Chord Energy (NASDAQ:CHRD) Stock Price Expected to Rise, Mizuho Analyst Says

Chord Energy (NASDAQ:CHRD) had its price target increased by analysts at Mizuho from $162.00 to $164.00 in a report released on Wednesday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Mizuho’s target price would suggest a potential upside of 15.79% from the stock’s current price.

Several other research analysts have also weighed in on CHRD. Wells Fargo & Company upped their price objective on shares of Chord Energy from $136.00 to $175.00 and gave the company an “overweight” rating in a research note on Wednesday, April 8th. Truist Financial boosted their target price on Chord Energy from $169.00 to $187.00 and gave the company a “buy” rating in a research note on Monday, April 13th. Weiss Ratings raised Chord Energy from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Tuesday, March 17th. Pickering Energy Partners downgraded Chord Energy from an “outperform” rating to a “neutral” rating in a report on Friday, January 9th. Finally, Scotiabank raised their price objective on shares of Chord Energy from $114.00 to $135.00 and gave the company a “sector perform” rating in a research report on Wednesday, April 22nd. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $153.46.

Chord Energy Stock Performance

Shares of Chord Energy stock opened at $141.64 on Wednesday. Chord Energy has a 12 month low of $84.25 and a 12 month high of $150.50. The company has a quick ratio of 0.98, a current ratio of 1.06 and a debt-to-equity ratio of 0.18. The stock has a market cap of $8.03 billion, a PE ratio of 224.45 and a beta of 0.52. The business has a fifty day simple moving average of $129.95 and a 200-day simple moving average of $106.64.

Chord Energy (NASDAQ:CHRD) last posted its quarterly earnings results on Tuesday, May 5th. The company reported $4.56 earnings per share for the quarter, beating the consensus estimate of $3.49 by $1.07. The firm had revenue of $1.67 billion for the quarter, compared to analyst estimates of $1.21 billion. Chord Energy had a return on equity of 6.71% and a net margin of 0.91%.Chord Energy’s quarterly revenue was up 37.1% on a year-over-year basis. During the same period in the previous year, the firm earned $4.04 earnings per share. On average, sell-side analysts anticipate that Chord Energy will post 16.94 EPS for the current fiscal year.

Insider Activity at Chord Energy

In other news, EVP Michael H. Lou sold 15,000 shares of the stock in a transaction that occurred on Thursday, March 12th. The shares were sold at an average price of $125.47, for a total transaction of $1,882,050.00. Following the sale, the executive vice president directly owned 82,699 shares of the company’s stock, valued at $10,376,243.53. This represents a 15.35% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Shannon Browning Kinney sold 1,801 shares of the business’s stock in a transaction that occurred on Tuesday, March 3rd. The stock was sold at an average price of $114.36, for a total transaction of $205,962.36. Following the completion of the transaction, the executive vice president owned 20,188 shares of the company’s stock, valued at $2,308,699.68. This trade represents a 8.19% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 23,927 shares of company stock valued at $2,912,028. Insiders own 0.79% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of CHRD. V Square Quantitative Management LLC bought a new stake in shares of Chord Energy during the first quarter worth approximately $29,000. Root Financial Partners LLC raised its position in shares of Chord Energy by 178.6% during the 1st quarter. Root Financial Partners LLC now owns 234 shares of the company’s stock valued at $33,000 after acquiring an additional 150 shares during the last quarter. WealthCollab LLC boosted its position in shares of Chord Energy by 90.6% in the 2nd quarter. WealthCollab LLC now owns 305 shares of the company’s stock worth $30,000 after purchasing an additional 145 shares during the last quarter. Quent Capital LLC acquired a new stake in shares of Chord Energy during the third quarter worth $32,000. Finally, Pilgrim Partners Asia Pte Ltd bought a new stake in Chord Energy in the third quarter valued at about $46,000. Institutional investors 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.