Chord Energy (NASDAQ:CHRD) Price Target Lowered to $161.00 at UBS Group

Chord Energy (NASDAQ:CHRD) had its target price reduced by UBS Group from $168.00 to $161.00 in a research report released on Monday,Benzinga reports. They currently have a buy rating on the stock.

A number of other analysts have also recently weighed in on CHRD. BMO Capital Markets lowered their price objective on Chord Energy from $205.00 to $175.00 and set an “outperform” rating for the company in a research report on Friday, October 4th. Wells Fargo & Company cut their price objective on shares of Chord Energy from $185.00 to $180.00 and set an “overweight” rating on the stock in a report on Wednesday, October 16th. Piper Sandler lifted their target price on shares of Chord Energy from $211.00 to $212.00 and gave the stock an “overweight” rating in a research note on Monday, November 18th. Citigroup cut their price target on shares of Chord Energy from $195.00 to $180.00 and set a “buy” rating on the stock in a research note on Monday, August 12th. Finally, Truist Financial lowered their price objective on shares of Chord Energy from $223.00 to $185.00 and set a “buy” rating for the company in a research note on Monday, September 30th. Two 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 stock has an average rating of “Moderate Buy” and a consensus target price of $187.82.

Chord Energy Stock Up 1.8 %

Shares of Chord Energy stock opened at $119.33 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 cap of $7.29 billion, a price-to-earnings ratio of 6.14, a PEG ratio of 4.70 and a beta of 0.96. The firm’s 50-day moving average is $129.00 and its two-hundred day moving average is $148.21. Chord Energy has a 1 year low of $115.96 and a 1 year 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 analysts’ consensus estimates of $3.63 by ($0.23). The company had revenue of $1.12 billion during the quarter, compared to analysts’ expectations of $1.26 billion. Chord Energy had a net margin of 19.74% and a return on equity of 12.88%. The company’s revenue was up 33.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $5.04 earnings per share. As a group, research analysts expect that Chord Energy will post 16.5 earnings per share for the current fiscal year.

Chord Energy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Wednesday, November 27th will be issued a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a yield of 4.19%. The ex-dividend date is Wednesday, November 27th. Chord Energy’s dividend payout ratio (DPR) is 25.75%.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of CHRD. Victory Capital Management Inc. increased its holdings in shares of Chord Energy by 397.5% during the 2nd quarter. Victory Capital Management Inc. now owns 1,589,061 shares of the company’s stock valued at $266,454,000 after purchasing an additional 1,269,658 shares in the last quarter. Pacer Advisors Inc. increased its holdings in Chord Energy by 8,762.1% in the third quarter. Pacer Advisors Inc. now owns 1,245,034 shares of the company’s stock valued at $162,141,000 after buying an additional 1,230,985 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of Chord Energy by 72.0% in the second quarter. Dimensional Fund Advisors LP now owns 1,771,780 shares of the company’s stock worth $297,090,000 after acquiring an additional 741,705 shares during the period. Point72 Asset Management L.P. boosted its stake in shares of Chord Energy by 143.8% during the 3rd quarter. Point72 Asset Management L.P. now owns 880,787 shares of the company’s stock worth $114,705,000 after acquiring an additional 519,547 shares in the last quarter. Finally, Millennium Management LLC grew its position in shares of Chord Energy by 226.5% during the 2nd quarter. Millennium Management LLC now owns 696,488 shares of the company’s stock valued at $116,787,000 after acquiring an additional 483,144 shares during the period. 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.