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

Chord Energy (NASDAQ:CHRD) had its target price increased by Piper Sandler from $206.00 to $211.00 in a research report released on Tuesday morning, Benzinga reports. The firm currently has an overweight rating on the stock.

Several other research analysts also recently commented on the company. Wolfe Research assumed coverage on Chord Energy in a research note on Thursday, July 18th. They issued a “peer perform” rating for the company. Citigroup cut their target price 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. Bank of America raised their target price on Chord Energy from $201.00 to $208.00 and gave the stock a “buy” rating in a research note on Wednesday, August 21st. Royal Bank of Canada restated an “outperform” rating and issued a $200.00 target price on shares of Chord Energy in a research note on Friday, September 20th. Finally, Truist Financial lowered their price target on Chord Energy from $223.00 to $185.00 and set a “buy” rating on the stock in a report on Monday, September 30th. Two research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $190.18.

Chord Energy Stock Down 0.5 %

Shares of NASDAQ:CHRD opened at $129.98 on Tuesday. The company has a market capitalization of $5.42 billion, a PE ratio of 6.10, a price-to-earnings-growth 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. The business has a fifty day moving average price of $139.02 and a two-hundred day moving average price of $162.10. Chord Energy has a 1 year low of $126.38 and a 1 year high of $190.23.

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

Chord Energy Cuts Dividend

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

Insider Activity at Chord Energy

In related news, Director Samantha Holroyd purchased 500 shares of Chord Energy stock in a transaction that occurred on Friday, August 23rd. The shares were acquired at an average cost of $149.51 per share, for a total transaction of $74,755.00. Following the transaction, the director now directly owns 14,417 shares in the company, valued at $2,155,485.67. The trade was 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 at the SEC website. 0.70% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Chord Energy

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Fortem Financial Group LLC grew its position in Chord Energy by 1.6% during the 1st quarter. Fortem Financial Group LLC now owns 5,958 shares of the company’s stock worth $1,062,000 after acquiring an additional 91 shares during the last quarter. GAMMA Investing LLC grew its position in 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 during the last quarter. UMB Bank n.a. grew its position in Chord Energy by 77.7% during the 3rd quarter. UMB Bank n.a. now owns 231 shares of the company’s stock worth $30,000 after acquiring an additional 101 shares during the last quarter. Benjamin F. Edwards & Company Inc. grew its position in Chord Energy by 125.9% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 244 shares of the company’s stock worth $41,000 after acquiring an additional 136 shares during the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd grew its position in shares of Chord Energy by 2.7% in the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 5,464 shares of the company’s stock worth $712,000 after buying an additional 145 shares during the last quarter. 97.76% of the stock is currently owned by 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.