Chord Energy (NASDAQ:CHRD) Rating Reiterated by Royal Bank of Canada

Chord Energy (NASDAQ:CHRD)‘s stock had its “outperform” rating reaffirmed by Royal Bank of Canada in a research note issued to investors on Friday, Benzinga reports. They presently have a $200.00 price target on the stock. Royal Bank of Canada’s target price indicates a potential upside of 46.27% from the company’s current price.

A number of other equities research analysts have also recently commented on the stock. Jefferies Financial Group began coverage on shares of Chord Energy in a research note on Thursday, September 5th. They issued a “hold” rating and a $160.00 price objective on the stock. BMO Capital Markets began coverage on shares of Chord Energy in a research note on Monday, June 3rd. They issued an “outperform” rating and a $230.00 price objective on the stock. Bank of America increased their price objective on shares of Chord Energy from $201.00 to $208.00 and gave the company a “buy” rating in a research note on Wednesday, August 21st. Citigroup reduced their target price on shares of Chord Energy from $195.00 to $180.00 and set a “buy” rating on the stock in a report on Monday, August 12th. Finally, Piper Sandler reduced their target price on shares of Chord Energy from $234.00 to $206.00 and set an “overweight” rating on the stock in a report on Thursday, August 15th. Two investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, Chord Energy presently has a consensus rating of “Moderate Buy” and an average target price of $202.10.

Chord Energy Stock Performance

NASDAQ:CHRD opened at $136.73 on Friday. The company has a quick ratio of 0.91, a current ratio of 0.96 and a debt-to-equity ratio of 0.11. Chord Energy has a fifty-two week low of $129.75 and a fifty-two week high of $190.23. The stock has a market cap of $5.70 billion, a PE ratio of 6.42, a price-to-earnings-growth ratio of 4.48 and a beta of 0.99. The firm’s fifty day simple moving average is $152.80 and its 200-day simple moving average is $167.18.

Chord Energy (NASDAQ:CHRD) last issued its quarterly earnings data on Wednesday, August 7th. The company reported $4.69 EPS for the quarter, missing analysts’ consensus estimates of $5.00 by ($0.31). The business had revenue of $902.70 million during the quarter, compared to analyst estimates of $982.43 million. Chord Energy had a net margin of 20.83% and a return on equity of 15.06%. Chord Energy’s revenue was up 29.8% on a year-over-year basis. During the same period in the previous year, the company posted $3.65 earnings per share. Analysts expect that Chord Energy will post 19.67 earnings per share for the current fiscal year.

Insider Transactions at Chord Energy

In related news, Director Samantha Holroyd acquired 500 shares of the business’s stock in a transaction dated Friday, August 23rd. The shares were acquired at an average cost of $149.51 per share, for a total transaction of $74,755.00. Following the acquisition, the director now directly owns 14,417 shares in the company, valued at approximately $2,155,485.67. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.70% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Rise Advisors LLC purchased a new position in shares of Chord Energy during the 1st quarter worth about $31,000. Ashton Thomas Private Wealth LLC purchased a new position in shares of Chord Energy during the 2nd quarter worth about $40,000. Benjamin F. Edwards & Company Inc. lifted its holdings in shares of Chord Energy by 125.9% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 244 shares of the company’s stock worth $41,000 after acquiring an additional 136 shares during the period. GAMMA Investing LLC lifted its holdings in shares of Chord Energy by 151.6% during the 2nd quarter. GAMMA Investing LLC now owns 317 shares of the company’s stock worth $53,000 after acquiring an additional 191 shares during the period. Finally, Atlas Capital Advisors LLC purchased a new position in Chord Energy in the second quarter valued at approximately $60,000. 97.76% of the stock is currently owned by hedge funds and other 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.