Royal Bank of Canada Has Lowered Expectations for Chord Energy (NASDAQ:CHRD) Stock Price

Chord Energy (NASDAQ:CHRD) had its price objective decreased by equities research analysts at Royal Bank of Canada from $165.00 to $145.00 in a note issued to investors on Friday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Royal Bank of Canada’s target price points to a potential upside of 62.30% from the stock’s current price.

A number of other equities analysts also recently weighed in on the company. Wells Fargo & Company lowered their price target on Chord Energy from $175.00 to $166.00 and set an “overweight” rating on the stock in a research report on Monday, March 24th. Mizuho decreased their target price on Chord Energy from $192.00 to $178.00 and set an “outperform” rating on the stock in a report on Monday, December 16th. Truist Financial increased their price target on Chord Energy from $185.00 to $186.00 and gave the company a “buy” rating in a research note on Monday, January 13th. Citigroup reduced their price objective on shares of Chord Energy from $135.00 to $120.00 and set a “buy” rating for the company in a research report on Monday, April 7th. Finally, Williams Trading set a $155.00 price objective on shares of Chord Energy in a research report on Wednesday, March 5th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $157.62.

Chord Energy Stock Up 4.0 %

Chord Energy stock opened at $89.34 on Friday. 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’s 50-day moving average is $106.10 and its 200-day moving average is $118.01. The firm has a market capitalization of $5.31 billion, a PE ratio of 4.60, a P/E/G ratio of 5.83 and a beta of 0.96. Chord Energy has a fifty-two week low of $79.83 and a fifty-two week high of $190.23.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Tealwood Asset Management Inc. grew its position in Chord Energy by 197.2% during the first quarter. Tealwood Asset Management Inc. now owns 9,477 shares of the company’s stock worth $1,068,000 after buying an additional 6,288 shares in the last quarter. Arkfeld Wealth Strategies L.L.C. lifted its position in shares of Chord Energy by 15.0% during the 1st quarter. Arkfeld Wealth Strategies L.L.C. now owns 106,032 shares of the company’s stock valued at $11,952,000 after acquiring an additional 13,821 shares during the period. Benson Investment Management Company Inc. acquired a new stake in shares of Chord Energy during the 1st quarter worth $3,553,000. Parallel Advisors LLC increased its position in shares of Chord Energy by 115.4% in the first quarter. Parallel Advisors LLC now owns 2,137 shares of the company’s stock worth $241,000 after purchasing an additional 1,145 shares during the period. Finally, GAMMA Investing LLC raised its stake in Chord Energy by 31,910.5% in the first quarter. GAMMA Investing LLC now owns 81,947 shares of the company’s stock valued at $9,237,000 after purchasing an additional 81,691 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.