Royal Bank of Canada Cuts Chord Energy (NASDAQ:CHRD) Price Target to $180.00

Chord Energy (NASDAQ:CHRD) had its price target trimmed by Royal Bank of Canada from $185.00 to $180.00 in a research report sent to investors on Wednesday morning,Benzinga reports. The brokerage currently has an outperform rating on the stock.

Other research analysts have also recently issued research reports about the stock. Siebert Williams Shank upgraded shares of Chord Energy to a “strong-buy” rating in a research report on Tuesday, October 15th. Truist Financial cut their target price 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. Citigroup decreased their price target on Chord Energy from $195.00 to $180.00 and set a “buy” rating for the company in a research note on Monday, August 12th. Jefferies Financial Group assumed coverage on shares of Chord Energy in a research note on Thursday, September 5th. They set a “hold” rating and a $160.00 price objective on the stock. Finally, UBS Group started coverage on shares of Chord Energy in a report on Wednesday, October 16th. They issued a “buy” rating and a $168.00 price objective for the company. Two investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Chord Energy currently has an average rating of “Moderate Buy” and an average price target of $188.45.

Chord Energy Trading Up 1.6 %

NASDAQ:CHRD opened at $134.43 on Wednesday. The firm has a market capitalization of $8.22 billion, a P/E ratio of 6.80, a P/E/G ratio of 5.14 and a beta of 0.98. The business has a 50 day simple moving average of $130.99 and a 200 day simple moving average of $153.18. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.93 and a quick ratio of 0.89. Chord Energy has a 12-month low of $123.30 and a 12-month high of $190.23.

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

Chord Energy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Wednesday, November 27th will be paid a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a yield of 3.72%. The ex-dividend date is Wednesday, November 27th. Chord Energy’s dividend payout ratio is presently 25.75%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in CHRD. GAMMA Investing LLC boosted its stake in shares of Chord Energy by 30.6% during the 3rd quarter. GAMMA Investing LLC now owns 414 shares of the company’s stock worth $54,000 after acquiring an additional 97 shares in the last quarter. Commerce Bank lifted its holdings in shares of Chord Energy by 4.3% during the third quarter. Commerce Bank now owns 2,361 shares of the company’s stock valued at $307,000 after purchasing an additional 98 shares during the last quarter. New York State Teachers Retirement System boosted its position in shares of Chord Energy by 0.4% in the 3rd quarter. New York State Teachers Retirement System now owns 27,274 shares of the company’s stock valued at $3,552,000 after purchasing an additional 100 shares during the period. UMB Bank n.a. increased its stake in Chord Energy by 77.7% in the 3rd quarter. UMB Bank n.a. now owns 231 shares of the company’s stock worth $30,000 after purchasing an additional 101 shares in the last quarter. Finally, Lindenwold Advisors INC raised its holdings in Chord Energy by 5.0% during the 3rd quarter. Lindenwold Advisors INC now owns 2,523 shares of the company’s stock worth $329,000 after buying an additional 119 shares during the period. Institutional investors and hedge funds 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.