Chord Energy (NASDAQ:CHRD) Price Target Raised to $175.00 at Mizuho

Chord Energy (NASDAQ:CHRD) had its price objective hoisted by Mizuho from $164.00 to $175.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Mizuho’s target price indicates a potential upside of 26.94% from the company’s previous close.

Several other equities research analysts have also recently commented on the company. Morgan Stanley increased their price objective on Chord Energy from $168.00 to $175.00 and gave the company an “overweight” rating in a research report on Friday, May 22nd. Wells Fargo & Company raised their target price on Chord Energy from $136.00 to $175.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 8th. Weiss Ratings raised Chord Energy from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Tuesday, March 17th. Wall Street Zen raised Chord Energy from a “hold” rating to a “buy” rating in a research report on Saturday, May 9th. Finally, Truist Financial dropped their target price on Chord Energy from $187.00 to $185.00 and set a “buy” rating on the stock in a research report on Friday, May 8th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $157.54.

Chord Energy Trading Down 4.3%

NASDAQ CHRD opened at $137.86 on Wednesday. Chord Energy has a 12 month low of $84.25 and a 12 month high of $151.95. The stock has a market cap of $7.76 billion, a P/E ratio of -122.00 and a beta of 0.52. The stock’s fifty day moving average price is $138.39 and its 200-day moving average price is $112.20. The company has a current ratio of 1.02, a quick ratio of 0.96 and a debt-to-equity ratio of 0.18.

Chord Energy (NASDAQ:CHRD) last released its quarterly earnings data on Tuesday, May 5th. The company reported $4.56 EPS for the quarter, beating the consensus estimate of $3.51 by $1.05. Chord Energy had a positive return on equity of 7.06% and a negative net margin of 1.25%.The company had revenue of $1.67 billion for the quarter, compared to analysts’ expectations of $1.21 billion. During the same period last year, the firm posted $4.04 earnings per share. Chord Energy’s revenue was up 37.1% compared to the same quarter last year. As a group, equities analysts forecast that Chord Energy will post 20.53 EPS for the current fiscal year.

Insider Transactions at Chord Energy

In related news, COO Darrin J. Henke sold 1,276 shares of Chord Energy stock in a transaction that occurred on Friday, May 15th. The stock was sold at an average price of $145.97, for a total transaction of $186,257.72. Following the sale, the chief operating officer owned 21,157 shares of the company’s stock, valued at approximately $3,088,287.29. This trade represents a 5.69% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Shannon Browning Kinney sold 1,801 shares of Chord Energy stock in a transaction that occurred on Tuesday, March 3rd. The shares were sold at an average price of $114.36, for a total value of $205,962.36. Following the sale, the executive vice president directly owned 20,188 shares in the company, valued at $2,308,699.68. This trade represents a 8.19% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 33,203 shares of company stock valued at $4,197,995. Company insiders own 0.79% of the company’s stock.

Institutional Trading of Chord Energy

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Victory Capital Management Inc. raised its stake in Chord Energy by 5.4% during the 3rd quarter. Victory Capital Management Inc. now owns 3,166,564 shares of the company’s stock valued at $314,661,000 after purchasing an additional 163,125 shares during the period. Geode Capital Management LLC increased its stake in Chord Energy by 15.6% in the 4th quarter. Geode Capital Management LLC now owns 2,053,045 shares of the company’s stock worth $190,346,000 after acquiring an additional 277,588 shares during the last quarter. Wellington Management Group LLP increased its stake in Chord Energy by 6.1% in the 4th quarter. Wellington Management Group LLP now owns 1,809,526 shares of the company’s stock worth $167,743,000 after acquiring an additional 104,373 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in Chord Energy by 27.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,547,732 shares of the company’s stock worth $220,078,000 after acquiring an additional 329,565 shares during the last quarter. Finally, Adage Capital Partners GP L.L.C. increased its stake in Chord Energy by 18.4% in the 4th quarter. Adage Capital Partners GP L.L.C. now owns 1,243,850 shares of the company’s stock worth $115,305,000 after acquiring an additional 193,469 shares during the last quarter. 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.