Chord Energy (NASDAQ:CHRD) Price Target Lowered to $135.00 at Citigroup

Chord Energy (NASDAQ:CHRD) had its target price decreased by Citigroup from $160.00 to $135.00 in a research report sent to investors on Tuesday morning,Benzinga reports. Citigroup currently has a buy rating on the stock.

CHRD has been the topic of several other research reports. Morgan Stanley started coverage on Chord Energy in a report on Friday, January 10th. They set an “equal weight” rating and a $158.00 price objective on the stock. Mizuho cut their price objective on Chord Energy from $192.00 to $178.00 and set an “outperform” rating on the stock in a report on Monday, December 16th. Bank of America reiterated a “neutral” rating and set a $138.00 price objective (down previously from $208.00) on shares of Chord Energy in a report on Monday, January 13th. Wolfe Research upgraded 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. Finally, Truist Financial lifted their price objective on Chord Energy from $185.00 to $186.00 and gave the company a “buy” rating in a report on Monday, January 13th. Three investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $166.17.

Chord Energy Price Performance

Shares of CHRD opened at $104.13 on Tuesday. 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 1 year low of $100.58 and a 1 year high of $190.23. The stock has a market cap of $6.37 billion, a P/E ratio of 5.36, a price-to-earnings-growth ratio of 5.83 and a beta of 0.98. The stock’s 50-day moving average price is $116.32 and its two-hundred day moving average price is $126.09.

Chord Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 26th. Shareholders of record on Tuesday, March 11th will be given a dividend of $1.30 per share. This is a positive change from Chord Energy’s previous quarterly dividend of $1.25. The ex-dividend date of this dividend is Tuesday, March 11th. This represents a $5.20 annualized dividend and a dividend yield of 4.99%. Chord Energy’s payout ratio is 32.62%.

Insiders Place Their Bets

In other Chord Energy news, CAO Shannon Browning Kinney sold 1,000 shares of the business’s stock in a transaction that occurred on Monday, December 16th. The stock was 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 of the company’s stock, valued at $2,267,428.80. The trade was a 4.88 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.70% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Altshuler Shaham Ltd acquired a new position in shares of Chord Energy during the 4th quarter worth approximately $25,000. Stone House Investment Management LLC acquired a new position in shares of Chord Energy during the 3rd quarter worth approximately $26,000. Brooklyn Investment Group acquired a new position in shares of Chord Energy during the 4th quarter worth approximately $29,000. Twin Tree Management LP acquired a new position in shares of Chord Energy during the 4th quarter worth approximately $33,000. Finally, Larson Financial Group LLC increased its holdings in shares of Chord Energy by 238.3% during the 4th quarter. Larson Financial Group LLC now owns 318 shares of the company’s stock worth $37,000 after acquiring an additional 224 shares during the last quarter. 97.76% of the stock is owned by institutional investors and hedge funds.

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.