Chord Energy (NASDAQ:CHRD) Stock Rating Reaffirmed by Bank of America

Chord Energy (NASDAQ:CHRD)‘s stock had its “buy” rating reissued by research analysts at Bank of America in a research report issued to clients and investors on Friday, Marketbeat reports. They currently have a $201.00 target price on the stock. Bank of America‘s price target points to a potential upside of 23.75% from the company’s previous close.

A number of other equities research analysts also recently issued reports on CHRD. Stifel Nicolaus increased their price objective on Chord Energy from $178.00 to $211.00 and gave the stock a “buy” rating in a research report on Tuesday, February 27th. BMO Capital Markets began coverage on Chord Energy in a research report on Monday, June 3rd. They set an “outperform” rating and a $230.00 price target on the stock. Piper Sandler raised their price target on Chord Energy from $231.00 to $233.00 and gave the company an “overweight” rating in a research report on Friday, May 24th. Mizuho raised their price target on Chord Energy from $195.00 to $214.00 and gave the company a “buy” rating in a research report on Monday, May 13th. Finally, Royal Bank of Canada raised their price target on Chord Energy from $180.00 to $200.00 and gave the company an “outperform” rating in a research report on Monday, April 29th. One equities research analyst has rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $204.00.

Chord Energy Price Performance

Chord Energy stock opened at $162.42 on Friday. Chord Energy has a one year low of $145.06 and a one year high of $190.23. The business has a fifty day moving average price of $179.10 and a 200-day moving average price of $168.46. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.14 and a quick ratio of 1.07. The firm has a market capitalization of $6.77 billion, a P/E ratio of 7.62 and a beta of 1.05.

Chord Energy (NASDAQ:CHRD) last posted its quarterly earnings results on Tuesday, May 7th. The company reported $5.10 EPS for the quarter, topping analysts’ consensus estimates of $4.75 by $0.35. Chord Energy had a return on equity of 16.57% and a net margin of 22.67%. The firm had revenue of $1.09 billion during the quarter, compared to analyst estimates of $771.87 million. During the same period last year, the company earned $4.50 earnings per share. The business’s revenue for the quarter was up 24.8% on a year-over-year basis. As a group, equities research analysts forecast that Chord Energy will post 22.63 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its holdings in shares of Chord Energy by 0.5% during the 3rd quarter. Vanguard Group Inc. now owns 4,351,393 shares of the company’s stock valued at $705,230,000 after purchasing an additional 21,034 shares during the last quarter. FMR LLC boosted its holdings in shares of Chord Energy by 12.9% during the 3rd quarter. FMR LLC now owns 3,185,243 shares of the company’s stock valued at $516,232,000 after purchasing an additional 364,673 shares during the last quarter. Wellington Management Group LLP boosted its holdings in shares of Chord Energy by 1.0% during the 3rd quarter. Wellington Management Group LLP now owns 2,671,474 shares of the company’s stock valued at $432,966,000 after purchasing an additional 26,896 shares during the last quarter. First Trust Advisors LP boosted its holdings in shares of Chord Energy by 11.0% during the 4th quarter. First Trust Advisors LP now owns 1,402,359 shares of the company’s stock valued at $233,114,000 after purchasing an additional 138,957 shares during the last quarter. Finally, Boston Partners boosted its holdings in shares of Chord Energy by 107.0% during the 1st quarter. Boston Partners now owns 1,305,942 shares of the company’s stock valued at $232,813,000 after purchasing an additional 674,965 shares during the last quarter. Institutional investors own 97.76% of the company’s stock.

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.