Wells Fargo & Company Lowers Chord Energy (NASDAQ:CHRD) Price Target to $166.00

Chord Energy (NASDAQ:CHRD) had its price target lowered by equities researchers at Wells Fargo & Company from $175.00 to $166.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Wells Fargo & Company‘s target price would indicate a potential upside of 47.42% from the stock’s previous close.

Several other analysts have also recently weighed in on CHRD. Bank of America restated a “neutral” rating and set a $138.00 price objective (down previously from $208.00) on shares of Chord Energy in a research report on Monday, January 13th. UBS Group lowered their price target on Chord Energy from $168.00 to $161.00 and set a “buy” rating on the stock in a research report on Monday, December 9th. Citigroup lowered Chord Energy to a “reduce” rating in a research note on Wednesday, March 5th. Piper Sandler reduced their price objective on Chord Energy from $193.00 to $184.00 and set an “overweight” rating on the stock in a research report on Thursday, March 6th. Finally, Truist Financial boosted their target price on Chord Energy from $185.00 to $186.00 and gave the stock a “buy” rating in a research report on Monday, January 13th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Chord Energy presently has a consensus rating of “Moderate Buy” and an average price target of $163.92.

Chord Energy Stock Down 0.2 %

CHRD stock opened at $112.60 on Monday. Chord Energy has a 1-year low of $99.40 and a 1-year high of $190.23. The stock has a market cap of $6.71 billion, a price-to-earnings ratio of 5.80, a price-to-earnings-growth ratio of 5.83 and a beta of 0.98. The company has a current ratio of 0.93, a quick ratio of 0.89 and a debt-to-equity ratio of 0.10. The company’s 50 day moving average is $112.66 and its 200 day moving average is $121.74.

Institutional Investors Weigh In On Chord Energy

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Merit Financial Group LLC purchased a new position in shares of Chord Energy in the fourth quarter valued at about $553,000. Geode Capital Management LLC grew its stake in shares of Chord Energy by 3.0% in the third quarter. Geode Capital Management LLC now owns 1,162,442 shares of the company’s stock worth $151,077,000 after purchasing an additional 34,156 shares during the last quarter. Kingsview Wealth Management LLC increased its holdings in Chord Energy by 55.3% during the 4th quarter. Kingsview Wealth Management LLC now owns 21,744 shares of the company’s stock valued at $2,542,000 after purchasing an additional 7,743 shares during the period. Arkfeld Wealth Strategies L.L.C. raised its position in Chord Energy by 3.5% during the 4th quarter. Arkfeld Wealth Strategies L.L.C. now owns 92,211 shares of the company’s stock valued at $11,596,000 after purchasing an additional 3,151 shares during the last quarter. Finally, Kore Advisors LP purchased a new stake in Chord Energy in the 3rd quarter worth approximately $4,428,000. 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.