Chord Energy (NASDAQ:CHRD) Raised to Hold at Wall Street Zen

Chord Energy (NASDAQ:CHRD) was upgraded by analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research note issued on Saturday.

Several other research analysts also recently weighed in on CHRD. Mizuho cut their price target on Chord Energy from $152.00 to $142.00 and set an “outperform” rating for the company in a report on Monday, September 15th. Roth Capital began coverage on Chord Energy in a research note on Monday, October 13th. They issued a “buy” rating and a $130.00 target price for the company. UBS Group increased their target price on Chord Energy from $122.00 to $130.00 and gave the stock a “buy” rating in a research report on Tuesday, September 16th. Weiss Ratings restated a “hold (c-)” rating on shares of Chord Energy in a report on Wednesday, October 8th. Finally, Royal Bank Of Canada reiterated an “outperform” rating and set a $130.00 price objective on shares of Chord Energy in a report on Monday, October 6th. Ten equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $138.38.

Chord Energy Trading Up 0.7%

Chord Energy stock opened at $89.74 on Friday. The stock has a market cap of $5.14 billion, a PE ratio of 22.83 and a beta of 0.94. The company has a current ratio of 0.97, a quick ratio of 0.90 and a debt-to-equity ratio of 0.11. The stock has a 50-day moving average price of $101.79 and a 200 day moving average price of $99.43. Chord Energy has a 52 week low of $79.83 and a 52 week high of $136.38.

Chord Energy (NASDAQ:CHRD) last released its quarterly earnings results on Wednesday, August 6th. The company reported $1.79 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.88 by ($0.09). The firm had revenue of $1.18 billion for the quarter, compared to analyst estimates of $984.07 million. Chord Energy had a return on equity of 9.02% and a net margin of 5.02%.Chord Energy’s revenue for the quarter was up 5.3% on a year-over-year basis. During the same period in the prior year, the business earned $4.69 earnings per share. Equities research analysts predict that Chord Energy will post 15.59 earnings per share for the current fiscal year.

Insider Transactions at Chord Energy

In other news, EVP Shannon Browning Kinney sold 3,019 shares of the stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $105.43, for a total value of $318,293.17. Following the completion of the sale, the executive vice president owned 14,650 shares of the company’s stock, valued at $1,544,549.50. This represents a 17.09% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.70% of the stock is currently owned by corporate insiders.

Institutional Trading of Chord Energy

Large investors have recently added to or reduced their stakes in the stock. GAMMA Investing LLC lifted its stake in shares of Chord Energy by 184.0% during the first quarter. GAMMA Investing LLC now owns 727 shares of the company’s stock worth $82,000 after purchasing an additional 471 shares in the last quarter. Fifth Third Bancorp raised its holdings in shares of Chord Energy by 195.8% during the 1st quarter. Fifth Third Bancorp now owns 698 shares of the company’s stock valued at $79,000 after buying an additional 462 shares during the period. State of Alaska Department of Revenue lifted its position in Chord Energy by 1.0% during the 1st quarter. State of Alaska Department of Revenue now owns 19,163 shares of the company’s stock worth $2,159,000 after acquiring an additional 190 shares in the last quarter. Blue Trust Inc. boosted its holdings in Chord Energy by 24.2% in the 1st quarter. Blue Trust Inc. now owns 1,377 shares of the company’s stock worth $155,000 after acquiring an additional 268 shares during the period. Finally, Archford Capital Strategies LLC acquired a new stake in Chord Energy in the first quarter valued at approximately $338,000. 97.76% of the stock is currently owned by institutional investors and hedge funds.

Chord Energy Company Profile

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.