Chord Energy (NASDAQ:CHRD – Get Rating) had its target price raised by equities research analysts at Citigroup from $150.00 to $185.00 in a note issued to investors on Sunday, The Fly reports. Citigroup’s target price indicates a potential upside of 17.68% from the company’s previous close.
Several other research analysts have also recently commented on CHRD. Wells Fargo & Company increased their target price on shares of Chord Energy from $157.00 to $162.00 and gave the stock an “equal weight” rating in a report on Monday, July 11th. Piper Sandler raised their price objective on Chord Energy from $208.00 to $220.00 and gave the company an “overweight” rating in a report on Tuesday, October 18th. Finally, Royal Bank of Canada increased their price target on Chord Energy from $170.00 to $195.00 and gave the company an “outperform” rating in a research report on Monday, October 31st.
Chord Energy Price Performance
CHRD stock traded up $2.96 during trading hours on Friday, reaching $157.20. 481,284 shares of the stock were exchanged, compared to its average volume of 373,868. The firm’s 50-day simple moving average is $143.71. Chord Energy has a 12 month low of $93.35 and a 12 month high of $181.34. The company has a market cap of $3.09 billion, a P/E ratio of 2.57 and a beta of 1.45. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.86 and a current ratio of 0.98.
Chord Energy (NASDAQ:CHRD – Get Rating) last posted its quarterly earnings data on Wednesday, August 3rd. The company reported $7.30 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $7.81 by ($0.51). The firm had revenue of $789.38 million for the quarter, compared to the consensus estimate of $411.50 million. Chord Energy had a return on equity of 34.89% and a net margin of 53.81%. As a group, equities research analysts forecast that Chord Energy will post 32.19 earnings per share for the current year.
Insider Activity
In related news, major shareholder Energy Corp Chord sold 11,400,000 shares of the firm’s stock in a transaction dated Thursday, September 15th. The shares were sold at an average price of $26.71, for a total value of $304,494,000.00. Following the completion of the sale, the insider now directly owns 9,585,668 shares in the company, valued at approximately $256,033,192.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.63% of the stock is owned by insiders.
About Chord Energy
Chord Energy Corporation operates as an independent exploration and production company. It acquires, exploits, develops, and explores for crude oil, natural gas, and natural gas liquids in the Williston Basin. The company was founded in 2007 and is headquartered in Houston, Texas.