Chord Energy (NASDAQ:CHRD) Price Target Cut to $185.00 by Analysts at Wells Fargo & Company

Chord Energy (NASDAQ:CHRD) had its target price reduced by Wells Fargo & Company from $200.00 to $185.00 in a report released on Tuesday, Benzinga reports. Wells Fargo & Company currently has an overweight rating on the stock.

A number of other research analysts have also commented on the company. Piper Sandler lowered their price target on Chord Energy from $234.00 to $206.00 and set an overweight rating on the stock in a report on Thursday, August 15th. Jefferies Financial Group began coverage on shares of Chord Energy in a research note on Thursday, September 5th. They set a hold rating and a $160.00 target price on the stock. Royal Bank of Canada reaffirmed an outperform rating and issued a $200.00 price target on shares of Chord Energy in a research note on Friday, September 20th. Truist Financial lowered their price objective on shares of Chord Energy from $223.00 to $185.00 and set a buy rating on the stock in a research note on Monday, September 30th. Finally, Bank of America boosted their target price on Chord Energy from $201.00 to $208.00 and gave the stock a buy rating in a report on Wednesday, August 21st. Two analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of Moderate Buy and an average price target of $192.40.

Chord Energy Price Performance

NASDAQ CHRD opened at $136.45 on Tuesday. The company has a 50-day moving average price of $144.47 and a two-hundred day moving average price of $164.99. The stock has a market cap of $5.69 billion, a price-to-earnings ratio of 6.40, a price-to-earnings-growth ratio of 4.92 and a beta of 0.97. The company has a current ratio of 0.96, a quick ratio of 0.91 and a debt-to-equity ratio of 0.11. Chord Energy has a 52 week low of $126.96 and a 52 week high of $190.23.

Chord Energy (NASDAQ:CHRD) last issued its quarterly earnings data on Wednesday, August 7th. The company reported $4.69 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $5.00 by ($0.31). The business had revenue of $902.70 million during 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 business’s quarterly revenue was up 29.8% compared to the same quarter last year. During the same period last year, the company earned $3.65 earnings per share. Analysts forecast that Chord Energy will post 18.48 EPS for the current year.

Chord Energy Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 5th. Shareholders of record on Wednesday, August 21st were given a $1.25 dividend. The ex-dividend date was Wednesday, August 21st. This represents a $5.00 annualized dividend and a yield of 3.66%. Chord Energy’s dividend payout ratio (DPR) is 23.46%.

Insider Buying and Selling at Chord Energy

In related news, Director Samantha Holroyd acquired 500 shares of Chord Energy stock in a transaction dated Friday, August 23rd. The stock was acquired at an average cost of $149.51 per share, with a total value of $74,755.00. Following the purchase, 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 position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.70% of the stock is owned by corporate insiders.

Institutional Trading of Chord Energy

Hedge funds have recently bought and sold shares of the company. Dimensional Fund Advisors LP increased 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 in the last quarter. Victory Capital Management Inc. boosted its stake in Chord Energy by 397.5% in the 2nd quarter. Victory Capital Management Inc. now owns 1,589,061 shares of the company’s stock worth $266,454,000 after purchasing an additional 1,269,658 shares during the period. First Trust Advisors LP boosted its stake in Chord Energy by 11.0% in the 4th quarter. First Trust Advisors LP now owns 1,402,359 shares of the company’s stock worth $233,114,000 after purchasing an additional 138,957 shares during the period. Boston Partners grew its position in Chord Energy by 107.0% during the 1st quarter. Boston Partners now owns 1,305,942 shares of the company’s stock worth $232,813,000 after purchasing an additional 674,965 shares in the last quarter. Finally, American Century Companies Inc. raised its stake in Chord Energy by 13.2% during the 2nd quarter. American Century Companies Inc. now owns 971,982 shares of the company’s stock valued at $162,982,000 after purchasing an additional 113,618 shares during the period. 97.76% of the stock is owned by hedge funds and other 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.