Chord Energy (NASDAQ:CHRD) Upgraded by Siebert Williams Shank to Strong-Buy

Chord Energy (NASDAQ:CHRD) was upgraded by research analysts at Siebert Williams Shank to a “strong-buy” rating in a note issued to investors on Tuesday, Zacks.com reports.

Several other research analysts have also recently commented on the company. BMO Capital Markets reduced their target price on Chord Energy from $205.00 to $175.00 and set an “outperform” rating for the company in a research report on Friday, October 4th. Bank of America upped their price objective on shares of Chord Energy from $201.00 to $208.00 and gave the stock a “buy” rating in a research note on Wednesday, August 21st. Citigroup reduced their price objective on Chord Energy from $195.00 to $180.00 and set a “buy” rating on the stock in a research note on Monday, August 12th. Royal Bank of Canada restated an “outperform” rating and issued a $200.00 target price on shares of Chord Energy in a research note on Friday, September 20th. Finally, Jefferies Financial Group began coverage on shares of Chord Energy in a research report on Thursday, September 5th. They set a “hold” rating and a $160.00 price target on the stock. Two analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $190.18.

Chord Energy Trading Up 1.5 %

Shares of CHRD stock opened at $128.35 on Tuesday. Chord Energy has a 12 month low of $126.38 and a 12 month high of $190.23. The business’s 50 day moving average is $139.85 and its two-hundred day moving average is $162.65. The company has a quick ratio of 0.91, a current ratio of 0.96 and a debt-to-equity ratio of 0.11. The company has a market cap of $5.35 billion, a PE ratio of 6.02, a price-to-earnings-growth ratio of 4.92 and a beta of 0.97.

Chord Energy (NASDAQ:CHRD) last issued its quarterly earnings results on Wednesday, August 7th. The company reported $4.69 EPS for the quarter, missing analysts’ consensus estimates of $5.00 by ($0.31). Chord Energy had a return on equity of 15.06% and a net margin of 20.83%. The business had revenue of $902.70 million for the quarter, compared to analyst estimates of $982.43 million. During the same quarter last year, the firm earned $3.65 earnings per share. The firm’s quarterly revenue was up 29.8% compared to the same quarter last year. Equities analysts predict that Chord Energy will post 17.93 EPS for the current year.

Insider Buying and Selling

In other Chord Energy news, Director Samantha Holroyd bought 500 shares of the stock in a transaction on Friday, August 23rd. The stock was purchased at an average price of $149.51 per share, with a total value of $74,755.00. Following the acquisition, the director now owns 14,417 shares of the company’s stock, valued at approximately $2,155,485.67. The trade was a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.70% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in CHRD. Hexagon Capital Partners LLC lifted its stake in Chord Energy by 462.9% in the third quarter. Hexagon Capital Partners LLC now owns 197 shares of the company’s stock valued at $26,000 after buying an additional 162 shares during the period. UMB Bank n.a. increased its stake in shares of Chord Energy by 77.7% in the 3rd quarter. UMB Bank n.a. now owns 231 shares of the company’s stock valued at $30,000 after acquiring an additional 101 shares during the last quarter. Rise Advisors LLC acquired a new stake in shares of Chord Energy in the 1st quarter valued at approximately $31,000. Ashton Thomas Private Wealth LLC bought a new position in Chord Energy during the 2nd quarter worth approximately $40,000. Finally, Benjamin F. Edwards & Company Inc. grew its holdings in Chord Energy by 125.9% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 244 shares of the company’s stock valued at $41,000 after purchasing an additional 136 shares during the period. 97.76% of the stock is currently owned by institutional investors.

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.