Chord Energy (NASDAQ:CHRD) Upgraded at Truist Financial

Chord Energy (NASDAQ:CHRD) was upgraded by analysts at Truist Financial to a “strong-buy” rating in a report issued on Monday,Zacks.com reports.

A number of other brokerages have also issued reports on CHRD. Weiss Ratings raised shares of Chord Energy from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Tuesday, March 17th. Zacks Research raised shares of Chord Energy from a “strong sell” rating to a “hold” rating in a research note on Friday, March 6th. Citigroup increased their price objective on Chord Energy from $97.00 to $120.00 and gave the stock a “neutral” rating in a report on Friday, March 6th. Scotiabank reissued a “sector perform” rating and set a $114.00 price objective on shares of Chord Energy in a research report on Friday, January 16th. Finally, Wells Fargo & Company boosted their target price on Chord Energy from $109.00 to $136.00 and gave the company an “overweight” rating in a research note on Monday, March 16th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $134.42.

Chord Energy Price Performance

NASDAQ CHRD opened at $136.99 on Monday. The company has a 50 day simple moving average of $107.89 and a 200-day simple moving average of $99.23. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.06 and a quick ratio of 0.98. The firm has a market capitalization of $7.77 billion, a price-to-earnings ratio of 217.44 and a beta of 0.84. Chord Energy has a 52-week low of $79.83 and a 52-week high of $138.88.

Chord Energy (NASDAQ:CHRD) last posted its quarterly earnings results on Wednesday, February 25th. The company reported $1.28 EPS for the quarter, topping the consensus estimate of $1.17 by $0.11. The business had revenue of $1.17 billion during the quarter, compared to analysts’ expectations of $1.03 billion. Chord Energy had a net margin of 0.91% and a return on equity of 6.71%. The firm’s quarterly revenue was down 19.6% compared to the same quarter last year. During the same period last year, the company posted $3.49 earnings per share. Equities research analysts predict that Chord Energy will post 15.59 earnings per share for the current fiscal year.

Insider Buying and Selling at Chord Energy

In related news, CAO Lara J. Kroll sold 5,000 shares of the company’s stock in a transaction on Tuesday, March 3rd. The shares were sold at an average price of $113.66, for a total value of $568,300.00. Following the completion of the sale, the chief accounting officer directly owned 8,921 shares in the company, valued at approximately $1,013,960.86. This represents a 35.92% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Douglas E. Brooks sold 2,126 shares of the stock in a transaction on Friday, March 6th. The stock was sold at an average price of $120.28, for a total transaction of $255,715.28. Following the transaction, the director directly owned 25,181 shares in the company, valued at $3,028,770.68. The trade was a 7.79% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 23,927 shares of company stock worth $2,912,028 over the last quarter. Company insiders own 0.70% of the company’s stock.

Institutional Trading of Chord Energy

Several large investors have recently made changes to their positions in CHRD. WealthCollab LLC increased its holdings in shares of Chord Energy by 90.6% during the 2nd quarter. WealthCollab LLC now owns 305 shares of the company’s stock valued at $30,000 after acquiring an additional 145 shares during the last quarter. Quent Capital LLC bought a new position in shares of Chord Energy in the 3rd quarter valued at approximately $32,000. Pilgrim Partners Asia Pte Ltd acquired a new stake in Chord Energy in the 3rd quarter worth approximately $46,000. Rockefeller Capital Management L.P. lifted its holdings in Chord Energy by 213.1% in the 4th quarter. Rockefeller Capital Management L.P. now owns 501 shares of the company’s stock worth $47,000 after purchasing an additional 341 shares during the last quarter. Finally, TD Private Client Wealth LLC boosted its position in Chord Energy by 360.3% during the fourth quarter. TD Private Client Wealth LLC now owns 580 shares of the company’s stock worth $54,000 after purchasing an additional 454 shares during the period. Institutional investors own 97.76% of the company’s stock.

About Chord Energy

Chord Energy Corporation (NASDAQ: CHRD), formerly known as Oasis Petroleum Inc, is an independent exploration and production company focused on the acquisition, development and production of crude oil, natural gas and natural gas liquids. Headquartered in Houston, Texas, Chord Energy emerged from financial restructuring in early 2021 and rebranded in October 2022 to reflect its renewed strategic vision.

The company’s core operations are concentrated in two prolific U.S. resource plays: the Williston Basin across North Dakota and Montana, and the Delaware Basin spanning parts of West Texas and southeastern New Mexico.