BMO Capital Markets Trims Chord Energy (NASDAQ:CHRD) Target Price to $175.00

Chord Energy (NASDAQ:CHRD) had its price target reduced by BMO Capital Markets from $205.00 to $175.00 in a research note issued to investors on Friday, Benzinga reports. BMO Capital Markets currently has an outperform rating on the stock.

Several other analysts have also recently commented on CHRD. Wolfe Research began coverage on shares of Chord Energy in a research note on Thursday, July 18th. They set a peer perform rating for the company. Truist Financial decreased their target price on shares of Chord Energy from $223.00 to $185.00 and set a buy rating for the company in a research report on Monday, September 30th. Wells Fargo & Company cut their price target on Chord Energy from $200.00 to $185.00 and set an overweight rating on the stock in a research report on Tuesday, October 1st. Royal Bank of Canada reissued an outperform rating and issued a $200.00 price objective on shares of Chord Energy in a report on Friday, September 20th. Finally, Jefferies Financial Group initiated coverage on Chord Energy in a report on Thursday, September 5th. They set a hold rating and a $160.00 target price on the stock. Two investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and a consensus target price of $192.40.

Chord Energy Trading Up 1.0 %

Shares of Chord Energy stock opened at $137.78 on Friday. The firm’s 50 day simple moving average is $143.83 and its two-hundred day simple moving average is $164.68. The firm has a market capitalization of $5.74 billion, a price-to-earnings ratio of 6.47, a PEG ratio of 4.92 and a beta of 0.97. Chord Energy has a 12-month low of $126.96 and a 12-month high of $190.23. The company has a current ratio of 0.96, a quick ratio of 0.91 and a debt-to-equity ratio of 0.11.

Chord Energy (NASDAQ:CHRD) last issued its earnings results on Wednesday, August 7th. The company reported $4.69 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $5.00 by ($0.31). The firm had revenue of $902.70 million during the quarter, compared to analysts’ expectations of $982.43 million. Chord Energy had a return on equity of 15.06% and a net margin of 20.83%. The business’s revenue was up 29.8% on a year-over-year basis. During the same quarter last year, the business earned $3.65 EPS. Analysts predict that Chord Energy will post 18.48 EPS for the current year.

Chord Energy Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 5th. Shareholders of record on Wednesday, August 21st were issued a $1.25 dividend. This represents a $5.00 annualized dividend and a yield of 3.63%. The ex-dividend date was Wednesday, August 21st. Chord Energy’s payout ratio is currently 23.46%.

Insider Activity

In related news, Director Samantha Holroyd bought 500 shares of the company’s stock in a transaction dated Friday, August 23rd. The shares were acquired at an average price of $149.51 per share, for a total transaction of $74,755.00. Following the completion of the transaction, the director now directly owns 14,417 shares in the company, valued at $2,155,485.67. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.70% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Rise Advisors LLC acquired a new position in Chord Energy during the first quarter worth about $31,000. Ashton Thomas Private Wealth LLC purchased a new position in Chord Energy during the second quarter worth approximately $40,000. Benjamin F. Edwards & Company Inc. boosted its stake in Chord Energy by 125.9% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 244 shares of the company’s stock worth $41,000 after buying an additional 136 shares during the last quarter. GAMMA Investing LLC grew its holdings in Chord Energy by 151.6% in the 2nd quarter. GAMMA Investing LLC now owns 317 shares of the company’s stock valued at $53,000 after buying an additional 191 shares in the last quarter. Finally, Atlas Capital Advisors LLC acquired a new stake in shares of Chord Energy in the 2nd quarter worth $60,000. Hedge funds and other institutional investors own 97.76% of the company’s stock.

About Chord Energy

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.