Chord Energy (NASDAQ:CHRD) Price Target Raised to $176.00

Chord Energy (NASDAQ:CHRD) had its price objective hoisted by Wells Fargo & Company from $175.00 to $176.00 in a report issued on Tuesday,Benzinga reports. They currently have an overweight rating on the stock.

Several other equities research analysts have also recently weighed in on CHRD. Mizuho reduced their price target on Chord Energy from $192.00 to $178.00 and set an “outperform” rating on the stock in a research note on Monday. Truist Financial reduced their target price on shares of Chord Energy from $223.00 to $185.00 and set a “buy” rating on the stock in a research report on Monday, September 30th. UBS Group lowered their price target on shares of Chord Energy from $168.00 to $161.00 and set a “buy” rating for the company in a research report on Monday, December 9th. Bank of America boosted their price objective on shares of Chord Energy from $201.00 to $208.00 and gave the stock a “buy” rating in a research note on Wednesday, August 21st. Finally, Royal Bank of Canada decreased their target price on shares of Chord Energy from $185.00 to $180.00 and set an “outperform” rating for the company in a research note on Wednesday, November 20th. Two investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $182.55.

Chord Energy Trading Down 1.0 %

NASDAQ:CHRD opened at $110.41 on Tuesday. The company has a 50-day moving average price of $126.17 and a 200-day moving average price of $145.06. The stock has a market cap of $6.75 billion, a price-to-earnings ratio of 5.69, a P/E/G ratio of 4.79 and a beta of 0.96. 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 12 month low of $110.23 and a 12 month high of $190.23.

Chord Energy (NASDAQ:CHRD) last released its quarterly earnings results on Wednesday, November 6th. The company reported $3.40 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.63 by ($0.23). Chord Energy had a return on equity of 12.88% and a net margin of 19.74%. The company had revenue of $1.12 billion during the quarter, compared to the consensus estimate of $1.26 billion. During the same period in the previous year, the company earned $5.04 earnings per share. Chord Energy’s quarterly revenue was up 33.4% on a year-over-year basis. Equities analysts predict that Chord Energy will post 16.5 EPS for the current year.

Chord Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Wednesday, November 27th were issued a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a dividend yield of 4.53%. The ex-dividend date of this dividend was Wednesday, November 27th. Chord Energy’s payout ratio is currently 25.75%.

Insider Activity at Chord Energy

In related news, CAO Shannon Browning Kinney sold 1,000 shares of the stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $116.35, for a total transaction of $116,350.00. Following the transaction, the chief accounting officer now owns 19,488 shares in the company, valued at $2,267,428.80. This represents a 4.88 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.70% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Chord Energy

Hedge funds have recently added to or reduced their stakes in the stock. Envestnet Portfolio Solutions Inc. increased its position in Chord Energy by 11.5% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 3,899 shares of the company’s stock valued at $654,000 after acquiring an additional 403 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. purchased a new position in shares of Chord Energy in the second quarter worth approximately $19,532,000. Raymond James & Associates grew its position in Chord Energy by 77.6% during the second quarter. Raymond James & Associates now owns 140,582 shares of the company’s stock valued at $23,573,000 after buying an additional 61,442 shares during the period. Hennion & Walsh Asset Management Inc. increased its holdings in Chord Energy by 98.1% during the second quarter. Hennion & Walsh Asset Management Inc. now owns 3,292 shares of the company’s stock valued at $552,000 after buying an additional 1,630 shares during the last quarter. Finally, Fifth Third Wealth Advisors LLC bought a new position in Chord Energy in the second quarter worth approximately $207,000. 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.