Chord Energy (NASDAQ:CHRD) Price Target Cut to $130.00 by Analysts at Citigroup

Chord Energy (NASDAQ:CHRD) had its price objective reduced by analysts at Citigroup from $155.00 to $130.00 in a research report issued on Friday,Benzinga reports. The firm presently has a “neutral” rating on the stock. Citigroup’s price target indicates a potential upside of 11.16% from the stock’s current price.

Several other analysts have also commented on the company. Zacks Research lowered Chord Energy from a “strong-buy” rating to a “hold” rating in a report on Tuesday, June 9th. Morgan Stanley decreased their price target on Chord Energy from $175.00 to $169.00 and set an “overweight” rating for the company in a report on Monday, June 29th. UBS Group set a $153.00 price objective on shares of Chord Energy in a research note on Friday. Mizuho boosted their target price on shares of Chord Energy from $164.00 to $175.00 and gave the company an “outperform” rating in a research note on Wednesday, May 27th. Finally, Wells Fargo & Company increased their price target on shares of Chord Energy from $136.00 to $175.00 and gave the stock an “overweight” rating in a report on Wednesday, April 8th. Eleven investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $152.00.

Chord Energy Stock Performance

Chord Energy stock traded down $1.53 during mid-day trading on Friday, reaching $116.94. 146,883 shares of the company traded hands, compared to its average volume of 927,323. Chord Energy has a fifty-two week low of $84.25 and a fifty-two week high of $151.95. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.02 and a quick ratio of 0.96. The company has a market capitalization of $6.58 billion, a price-to-earnings ratio of -103.58 and a beta of 0.49. The firm’s fifty day moving average is $132.49 and its two-hundred day moving average is $119.70.

Chord Energy (NASDAQ:CHRD) last announced its quarterly earnings results on Tuesday, May 5th. The company reported $4.56 earnings per share for the quarter, topping the consensus estimate of $3.51 by $1.05. The company had revenue of $1.67 billion for the quarter, compared to the consensus estimate of $1.21 billion. Chord Energy had a positive return on equity of 7.06% and a negative net margin of 1.25%.The firm’s revenue for the quarter was up 37.1% compared to the same quarter last year. During the same period last year, the firm earned $4.04 EPS. On average, equities research analysts expect that Chord Energy will post 18.5 earnings per share for the current fiscal year.

Insider Activity

In other Chord Energy news, COO Darrin J. Henke sold 1,276 shares of Chord Energy stock in a transaction dated Friday, May 15th. The stock was sold at an average price of $145.97, for a total transaction of $186,257.72. Following the completion of the sale, the chief operating officer directly owned 21,157 shares of the company’s stock, valued at $3,088,287.29. The trade was a 5.69% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Douglas E. Brooks sold 3,500 shares of Chord Energy stock in a transaction on Friday, May 8th. The shares were sold at an average price of $136.71, for a total transaction of $478,485.00. Following the completion of the transaction, the director directly owned 20,205 shares in the company, valued at $2,762,225.55. The trade was a 14.76% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 9,276 shares of company stock worth $1,285,968. 0.79% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Chord Energy

Hedge funds and other institutional investors have recently bought and sold shares of the company. Bessemer Group Inc. increased its position in Chord Energy by 63.8% during the first quarter. Bessemer Group Inc. now owns 190 shares of the company’s stock worth $27,000 after purchasing an additional 74 shares during the last quarter. Blue Trust Inc. lifted its stake in shares of Chord Energy by 22.2% in the 1st quarter. Blue Trust Inc. now owns 463 shares of the company’s stock valued at $66,000 after purchasing an additional 84 shares in the last quarter. SBI Securities Co. Ltd. grew its holdings in shares of Chord Energy by 16.5% during the 4th quarter. SBI Securities Co. Ltd. now owns 797 shares of the company’s stock worth $74,000 after purchasing an additional 113 shares during the period. WealthCollab LLC grew 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 worth $30,000 after purchasing an additional 145 shares during the period. Finally, Root Financial Partners LLC increased its position in Chord Energy by 178.6% during the 1st quarter. Root Financial Partners LLC now owns 234 shares of the company’s stock worth $33,000 after purchasing an additional 150 shares in the last quarter. 97.76% of the stock is currently owned by hedge funds and other institutional investors.

Chord Energy Company Profile

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.