Chord Energy (NASDAQ:CHRD) Price Target Lowered to $135.00 at Citigroup

Chord Energy (NASDAQ:CHRD) had its price objective cut by equities researchers at Citigroup from $160.00 to $135.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Citigroup’s price objective suggests a potential upside of 33.21% from the company’s previous close.

Several other analysts have also recently commented on CHRD. Morgan Stanley initiated coverage on shares of Chord Energy in a research note on Friday, January 10th. They issued an “equal weight” rating and a $158.00 price objective for the company. Piper Sandler reduced their price target on shares of Chord Energy from $194.00 to $193.00 and set an “overweight” rating for the company in a research report on Wednesday, January 15th. Truist Financial upped their price target on Chord Energy from $185.00 to $186.00 and gave the stock a “buy” rating in a report on Monday, January 13th. Royal Bank of Canada dropped their price objective on Chord Energy from $185.00 to $180.00 and set an “outperform” rating for the company in a research note on Wednesday, November 20th. Finally, Wolfe Research upgraded Chord Energy from a “peer perform” rating to an “outperform” rating and set a $155.00 target price on the stock in a research report on Friday, January 3rd. Three analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $166.17.

Chord Energy Price Performance

Chord Energy stock opened at $101.34 on Tuesday. The company has a market cap of $6.19 billion, a P/E ratio of 5.22, a price-to-earnings-growth ratio of 5.83 and a beta of 0.98. Chord Energy has a one year low of $99.40 and a one year high of $190.23. The business has a fifty day moving average of $116.14 and a two-hundred day moving average of $125.74. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.89 and a current ratio of 0.93.

Insider Buying and Selling

In related news, CAO Shannon Browning Kinney sold 1,000 shares of the firm’s stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $116.35, for a total transaction of $116,350.00. Following the sale, the chief accounting officer now owns 19,488 shares in the company, valued at approximately $2,267,428.80. This trade represents a 4.88 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.70% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Stone House Investment Management LLC purchased a new stake in shares of Chord Energy in the third quarter valued at $26,000. Altshuler Shaham Ltd acquired a new stake in Chord Energy in the 4th quarter worth about $25,000. Brooklyn Investment Group acquired a new stake in Chord Energy in the 4th quarter worth about $29,000. Twin Tree Management LP purchased a new stake in Chord Energy in the 4th quarter valued at about $33,000. Finally, Larson Financial Group LLC increased its stake in shares of Chord Energy by 238.3% during the 4th quarter. Larson Financial Group LLC now owns 318 shares of the company’s stock valued at $37,000 after acquiring an additional 224 shares during the last quarter. Hedge funds and other institutional investors own 97.76% of the company’s stock.

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.