Wells Fargo & Company Issues Pessimistic Forecast for Chord Energy (NASDAQ:CHRD) Stock Price

Chord Energy (NASDAQ:CHRD) had its price objective lowered by investment analysts at Wells Fargo & Company from $166.00 to $158.00 in a report released on Tuesday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Wells Fargo & Company‘s price target would indicate a potential upside of 73.93% from the company’s current price.

Several other research analysts have also weighed in on CHRD. Williams Trading set a $155.00 price objective on shares of Chord Energy in a report on Wednesday, March 5th. Truist Financial increased their price target on shares of Chord Energy from $185.00 to $186.00 and gave the stock a “buy” rating in a research note on Monday, January 13th. Wolfe Research raised shares of Chord Energy from a “peer perform” rating to an “outperform” rating and set a $155.00 price objective for the company in a research note on Friday, January 3rd. Piper Sandler cut their target price on Chord Energy from $193.00 to $184.00 and set an “overweight” rating on the stock in a research report on Thursday, March 6th. Finally, Morgan Stanley set a $139.00 price target on Chord Energy and gave the company a “cautious” rating in a research report on Wednesday, March 26th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $157.00.

Chord Energy Trading Up 2.8 %

Shares of CHRD opened at $90.84 on Tuesday. Chord Energy has a fifty-two week low of $79.83 and a fifty-two week high of $188.02. The company has a market capitalization of $5.40 billion, a PE ratio of 4.68, a price-to-earnings-growth ratio of 5.83 and a beta of 0.96. The stock has a fifty day moving average of $105.26 and a two-hundred day moving average of $117.45. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.89 and a current ratio of 0.93.

Institutional Trading of Chord Energy

A number of hedge funds have recently made changes to their positions in CHRD. Pacer Advisors Inc. boosted its stake in shares of Chord Energy by 50.4% in the fourth quarter. Pacer Advisors Inc. now owns 1,872,156 shares of the company’s stock valued at $218,892,000 after purchasing an additional 627,122 shares during the period. Victory Capital Management Inc. grew its stake in shares of Chord Energy by 27.6% during the fourth quarter. Victory Capital Management Inc. now owns 2,864,456 shares of the company’s stock valued at $334,912,000 after acquiring an additional 619,021 shares in the last quarter. FMR LLC increased its holdings in Chord Energy by 11.5% during the 4th quarter. FMR LLC now owns 3,814,384 shares of the company’s stock worth $445,978,000 after purchasing an additional 394,372 shares during the last quarter. Encompass Capital Advisors LLC purchased a new position in shares of Chord Energy during the 4th quarter valued at approximately $43,745,000. Finally, Squarepoint Ops LLC grew its position in shares of Chord Energy by 365.5% during the fourth quarter. Squarepoint Ops LLC now owns 337,284 shares of the company’s stock worth $39,435,000 after buying an additional 264,828 shares in the last quarter. Hedge funds and other institutional investors own 97.76% of the company’s stock.

About Chord Energy

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.