Citigroup Lowers Chord Energy (NASDAQ:CHRD) Price Target to $120.00

Chord Energy (NASDAQ:CHRD) had its price objective lowered by analysts at Citigroup from $135.00 to $120.00 in a report released on Monday,Benzinga reports. The firm currently has a “buy” rating on the stock. Citigroup’s target price suggests a potential upside of 42.49% from the stock’s previous close.

A number of other analysts have also recently commented on CHRD. Bank of America lowered their price target on Chord Energy from $138.00 to $125.00 and set a “neutral” rating for the company in a research note on Tuesday, April 1st. UBS Group reduced their price objective on Chord Energy from $168.00 to $161.00 and set a “buy” rating on the stock in a research note on Monday, December 9th. Mizuho cut their price target on shares of Chord Energy from $192.00 to $178.00 and set an “outperform” rating on the stock in a research report on Monday, December 16th. Williams Trading set a $155.00 price objective on Chord Energy in a research note on Wednesday, March 5th. Finally, Piper Sandler cut their price target on shares of Chord Energy from $193.00 to $184.00 and set an “overweight” rating on the stock in a report on Thursday, March 6th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Chord Energy presently has an average rating of “Moderate Buy” and an average target price of $160.31.

Chord Energy Stock Down 4.1 %

CHRD traded down $3.60 on Monday, reaching $84.22. 489,944 shares of the company traded hands, compared to its average volume of 948,964. The stock’s 50 day moving average price is $109.83 and its 200-day moving average price is $120.11. Chord Energy has a 52-week low of $80.49 and a 52-week 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. The company has a market cap of $5.01 billion, a price-to-earnings ratio of 4.36, a PEG ratio of 5.83 and a beta of 0.96.

Institutional Trading of Chord Energy

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Altshuler Shaham Ltd purchased a new stake in shares of Chord Energy during the 4th quarter worth approximately $25,000. Brooklyn Investment Group purchased a new stake in shares of Chord Energy during the fourth quarter valued at approximately $29,000. Twin Tree Management LP purchased a new position in Chord Energy in the 4th quarter valued at about $33,000. Larson Financial Group LLC grew its stake in Chord Energy by 238.3% during the 4th quarter. Larson Financial Group LLC now owns 318 shares of the company’s stock valued at $37,000 after purchasing an additional 224 shares in the last quarter. Finally, R Squared Ltd acquired a new stake in Chord Energy in the fourth quarter valued at $51,000. Institutional investors and hedge funds 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.