issued reports on CHRD. Siebert Williams Shank upgraded shares of Chord Energy to a “strong-buy” rating in a research report on Tuesday, October 15th. Piper Sandler increased their price target on Chord Energy from $211.00 to $212.00 and gave the stock an “overweight” rating in a research note on Monday, November 18th. Jefferies Financial Group started coverage on Chord Energy in a report on Thursday, September 5th. They issued a “hold” rating and a $160.00 price objective on the stock. Truist Financial dropped their price objective on shares of Chord Energy from $223.00 to $185.00 and set a “buy” rating on the stock in a research note on Monday, September 30th. Finally, Bank of America raised their price objective on Chord Energy from $201.00 to $208.00 and gave the company a “buy” rating in a research note on Wednesday, August 21st. Two research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Chord Energy has an average rating of “Moderate Buy” and an average target price of $182.55.

Chord Energy Price Performance

Shares of CHRD stock opened at $111.54 on Tuesday. 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 company has a market cap of $6.82 billion, a P/E ratio of 5.74, a PEG ratio of 4.79 and a beta of 0.96. The stock’s 50-day moving average is $127.08 and its 200 day moving average is $145.54. Chord Energy has a 1-year low of $111.50 and a 1-year high of $190.23.

Chord Energy (NASDAQ:CHRD) last posted its quarterly earnings data on Wednesday, November 6th. The company reported $3.40 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.63 by ($0.23). The firm had revenue of $1.12 billion during the quarter, compared to analyst estimates of $1.26 billion. Chord Energy had a return on equity of 12.88% and a net margin of 19.74%. The company’s quarterly revenue was up 33.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $5.04 earnings per share. Research analysts predict that Chord Energy will post 16.5 earnings per share for the current fiscal year.

Insider Transactions at Chord Energy

In related news, CAO Shannon Browning Kinney sold 1,000 shares of Chord Energy stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $116.35, for a total value of $116,350.00. Following the completion of the sale, the chief accounting officer now owns 19,488 shares of the company’s stock, valued at approximately $2,267,428.80. This trade represents a 4.88 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.70% of the company’s stock.

Institutional Investors Weigh In On Chord Energy

A number of large investors have recently added to or reduced their stakes in the company. Hexagon Capital Partners LLC lifted its holdings in Chord Energy by 462.9% in the 3rd quarter. Hexagon Capital Partners LLC now owns 197 shares of the company’s stock worth $26,000 after buying an additional 162 shares during the period. Stone House Investment Management LLC purchased a new stake in Chord Energy during the 3rd quarter valued at $26,000. UMB Bank n.a. raised its holdings in shares of Chord Energy by 77.7% during the third quarter. UMB Bank n.a. now owns 231 shares of the company’s stock valued at $30,000 after purchasing an additional 101 shares during the last quarter. Spartan Fund Management Inc. bought a new position in shares of Chord Energy in the 3rd quarter worth approximately $34,000. Finally, Ashton Thomas Private Wealth LLC purchased a new stake in shares of Chord Energy in the 2nd quarter worth $40,000. Hedge funds and other 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.