Brokerages Set Chord Energy Corporation (NASDAQ:CHRD) Price Target at $124.67

Shares of Chord Energy Corporation (NASDAQ:CHRD) have received a consensus recommendation of “Moderate Buy” from the fourteen analysts that are covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, five have assigned a hold recommendation and eight have given a buy recommendation to the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $123.9167.

CHRD has been the topic of a number of research reports. Wells Fargo & Company lowered their price target on Chord Energy from $113.00 to $109.00 and set an “overweight” rating on the stock in a report on Tuesday, January 27th. Scotiabank reiterated a “sector perform” rating and issued a $114.00 target price on shares of Chord Energy in a research note on Friday, January 16th. Morgan Stanley cut their price target on Chord Energy from $123.00 to $114.00 and set an “equal weight” rating for the company in a research note on Friday, January 23rd. Jefferies Financial Group set a $99.00 price target on Chord Energy in a report on Saturday, January 17th. Finally, Piper Sandler dropped their price objective on shares of Chord Energy from $160.00 to $151.00 and set an “overweight” rating on the stock in a research note on Wednesday.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. Bayforest Capital Ltd purchased a new stake in Chord Energy in the 2nd quarter valued at approximately $28,000. WealthCollab LLC lifted its holdings in shares of Chord Energy by 90.6% in the 2nd quarter. WealthCollab LLC now owns 305 shares of the company’s stock valued at $30,000 after buying an additional 145 shares during the period. Quent Capital LLC purchased a new stake in shares of Chord Energy in the third quarter valued at approximately $32,000. Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in shares of Chord Energy by 91.2% in the second quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 411 shares of the company’s stock valued at $40,000 after buying an additional 196 shares in the last quarter. Finally, Pilgrim Partners Asia Pte Ltd acquired a new position in Chord Energy during the third quarter worth $46,000. 97.76% of the stock is owned by hedge funds and other institutional investors.

Chord Energy Stock Up 3.7%

Shares of NASDAQ:CHRD opened at $104.16 on Friday. Chord Energy has a 1-year low of $79.83 and a 1-year high of $116.09. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.35 and a quick ratio of 1.28. The stock has a market cap of $5.92 billion, a P/E ratio of 40.06 and a beta of 0.92. The firm has a fifty day moving average price of $95.00 and a 200 day moving average price of $97.29.

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.