Citigroup Cuts Chord Energy (NASDAQ:CHRD) Price Target to $120.00

Chord Energy (NASDAQ:CHRD) had its target price dropped by Citigroup from $135.00 to $120.00 in a note issued to investors on Monday,Benzinga reports. The firm currently has a “buy” rating on the stock. Citigroup’s price objective would indicate a potential upside of 46.29% from the stock’s current price.

Several other research analysts have also recently issued reports on CHRD. UBS Group dropped their price target on Chord Energy from $168.00 to $161.00 and set a “buy” rating on the stock in a report on Monday, December 9th. Mizuho reduced their target price on Chord Energy from $192.00 to $178.00 and set an “outperform” rating for the company in a report on Monday, December 16th. Bank of America cut their price objective on Chord Energy from $138.00 to $125.00 and set a “neutral” rating on the stock in a report on Tuesday, April 1st. Williams Trading set a $155.00 target price on shares of Chord Energy in a research report on Wednesday, March 5th. Finally, Wells Fargo & Company decreased their price objective on shares of Chord Energy from $175.00 to $166.00 and set an “overweight” rating for the company in a research note on Monday, March 24th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $160.31.

Chord Energy Stock Down 4.6 %

NASDAQ CHRD opened at $82.03 on Monday. Chord Energy has a 12 month low of $80.80 and a 12 month high of $190.23. The company has a market capitalization of $4.88 billion, a P/E ratio of 4.22, a PEG ratio of 5.83 and a beta of 0.96. The company’s 50 day simple moving average is $107.82 and its 200 day simple moving average is $119.11. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.93 and a quick ratio of 0.89.

Institutional Investors Weigh In On Chord Energy

Several institutional investors have recently made changes to their positions in the company. FMR LLC lifted its stake in Chord Energy by 11.5% in the fourth quarter. FMR LLC now owns 3,814,384 shares of the company’s stock valued at $445,978,000 after acquiring an additional 394,372 shares during the last quarter. Victory Capital Management Inc. boosted its holdings in Chord Energy by 27.6% in the fourth quarter. Victory Capital Management Inc. now owns 2,864,456 shares of the company’s stock worth $334,912,000 after purchasing an additional 619,021 shares in the last quarter. State Street Corp raised its holdings in Chord Energy by 0.9% during the third quarter. State Street Corp now owns 2,485,777 shares of the company’s stock valued at $323,723,000 after buying an additional 22,753 shares in the last quarter. Boston Partners raised its holdings in Chord Energy by 5.6% during the fourth quarter. Boston Partners now owns 2,186,483 shares of the company’s stock valued at $255,684,000 after buying an additional 115,215 shares in the last quarter. Finally, Pacer Advisors Inc. lifted its position in shares of Chord Energy by 50.4% in the fourth quarter. Pacer Advisors Inc. now owns 1,872,156 shares of the company’s stock worth $218,892,000 after buying an additional 627,122 shares during the last quarter. 97.76% of the stock is currently owned by institutional investors and hedge funds.

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.