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

Chord Energy (NASDAQ:CHRD) had its target price dropped by stock analysts at Mizuho from $192.00 to $178.00 in a report issued on Monday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Mizuho’s price objective suggests a potential upside of 54.66% from the company’s current price.

Other research analysts have also issued research reports about the stock. Piper Sandler boosted their target price on shares of Chord Energy from $211.00 to $212.00 and gave the stock an “overweight” rating in a research report on Monday, November 18th. Truist Financial decreased their target price on Chord Energy from $223.00 to $185.00 and set a “buy” rating for the company in a research note on Monday, September 30th. Royal Bank of Canada dropped their price target on Chord Energy from $185.00 to $180.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 20th. UBS Group reduced their price objective on Chord Energy from $168.00 to $161.00 and set a “buy” rating for the company in a research report on Monday, December 9th. Finally, Bank of America raised 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. Two research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Chord Energy has an average rating of “Moderate Buy” and a consensus target price of $182.55.

Chord Energy Stock Performance

Chord Energy stock opened at $115.09 on Monday. Chord Energy has a fifty-two week low of $113.58 and a fifty-two week high of $190.23. The firm’s 50 day simple moving average is $127.45 and its 200-day simple moving average is $146.03. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.93 and a quick ratio of 0.89. The company has a market cap of $7.04 billion, a P/E ratio of 5.91, a price-to-earnings-growth ratio of 4.79 and a beta of 0.96.

Chord Energy (NASDAQ:CHRD) last issued its quarterly earnings results on Wednesday, November 6th. The company reported $3.40 earnings per share for the quarter, missing analysts’ consensus estimates of $3.63 by ($0.23). Chord Energy had a net margin of 19.74% and a return on equity of 12.88%. The business had revenue of $1.12 billion for the quarter, compared to analysts’ expectations of $1.26 billion. During the same quarter in the prior year, the firm posted $5.04 EPS. The business’s quarterly revenue was up 33.4% compared to the same quarter last year. As a group, equities research analysts predict that Chord Energy will post 16.5 EPS for the current year.

Insider Transactions at Chord Energy

In other Chord Energy news, CAO Shannon Browning Kinney sold 1,000 shares of the business’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $116.35, for a total transaction of $116,350.00. Following the transaction, the chief accounting officer now owns 19,488 shares of the company’s stock, valued at $2,267,428.80. The trade was a 4.88 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.70% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of CHRD. FMR LLC increased its holdings in shares of Chord Energy by 2.2% during the third quarter. FMR LLC now owns 3,420,012 shares of the company’s stock worth $445,388,000 after purchasing an additional 74,165 shares during the period. State Street Corp increased its stake in Chord Energy by 0.9% during the 3rd quarter. State Street Corp now owns 2,485,777 shares of the company’s stock worth $323,723,000 after acquiring an additional 22,753 shares during the period. Victory Capital Management Inc. raised its holdings in Chord Energy by 41.3% in the 3rd quarter. Victory Capital Management Inc. now owns 2,245,435 shares of the company’s stock valued at $292,423,000 after acquiring an additional 656,374 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Chord Energy by 72.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,771,780 shares of the company’s stock valued at $297,090,000 after acquiring an additional 741,705 shares during the period. Finally, Pacer Advisors Inc. grew its holdings in shares of Chord Energy by 8,762.1% during the 3rd quarter. Pacer Advisors Inc. now owns 1,245,034 shares of the company’s stock worth $162,141,000 after purchasing an additional 1,230,985 shares in the last quarter. 97.76% of the stock is 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.