Chord Energy’s (CHRD) Buy Rating Reaffirmed at Stifel Nicolaus

Chord Energy (NASDAQ:CHRD)‘s stock had its “buy” rating reaffirmed by analysts at Stifel Nicolaus in a research report issued on Thursday, Benzinga reports. They currently have a $182.00 price target on the stock. Stifel Nicolaus’ price objective would suggest a potential upside of 21.75% from the company’s previous close.

Other equities analysts have also recently issued reports about the company. Citigroup reduced their target price on Chord Energy from $155.00 to $130.00 and set a “neutral” rating for the company in a research report on Friday, July 10th. Seaport Research Partners initiated coverage on shares of Chord Energy in a research report on Thursday, September 3rd. They set a “neutral” rating for the company. Wells Fargo & Company boosted their price target on shares of Chord Energy from $163.00 to $175.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 2nd. UBS Group raised their price objective on shares of Chord Energy from $153.00 to $171.00 and gave the company a “buy” rating in a research report on Wednesday, August 12th. Finally, Truist Financial cut their target price on shares of Chord Energy from $170.00 to $166.00 and set a “buy” rating for the company in a research report on Monday, August 10th. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Chord Energy currently has a consensus rating of “Moderate Buy” and a consensus target price of $155.50.

Chord Energy Stock Performance

NASDAQ CHRD opened at $149.49 on Thursday. The firm has a market cap of $8.18 billion, a P/E ratio of 10.02 and a beta of 0.50. The company’s 50 day moving average is $135.55 and its 200-day moving average is $132.88. Chord Energy has a 12-month low of $84.25 and a 12-month high of $153.00. The company has a quick ratio of 1.15, a current ratio of 1.22 and a debt-to-equity ratio of 0.18.

Chord Energy (NASDAQ:CHRD) last posted its quarterly earnings results on Wednesday, August 5th. The company reported $6.44 EPS for the quarter, missing analysts’ consensus estimates of $6.55 by ($0.11). The company had revenue of $2.17 billion during the quarter, compared to the consensus estimate of $1.62 billion. Chord Energy had a return on equity of 10.18% and a net margin of 13.42%.Chord Energy’s revenue was up 128.6% on a year-over-year basis. During the same period in the previous year, the business earned $1.79 earnings per share. Sell-side analysts predict that Chord Energy will post 19.33 earnings per share for the current year.

Insider Activity at Chord Energy

In other Chord Energy news, EVP Shannon Kinney sold 4,019 shares of the firm’s stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $140.00, for a total value of $562,660.00. Following the completion of the sale, the executive vice president directly owned 13,560 shares in the company, valued at $1,898,400. This trade represents a 22.86% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Douglas E. Brooks sold 8,000 shares of Chord Energy stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $133.14, for a total value of $1,065,120.00. Following the sale, the director owned 10,705 shares in the company, valued at $1,425,263.70. This represents a 42.77% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 23,969 shares of company stock worth $3,389,599 over the last quarter. 0.79% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Chord Energy

Several institutional investors and hedge funds have recently added to or reduced their stakes in CHRD. Core Capital Management & Research inc. purchased a new stake in shares of Chord Energy in the 2nd quarter worth about $668,000. Sequoia Financial Advisors LLC lifted its position in Chord Energy by 24.2% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 5,107 shares of the company’s stock valued at $584,000 after acquiring an additional 994 shares during the period. Tidal Investments LLC boosted its stake in Chord Energy by 299.2% during the second quarter. Tidal Investments LLC now owns 29,843 shares of the company’s stock worth $3,411,000 after acquiring an additional 22,368 shares in the last quarter. Engineers Gate Manager LP bought a new stake in shares of Chord Energy in the 2nd quarter worth approximately $8,004,000. Finally, Allworth Financial LP boosted its holdings in Chord Energy by 16.6% in the second quarter. Allworth Financial LP now owns 1,189 shares of the company’s stock worth $136,000 after acquiring an additional 169 shares in the last quarter. Hedge funds and other institutional investors own 97.76% of the company’s stock.

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.