Chord Energy (NASDAQ:CHRD) Price Target Cut to $158.00 by Analysts at Wells Fargo & Company

Chord Energy (NASDAQ:CHRD) had its target price dropped by equities researchers at Wells Fargo & Company from $166.00 to $158.00 in a report issued on Tuesday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Wells Fargo & Company‘s target price suggests a potential upside of 77.34% from the company’s current price.

A number of other research firms also recently commented on CHRD. Mizuho reduced their target price on Chord Energy from $192.00 to $178.00 and set an “outperform” rating for the company in a report on Monday, December 16th. Piper Sandler decreased their price objective on shares of Chord Energy from $193.00 to $184.00 and set an “overweight” rating on the stock in a report on Thursday, March 6th. Williams Trading set a $155.00 target price on shares of Chord Energy in a research report on Wednesday, March 5th. Citigroup decreased their price target on Chord Energy from $135.00 to $120.00 and set a “buy” rating on the stock in a research note on Monday, April 7th. Finally, Royal Bank of Canada dropped their price objective on Chord Energy from $165.00 to $145.00 and set an “outperform” rating for the company in a research note on Friday. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $157.00.

Chord Energy Price Performance

Shares of CHRD traded up $0.58 during mid-day trading on Tuesday, hitting $89.10. The company’s stock had a trading volume of 66,761 shares, compared to its average volume of 937,478. The company has a current ratio of 0.93, a quick ratio of 0.89 and a debt-to-equity ratio of 0.10. Chord Energy has a 1-year low of $79.83 and a 1-year high of $188.02. The firm has a market capitalization of $5.30 billion, a P/E ratio of 4.59, a P/E/G ratio of 5.83 and a beta of 0.96. The firm has a 50-day simple moving average of $105.66 and a 200 day simple moving average of $117.65.

Hedge Funds Weigh In On Chord Energy

Several institutional investors have recently added to or reduced their stakes in the business. Pacer Advisors Inc. grew its holdings in Chord Energy by 50.4% in the 4th quarter. Pacer Advisors Inc. now owns 1,872,156 shares of the company’s stock valued at $218,892,000 after buying an additional 627,122 shares during the period. Victory Capital Management Inc. raised its stake in Chord Energy by 27.6% during the fourth quarter. Victory Capital Management Inc. now owns 2,864,456 shares of the company’s stock worth $334,912,000 after purchasing an additional 619,021 shares during the period. FMR LLC raised its stake in Chord Energy by 11.5% during the fourth quarter. FMR LLC now owns 3,814,384 shares of the company’s stock worth $445,978,000 after purchasing an additional 394,372 shares during the period. Encompass Capital Advisors LLC acquired a new position in shares of Chord Energy in the 4th quarter valued at $43,745,000. Finally, Squarepoint Ops LLC grew its stake in shares of Chord Energy by 365.5% during the 4th quarter. Squarepoint Ops LLC now owns 337,284 shares of the company’s stock valued at $39,435,000 after buying an additional 264,828 shares during the period. 97.76% of the stock is currently owned by institutional investors and hedge funds.

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.