UBS Group Issues Pessimistic Forecast for Chord Energy (NASDAQ:CHRD) Stock Price

Chord Energy (NASDAQ:CHRD) had its target price reduced by equities researchers at UBS Group from $168.00 to $161.00 in a research report issued on Monday,Benzinga reports. The firm presently has a “buy” rating on the stock. UBS Group’s target price would suggest a potential upside of 36.53% from the stock’s previous close.

A number of other research analysts have also weighed in on the stock. BMO Capital Markets dropped their price target on shares of Chord Energy from $205.00 to $175.00 and set an “outperform” rating on the stock in a research report on Friday, October 4th. Truist Financial dropped their target price on shares of Chord Energy from $223.00 to $185.00 and set a “buy” rating on the stock in a research report on Monday, September 30th. Citigroup cut their target price 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. Piper Sandler increased their price target on Chord Energy from $211.00 to $212.00 and gave the company an “overweight” rating in a research report on Monday, November 18th. Finally, Bank of America boosted their price objective on Chord Energy from $201.00 to $208.00 and gave the stock a “buy” rating in a research report on Wednesday, August 21st. Two research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Chord Energy currently has a consensus rating of “Moderate Buy” and an average price target of $187.82.

Chord Energy Stock Performance

Shares of CHRD opened at $117.92 on Monday. The firm has a market capitalization of $7.21 billion, a P/E ratio of 6.07, a P/E/G ratio of 4.70 and a beta of 0.96. Chord Energy has a 52 week low of $115.96 and a 52 week high of $190.23. The stock has a 50 day moving average price of $128.75 and a two-hundred day moving average price of $147.78. 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 (NASDAQ:CHRD) last announced its quarterly earnings results on Wednesday, November 6th. The company reported $3.40 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.63 by ($0.23). Chord Energy had a return on equity of 12.88% and a net margin of 19.74%. The company had revenue of $1.12 billion for the quarter, compared to the consensus estimate of $1.26 billion. During the same quarter last year, the company posted $5.04 EPS. The company’s quarterly revenue was up 33.4% compared to the same quarter last year. Equities analysts forecast that Chord Energy will post 16.5 earnings per share for the current fiscal year.

Insider Activity

In other news, CAO Shannon Browning Kinney sold 1,000 shares of Chord Energy stock in a transaction on Monday, December 9th. The stock was sold at an average price of $121.27, for a total value of $121,270.00. Following the completion of the transaction, the chief accounting officer now directly owns 20,488 shares in the company, valued at approximately $2,484,579.76. The trade was a 4.65 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.70% of the company’s stock.

Institutional Trading of Chord Energy

A number of institutional investors have recently added to or reduced their stakes in CHRD. Hexagon Capital Partners LLC increased its position in shares of Chord Energy by 462.9% during 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. Stone House Investment Management LLC bought a new position in Chord Energy in the 3rd quarter valued at $26,000. UMB Bank n.a. grew its position in shares of Chord Energy by 77.7% during the 3rd quarter. UMB Bank n.a. now owns 231 shares of the company’s stock valued at $30,000 after purchasing an additional 101 shares in the last quarter. Spartan Fund Management Inc. bought a new position in shares of Chord Energy in the third quarter worth $34,000. Finally, Ashton Thomas Private Wealth LLC purchased a new stake in shares of Chord Energy in the second quarter worth $40,000. Hedge funds and other 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.