Wells Fargo & Company Cuts Chord Energy (NASDAQ:CHRD) Price Target to $166.00

Chord Energy (NASDAQ:CHRD) had its price target reduced by equities researchers at Wells Fargo & Company from $175.00 to $166.00 in a report issued on Monday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Wells Fargo & Company‘s price objective points to a potential upside of 48.50% from the company’s current price.

CHRD has been the topic of a number of other reports. Bank of America reaffirmed a “neutral” rating and set a $138.00 price target (down from $208.00) on shares of Chord Energy in a research report on Monday, January 13th. Williams Trading set a $155.00 target price on shares of Chord Energy in a research report on Wednesday, March 5th. Truist Financial boosted their target price on shares of Chord Energy from $185.00 to $186.00 and gave the stock a “buy” rating in a research report on Monday, January 13th. Citigroup cut shares of Chord Energy to a “reduce” rating in a research report on Wednesday, March 5th. Finally, UBS Group reduced their target price on shares of Chord Energy from $168.00 to $161.00 and set a “buy” rating on the stock in a research report on Monday, December 9th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Chord Energy currently has a consensus rating of “Moderate Buy” and an average price target of $163.92.

Chord Energy Price Performance

CHRD opened at $111.79 on Monday. The stock has a market capitalization of $6.67 billion, a PE ratio of 5.74, a P/E/G ratio of 5.83 and a beta of 0.98. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.89 and a current ratio of 0.93. Chord Energy has a 1 year low of $99.40 and a 1 year high of $190.23. The company’s 50 day simple moving average is $112.92 and its 200 day simple moving average is $121.91.

Hedge Funds Weigh In On Chord Energy

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. FMR LLC boosted its holdings in Chord Energy by 11.5% during the fourth quarter. FMR LLC now owns 3,814,384 shares of the company’s stock worth $445,978,000 after buying an additional 394,372 shares during the last quarter. Victory Capital Management Inc. raised its position in Chord Energy by 27.6% in the 4th quarter. Victory Capital Management Inc. now owns 2,864,456 shares of the company’s stock valued at $334,912,000 after buying an additional 619,021 shares during the last quarter. State Street Corp increased its position in shares of Chord Energy by 0.9% during the 3rd quarter. State Street Corp now owns 2,485,777 shares of the company’s stock worth $323,723,000 after purchasing an additional 22,753 shares during the last quarter. Boston Partners increased its position in shares of Chord Energy by 5.6% during the 4th quarter. Boston Partners now owns 2,186,483 shares of the company’s stock worth $255,684,000 after purchasing an additional 115,215 shares during the last quarter. Finally, Pacer Advisors Inc. increased its position in shares of Chord Energy by 50.4% during the 4th quarter. Pacer Advisors Inc. now owns 1,872,156 shares of the company’s stock worth $218,892,000 after purchasing an additional 627,122 shares during the last quarter. 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.