Piper Sandler Cuts Chord Energy (NASDAQ:CHRD) Price Target to $160.00

Chord Energy (NASDAQ:CHRD) had its target price dropped by Piper Sandler from $165.00 to $160.00 in a report released on Wednesday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Piper Sandler’s target price suggests a potential upside of 60.84% from the company’s current price.

Other research analysts also recently issued research reports about the company. Roth Mkm began coverage on Chord Energy in a report on Monday, October 13th. They set a “buy” rating and a $130.00 price target on the stock. William Blair began coverage on Chord Energy in a report on Friday, November 21st. They issued an “outperform” rating for the company. Scotiabank reiterated a “sector perform” rating and set a $114.00 target price on shares of Chord Energy in a research report on Friday, January 16th. Zacks Research cut Chord Energy from a “hold” rating to a “strong sell” rating in a report on Tuesday, January 20th. Finally, Citigroup lowered shares of Chord Energy from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $105.00 to $97.00 in a research report on Wednesday, January 14th. Eight analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $124.67.

Chord Energy Stock Performance

Shares of NASDAQ:CHRD traded up $1.44 during trading on Wednesday, reaching $99.48. The company had a trading volume of 12,344 shares, compared to its average volume of 757,325. The stock’s fifty day moving average price is $93.37 and its 200 day moving average price is $97.73. The firm has a market capitalization of $5.66 billion, a price-to-earnings ratio of 38.25 and a beta of 0.92. Chord Energy has a fifty-two week low of $79.83 and a fifty-two week high of $117.79. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.35 and a quick ratio of 1.28.

Chord Energy (NASDAQ:CHRD) last announced its earnings results on Tuesday, November 4th. The company reported $2.35 EPS for the quarter, beating analysts’ consensus estimates of $2.24 by $0.11. The firm had revenue of $1.31 billion for the quarter, compared to analysts’ expectations of $1.02 billion. Chord Energy had a return on equity of 8.27% and a net margin of 3.31%.Chord Energy’s quarterly revenue was up 17.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.40 EPS. As a group, equities research analysts predict that Chord Energy will post 15.59 EPS for the current year.

Insider Buying and Selling

In other Chord Energy news, Director Samantha Holroyd acquired 1,250 shares of the business’s stock in a transaction dated Friday, November 7th. The shares were purchased at an average cost of $85.50 per share, for a total transaction of $106,875.00. Following the transaction, the director owned 17,706 shares in the company, valued at $1,513,863. This represents a 7.60% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.70% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Chord Energy

Large investors have recently bought and sold shares of the business. Bayforest Capital Ltd bought a new stake in Chord Energy during the 2nd quarter worth approximately $28,000. WealthCollab LLC raised its stake in shares of Chord Energy by 90.6% in the second quarter. WealthCollab LLC now owns 305 shares of the company’s stock valued at $30,000 after acquiring an additional 145 shares during the period. Quent Capital LLC purchased a new stake in Chord Energy in the third quarter worth $32,000. Mitsubishi UFJ Asset Management Co. Ltd. grew its position in shares of Chord Energy by 91.2% during the 2nd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 411 shares of the company’s stock worth $40,000 after buying an additional 196 shares in the last quarter. Finally, Pilgrim Partners Asia Pte Ltd purchased a new stake in shares of Chord Energy during the 3rd quarter worth $46,000. 97.76% of the stock is currently owned by 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.