Citigroup Has Lowered Expectations for Chord Energy (NASDAQ:CHRD) Stock Price

Chord Energy (NASDAQ:CHRD) had its price objective cut by analysts at Citigroup from $160.00 to $135.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm currently has a “buy” rating on the stock. Citigroup’s target price would indicate a potential upside of 29.99% from the stock’s current price.

Several other brokerages also recently issued reports on CHRD. Morgan Stanley started coverage on shares of Chord Energy in a research report on Friday, January 10th. They set an “equal weight” rating and a $158.00 price objective on the stock. Bank of America restated a “neutral” rating and issued a $138.00 price target (down previously from $208.00) on shares of Chord Energy in a research report on Monday, January 13th. Wells Fargo & Company lowered their target price on Chord Energy from $176.00 to $175.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 15th. Mizuho cut their price target on Chord Energy from $192.00 to $178.00 and set an “outperform” rating for the company in a research note on Monday, December 16th. Finally, Royal Bank of Canada lowered their price objective on shares of Chord Energy from $185.00 to $180.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 20th. Three equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $166.17.

Chord Energy Stock Performance

Shares of CHRD stock traded down $2.19 during trading hours on Tuesday, hitting $103.85. The stock had a trading volume of 612,020 shares, compared to its average volume of 803,496. The stock’s 50 day moving average is $116.32 and its 200 day moving average is $126.09. The firm has a market capitalization of $6.35 billion, a PE ratio of 5.34, a PEG ratio of 5.83 and a beta of 0.98. Chord Energy has a twelve month low of $100.58 and a twelve month high of $190.23. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.93 and a quick ratio of 0.89.

Insider Transactions at Chord Energy

In other Chord Energy news, CAO Shannon Browning Kinney sold 1,000 shares of the stock in a transaction on Monday, December 16th. The shares were sold at an average price of $116.35, for a total transaction of $116,350.00. Following the sale, the chief accounting officer now directly owns 19,488 shares of the company’s stock, valued at approximately $2,267,428.80. This represents a 4.88 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.70% of the company’s stock.

Hedge Funds Weigh In On Chord Energy

A number of large investors have recently bought and sold shares of CHRD. Altshuler Shaham Ltd bought a new stake in shares of Chord Energy in the 4th quarter worth approximately $25,000. Stone House Investment Management LLC bought a new stake in Chord Energy in the third quarter valued at $26,000. Brooklyn Investment Group acquired a new position in shares of Chord Energy during the fourth quarter valued at $29,000. Twin Tree Management LP bought a new position in shares of Chord Energy during the fourth quarter worth about $33,000. Finally, Larson Financial Group LLC increased its holdings in shares of Chord Energy by 238.3% in the 4th quarter. Larson Financial Group LLC now owns 318 shares of the company’s stock worth $37,000 after acquiring an additional 224 shares during the period. Institutional investors own 97.76% of the company’s stock.

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.