Chord Energy (NASDAQ:CHRD) Price Target Cut to $125.00 by Analysts at Bank of America

Chord Energy (NASDAQ:CHRD) had its price target reduced by equities researchers at Bank of America from $138.00 to $125.00 in a report issued on Tuesday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. Bank of America‘s price objective points to a potential upside of 11.19% from the company’s previous close.

A number of other equities research analysts have also recently issued reports on the company. Citigroup downgraded Chord Energy to a “reduce” rating in a research report on Wednesday, March 5th. Wolfe Research raised Chord Energy from a “peer perform” rating to an “outperform” rating and set a $155.00 price objective on the stock in a report on Friday, January 3rd. Morgan Stanley set a $139.00 target price on shares of Chord Energy and gave the company a “cautious” rating in a research report on Wednesday, March 26th. Wells Fargo & Company cut their price objective on shares of Chord Energy from $175.00 to $166.00 and set an “overweight” rating for the company in a research report on Monday, March 24th. Finally, Truist Financial upped their price target on shares of Chord Energy from $185.00 to $186.00 and gave the stock a “buy” rating in a report on Monday, January 13th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $161.46.

Chord Energy Stock Performance

Shares of CHRD stock opened at $112.42 on Tuesday. The company has a market capitalization of $6.69 billion, a price-to-earnings ratio of 5.80, a PEG ratio of 5.83 and a beta of 0.98. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.89 and a current ratio of 0.93. Chord Energy has a 52 week low of $99.40 and a 52 week high of $190.23. The company has a 50-day simple moving average of $111.25 and a 200 day simple moving average of $121.02.

Institutional Trading of Chord Energy

A number of hedge funds and other institutional investors have recently bought and sold shares of CHRD. 111 Capital bought a new stake in Chord Energy during the fourth quarter worth $461,000. Ascent Group LLC raised its stake in shares of Chord Energy by 11.1% during the 4th quarter. Ascent Group LLC now owns 17,300 shares of the company’s stock worth $2,023,000 after purchasing an additional 1,731 shares during the period. GF Fund Management CO. LTD. bought a new position in Chord Energy during the fourth quarter valued at about $2,197,000. GTS Securities LLC purchased a new stake in Chord Energy during the fourth quarter worth about $1,183,000. Finally, CSS LLC IL raised its position in Chord Energy by 30.9% in the fourth quarter. CSS LLC IL now owns 21,157 shares of the company’s stock worth $2,474,000 after acquiring an additional 4,994 shares during the period. Institutional investors own 97.76% of the company’s stock.

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.