Chord Energy’s (CHRD) Outperform Rating Reaffirmed at Royal Bank of Canada

Chord Energy (NASDAQ:CHRD)‘s stock had its “outperform” rating restated by research analysts at Royal Bank of Canada in a research note issued to investors on Tuesday, Benzinga reports. They presently have a $180.00 target price on the stock. Royal Bank of Canada’s target price suggests a potential upside of 12.54% from the stock’s current price.

Other analysts also recently issued research reports about the company. BMO Capital Markets initiated coverage on Chord Energy in a report on Thursday, August 31st. They set an “outperform” rating and a $185.00 price objective on the stock. Piper Sandler upped their price target on shares of Chord Energy from $206.00 to $209.00 and gave the company an “overweight” rating in a research report on Thursday, November 16th. Stifel Nicolaus lowered their price objective on shares of Chord Energy from $185.00 to $183.00 and set a “buy” rating on the stock in a research report on Monday. Wells Fargo & Company began coverage on Chord Energy in a report on Wednesday, November 15th. They issued an “overweight” rating and a $189.00 target price for the company. Finally, Bank of America lifted their price target on Chord Energy from $169.00 to $177.00 in a report on Wednesday, September 27th. One equities research analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, Chord Energy has a consensus rating of “Moderate Buy” and an average target price of $187.40.

Chord Energy Price Performance

NASDAQ CHRD traded down $1.79 on Tuesday, reaching $159.95. 115,492 shares of the stock traded hands, compared to its average volume of 520,765. Chord Energy has a 12 month low of $117.05 and a 12 month high of $175.20. The company has a quick ratio of 0.97, a current ratio of 1.02 and a debt-to-equity ratio of 0.08. The firm’s fifty day simple moving average is $162.80 and its 200 day simple moving average is $156.11. The company has a market cap of $6.60 billion, a price-to-earnings ratio of 6.34, a P/E/G ratio of 0.42 and a beta of 1.28.

Chord Energy (NASDAQ:CHRD) last released its earnings results on Wednesday, November 1st. The company reported $5.04 EPS for the quarter, missing the consensus estimate of $5.22 by ($0.18). The business had revenue of $840.60 million for the quarter, compared to analyst estimates of $763.94 million. Chord Energy had a net margin of 27.86% and a return on equity of 16.74%. The firm’s revenue for the quarter was down 20.4% on a year-over-year basis. During the same period in the prior year, the company earned $7.20 earnings per share. As a group, research analysts predict that Chord Energy will post 19.56 EPS for the current fiscal year.

Insider Transactions at Chord Energy

In other news, COO Charles J. Rimer sold 1,500 shares of Chord Energy stock in a transaction dated Friday, September 15th. The stock was sold at an average price of $160.40, for a total value of $240,600.00. Following the transaction, the chief operating officer now directly owns 89,773 shares in the company, valued at $14,399,589.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Chord Energy news, COO Charles J. Rimer sold 1,500 shares of the firm’s stock in a transaction on Friday, September 15th. The shares were sold at an average price of $160.40, for a total value of $240,600.00. Following the sale, the chief operating officer now directly owns 89,773 shares in the company, valued at approximately $14,399,589.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Lynn A. Peterson sold 3,000 shares of the business’s stock in a transaction dated Monday, October 16th. The stock was sold at an average price of $169.19, for a total transaction of $507,570.00. Following the transaction, the director now owns 220,098 shares in the company, valued at approximately $37,238,380.62. The disclosure for this sale can be found here. Over the last three months, insiders sold 12,000 shares of company stock worth $1,963,575. 0.52% of the stock is owned by insiders.

Institutional Trading of Chord Energy

A number of institutional investors and hedge funds have recently modified their holdings of CHRD. Signaturefd LLC increased its holdings in Chord Energy by 87.5% in the 2nd quarter. Signaturefd LLC now owns 180 shares of the company’s stock valued at $28,000 after buying an additional 84 shares during the period. FinTrust Capital Advisors LLC acquired a new stake in Chord Energy during the fourth quarter valued at approximately $28,000. Assetmark Inc. bought a new stake in shares of Chord Energy in the 1st quarter valued at approximately $30,000. Viking Fund Management LLC acquired a new position in shares of Chord Energy in the 2nd quarter worth approximately $38,000. Finally, Rockefeller Capital Management L.P. acquired a new stake in Chord Energy in the 4th quarter valued at $48,000. 97.76% of the stock is currently owned by institutional investors.

Chord Energy Company Profile

Chord Energy Corporation operates as an independent exploration and production company. It acquires, exploits, develops, and explores for crude oil, natural gas, and natural gas liquids in the Williston Basin. Chord Energy Corporation was founded in 2007 and is headquartered in Houston, Texas.