Chord Energy (NASDAQ:CHRD) Price Target Raised to $211.00

Chord Energy (NASDAQ:CHRD) had its price target hoisted by Piper Sandler from $206.00 to $211.00 in a report issued on Tuesday morning, Benzinga reports. They currently have an overweight rating on the stock.

Several other analysts have also recently commented on the company. Wells Fargo & Company reduced their target price on Chord Energy from $200.00 to $185.00 and set an “overweight” rating on the stock in a report on Tuesday, October 1st. Bank of America boosted their price target on Chord Energy from $201.00 to $208.00 and gave the company a “buy” rating in a research note on Wednesday, August 21st. BMO Capital Markets dropped their price target on Chord Energy from $205.00 to $175.00 and set an “outperform” rating on the stock in a research note on Friday, October 4th. Royal Bank of Canada reissued an “outperform” rating and issued a $200.00 price target on shares of Chord Energy in a research note on Friday, September 20th. Finally, Truist Financial dropped their price target on Chord Energy from $223.00 to $185.00 and set a “buy” rating on the stock in a research note on Monday, September 30th. Two equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $190.18.

Chord Energy Stock Performance

Shares of CHRD stock opened at $129.98 on Tuesday. The business’s 50 day simple moving average is $139.02 and its 200 day simple moving average is $162.10. Chord Energy has a one year low of $126.38 and a one year high of $190.23. The stock has a market capitalization of $5.42 billion, a PE ratio of 6.10, a PEG ratio of 4.92 and a beta of 0.97. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.96 and a quick ratio of 0.91.

Chord Energy (NASDAQ:CHRD) last announced its earnings results on Wednesday, August 7th. The company reported $4.69 EPS for the quarter, missing the consensus estimate of $5.00 by ($0.31). Chord Energy had a net margin of 20.83% and a return on equity of 15.06%. The company had revenue of $902.70 million during the quarter, compared to the consensus estimate of $982.43 million. During the same quarter in the previous year, the company earned $3.65 earnings per share. The business’s revenue was up 29.8% on a year-over-year basis. As a group, research analysts forecast that Chord Energy will post 17.93 earnings per share for the current year.

Chord Energy Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 5th. Stockholders of record on Wednesday, August 21st were given a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a dividend yield of 3.85%. The ex-dividend date of this dividend was Wednesday, August 21st. Chord Energy’s payout ratio is 23.46%.

Insider Transactions at Chord Energy

In other news, Director Samantha Holroyd bought 500 shares of the stock in a transaction dated Friday, August 23rd. The shares were bought at an average cost of $149.51 per share, with a total value of $74,755.00. Following the completion of the transaction, the director now directly owns 14,417 shares of the company’s stock, valued at $2,155,485.67. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.70% of the stock is owned by insiders.

Institutional Investors Weigh In On Chord Energy

A number of institutional investors and hedge funds have recently bought and sold shares of CHRD. Hexagon Capital Partners LLC raised its position in Chord Energy by 462.9% in the 3rd quarter. Hexagon Capital Partners LLC now owns 197 shares of the company’s stock valued at $26,000 after buying an additional 162 shares during the last quarter. UMB Bank n.a. raised its position in Chord Energy by 77.7% in the 3rd quarter. UMB Bank n.a. now owns 231 shares of the company’s stock valued at $30,000 after buying an additional 101 shares during the last quarter. Rise Advisors LLC purchased a new stake in Chord Energy in the 1st quarter valued at $31,000. Ashton Thomas Private Wealth LLC purchased a new stake in Chord Energy in the 2nd quarter valued at $40,000. Finally, Benjamin F. Edwards & Company Inc. raised its position in Chord Energy by 125.9% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 244 shares of the company’s stock valued at $41,000 after buying an additional 136 shares during the last quarter. 97.76% of the stock is owned by hedge funds and other institutional investors.

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.