Chord Energy (NASDAQ:CHRD) Price Target Lowered to $166.00 at Wells Fargo & Company

Chord Energy (NASDAQ:CHRD) had its target price decreased by Wells Fargo & Company from $175.00 to $166.00 in a research report released on Monday morning,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the stock.

Several other equities research analysts have also recently commented on the company. Williams Trading set a $155.00 target price on Chord Energy in a research note on Wednesday, March 5th. 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 for the company. Citigroup downgraded shares of Chord Energy to a “reduce” rating in a research report on Wednesday, March 5th. UBS Group dropped 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 note on Monday, December 9th. Finally, Bank of America reaffirmed a “neutral” rating and issued a $138.00 price objective (down from $208.00) on shares of Chord Energy in a research note on Monday, January 13th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Chord Energy currently has an average rating of “Moderate Buy” and an average target price of $163.92.

Chord Energy Price Performance

CHRD opened at $112.78 on Monday. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.93 and a quick ratio of 0.89. The stock has a market capitalization of $6.73 billion, a P/E ratio of 5.81, a price-to-earnings-growth ratio of 5.83 and a beta of 0.98. The company’s 50 day simple moving average is $112.66 and its 200-day simple moving average is $121.74. Chord Energy has a one year low of $99.40 and a one year high of $190.23.

Chord Energy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 26th. Shareholders of record on Tuesday, March 11th will be issued a $1.30 dividend. This is an increase from Chord Energy’s previous quarterly dividend of $1.25. This represents a $5.20 annualized dividend and a dividend yield of 4.61%. The ex-dividend date of this dividend is Tuesday, March 11th. Chord Energy’s dividend payout ratio is 32.62%.

Hedge Funds Weigh In On Chord Energy

Institutional investors and hedge funds have recently modified their holdings of the business. Delta Capital Management LLC lifted its stake in Chord Energy by 4.3% in the fourth quarter. Delta Capital Management LLC now owns 2,200 shares of the company’s stock valued at $257,000 after buying an additional 90 shares in the last quarter. Commerce Bank raised 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 worth $307,000 after acquiring an additional 98 shares during the period. Gables Capital Management Inc. lifted its position in Chord Energy by 6.9% in the 4th quarter. Gables Capital Management Inc. now owns 1,550 shares of the company’s stock valued at $181,000 after acquiring an additional 100 shares in the last quarter. Envestnet Portfolio Solutions Inc. boosted its stake in Chord Energy by 2.9% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 3,710 shares of the company’s stock worth $434,000 after purchasing an additional 106 shares during the period. Finally, Exchange Traded Concepts LLC increased its holdings in Chord Energy by 1.8% during the 4th quarter. Exchange Traded Concepts LLC now owns 6,145 shares of the company’s stock worth $718,000 after purchasing an additional 110 shares in the last quarter. 97.76% of the stock is currently owned by institutional investors and hedge funds.

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.