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

Chord Energy (NASDAQ:CHRD) had its target price cut by Citigroup from $160.00 to $135.00 in a research note published on Tuesday,Benzinga reports. They currently have a buy rating on the stock.

Other analysts have also issued research reports about the company. Royal Bank of Canada cut their price objective on Chord Energy from $185.00 to $180.00 and set an “outperform” rating for the company in a report on Wednesday, November 20th. Morgan Stanley started coverage on Chord Energy in a research note on Friday, January 10th. They set an “equal weight” rating and a $158.00 price target for the company. Truist Financial upped their price target on shares of Chord Energy from $185.00 to $186.00 and gave the company a “buy” rating in a research report on Monday, January 13th. UBS Group dropped their price objective on shares of Chord Energy from $168.00 to $161.00 and set a “buy” rating on the stock in a report on Monday, December 9th. Finally, Wells Fargo & Company reduced their target price on shares of Chord Energy from $176.00 to $175.00 and set an “overweight” rating for the company in a report on Wednesday, January 15th. Three equities research 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’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $165.42.

Chord Energy Trading Up 1.1 %

Shares of CHRD stock opened at $102.45 on Tuesday. The stock has a market capitalization of $6.26 billion, a P/E ratio of 5.28, a P/E/G ratio of 5.83 and a beta of 0.98. The company has a current ratio of 0.93, a quick ratio of 0.89 and a debt-to-equity ratio of 0.10. The firm’s 50 day moving average is $115.91 and its 200 day moving average is $125.57. Chord Energy has a 12-month low of $99.40 and a 12-month high of $190.23.

Chord Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 26th. Stockholders of record on Tuesday, March 11th will be given a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a dividend yield of 5.08%. This is an increase from Chord Energy’s previous quarterly dividend of $1.25. The ex-dividend date of this dividend is Tuesday, March 11th. Chord Energy’s dividend payout ratio (DPR) is presently 32.62%.

Insider Buying and Selling

In related 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 value of $116,350.00. Following the transaction, the chief accounting officer now directly owns 19,488 shares of the company’s stock, valued at approximately $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 accessible through this link. 0.70% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Chord Energy

Institutional investors and hedge funds have recently modified their holdings of the stock. Victory Capital Management Inc. grew its stake in Chord Energy by 41.3% during the third quarter. Victory Capital Management Inc. now owns 2,245,435 shares of the company’s stock valued at $292,423,000 after acquiring an additional 656,374 shares in the last quarter. Merit Financial Group LLC purchased a new position in shares of Chord Energy during the fourth quarter valued at about $553,000. Geode Capital Management LLC increased its holdings in shares of Chord Energy by 3.0% in the third quarter. Geode Capital Management LLC now owns 1,162,442 shares of the company’s stock worth $151,077,000 after purchasing an additional 34,156 shares during the last quarter. Kingsview Wealth Management LLC lifted its position in shares of Chord Energy by 55.3% in the fourth quarter. Kingsview Wealth Management LLC now owns 21,744 shares of the company’s stock worth $2,542,000 after buying an additional 7,743 shares in the last quarter. Finally, Arkfeld Wealth Strategies L.L.C. boosted its position in shares of Chord Energy by 3.5% during the 4th quarter. Arkfeld Wealth Strategies L.L.C. now owns 92,211 shares of the company’s stock valued at $11,596,000 after acquiring an additional 3,151 shares during the last quarter. Institutional investors own 97.76% of the company’s stock.

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.