Chord Energy Co. (NASDAQ:CHRD) Receives Average Recommendation of “Moderate Buy” from Brokerages

Chord Energy Co. (NASDAQ:CHRDGet Free Report) has received a consensus recommendation of “Moderate Buy” from the nine ratings firms that are currently covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, one has given a hold recommendation and seven have issued a buy recommendation on the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $185.10.

Several brokerages have recently commented on CHRD. Wells Fargo & Company began coverage on Chord Energy in a report on Wednesday, November 15th. They set an “overweight” rating and a $189.00 target price for the company. Bank of America downgraded Chord Energy from a “buy” rating to an “underperform” rating and reduced their price objective for the stock from $177.00 to $165.00 in a research note on Friday, January 5th. Mizuho reduced their price objective on Chord Energy from $197.00 to $188.00 and set a “buy” rating for the company in a research note on Wednesday, January 3rd. Stifel Nicolaus reduced their price objective on Chord Energy from $183.00 to $178.00 and set a “buy” rating for the company in a research note on Tuesday, January 23rd. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $180.00 target price on shares of Chord Energy in a research report on Tuesday, November 21st.

Get Our Latest Stock Analysis on CHRD

Insider Activity

In other news, CFO Michael H. Lou sold 6,000 shares of the stock in a transaction dated Thursday, January 4th. The stock was sold at an average price of $169.80, for a total transaction of $1,018,800.00. Following the transaction, the chief financial officer now owns 170,835 shares of the company’s stock, valued at approximately $29,007,783. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Chord Energy news, CFO Michael H. Lou sold 3,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $154.15, for a total value of $462,450.00. Following the sale, the chief financial officer now owns 131,209 shares of the company’s stock, valued at approximately $20,225,867.35. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Michael H. Lou sold 6,000 shares of the firm’s stock in a transaction that occurred on Thursday, January 4th. The shares were sold at an average price of $169.80, for a total value of $1,018,800.00. Following the completion of the sale, the chief financial officer now directly owns 170,835 shares in the company, valued at approximately $29,007,783. The disclosure for this sale can be found here. In the last quarter, insiders have sold 11,750 shares of company stock valued at $1,931,128. Insiders own 0.52% of the company’s stock.

Institutional Trading of Chord Energy

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Signaturefd LLC lifted its position in shares of Chord Energy by 87.5% in the 2nd quarter. Signaturefd LLC now owns 180 shares of the company’s stock worth $28,000 after acquiring an additional 84 shares during the period. FinTrust Capital Advisors LLC bought a new stake in shares of Chord Energy in the 4th quarter worth approximately $28,000. Contravisory Investment Management Inc. lifted its position in shares of Chord Energy by 48.9% in the 4th quarter. Contravisory Investment Management Inc. now owns 259 shares of the company’s stock worth $43,000 after acquiring an additional 85 shares during the period. Rockefeller Capital Management L.P. bought a new stake in shares of Chord Energy in the 4th quarter worth approximately $48,000. Finally, SRS Capital Advisors Inc. lifted its position in shares of Chord Energy by 306.9% in the 4th quarter. SRS Capital Advisors Inc. now owns 293 shares of the company’s stock worth $49,000 after acquiring an additional 221 shares during the period. Institutional investors and hedge funds own 97.76% of the company’s stock.

Chord Energy Trading Up 1.9 %

Shares of NASDAQ CHRD opened at $159.03 on Tuesday. Chord Energy has a 12 month low of $117.05 and a 12 month high of $175.20. The company has a market cap of $6.56 billion, a price-to-earnings ratio of 6.30 and a beta of 1.07. 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 business has a fifty day simple moving average of $159.17 and a 200-day simple moving average of $160.45.

About Chord Energy

(Get Free Report

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.

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Analyst Recommendations for Chord Energy (NASDAQ:CHRD)

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