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

Chord Energy (NASDAQ:CHRD) had its target price cut by stock analysts at UBS Group from $130.00 to $123.00 in a research report issued on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the stock. UBS Group’s target price indicates a potential upside of 35.24% from the stock’s current price.

CHRD has been the subject of a number of other reports. Roth Capital initiated coverage on shares of Chord Energy in a research note on Monday, October 13th. They issued a “buy” rating and a $130.00 target price for the company. Royal Bank Of Canada reissued an “outperform” rating and set a $130.00 price target on shares of Chord Energy in a research note on Monday, October 6th. Scotiabank initiated coverage on shares of Chord Energy in a research report on Friday, September 19th. They issued a “sector perform” rating and a $120.00 price objective for the company. Wall Street Zen cut Chord Energy from a “hold” rating to a “sell” rating in a research note on Saturday, November 1st. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Chord Energy in a research note on Wednesday, October 8th. Ten equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, Chord Energy has a consensus rating of “Moderate Buy” and an average target price of $137.85.

Chord Energy Price Performance

NASDAQ CHRD traded up $3.69 during trading hours on Wednesday, reaching $90.95. 14,618 shares of the company’s stock were exchanged, compared to its average volume of 834,951. The firm has a fifty day moving average of $96.64 and a 200-day moving average of $99.40. Chord Energy has a one year low of $79.83 and a one year high of $134.54. The stock has a market cap of $5.17 billion, a PE ratio of 34.95 and a beta of 0.92. The company has a current ratio of 1.35, a quick ratio of 1.28 and a debt-to-equity ratio of 0.18.

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

Insider Buying and Selling at Chord Energy

In related news, EVP Shannon Browning Kinney sold 3,019 shares of the firm’s stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $105.43, for a total transaction of $318,293.17. Following the sale, the executive vice president directly owned 14,650 shares in the company, valued at $1,544,549.50. This trade represents a 17.09% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Samantha Holroyd acquired 1,250 shares of the business’s stock in a transaction dated Friday, November 7th. The stock was acquired 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 of the company’s stock, valued at $1,513,863. This represents a 7.60% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 0.70% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Massachusetts Financial Services Co. MA bought a new stake in shares of Chord Energy during the 3rd quarter worth approximately $91,434,000. Orion Porfolio Solutions LLC lifted its stake in Chord Energy by 6,714.2% in the second quarter. Orion Porfolio Solutions LLC now owns 709,086 shares of the company’s stock valued at $68,675,000 after acquiring an additional 698,680 shares during the last quarter. AQR Capital Management LLC grew its position in shares of Chord Energy by 210.5% in the 2nd quarter. AQR Capital Management LLC now owns 734,225 shares of the company’s stock valued at $71,110,000 after acquiring an additional 497,789 shares during the period. Nuveen LLC bought a new stake in shares of Chord Energy in the 1st quarter valued at about $36,837,000. Finally, Adage Capital Partners GP L.L.C. lifted its stake in Chord Energy by 22.2% in the 2nd quarter. Adage Capital Partners GP L.L.C. now owns 990,381 shares of the company’s stock valued at $95,918,000 after purchasing an additional 180,000 shares during the last quarter. 97.76% of the stock is currently owned by institutional investors.

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.