Chord Energy (NASDAQ:CHRD) Price Target Lowered to $193.00 at Piper Sandler

Chord Energy (NASDAQ:CHRD) had its price target lowered by Piper Sandler from $194.00 to $193.00 in a research report released on Wednesday,Benzinga reports. The firm currently has an overweight rating on the stock.

CHRD has been the topic of several other reports. Wells Fargo & Company decreased their price target on shares of Chord Energy from $176.00 to $175.00 and set an “overweight” rating on the stock in a research report on Wednesday. Truist Financial increased their price target on shares of Chord Energy from $185.00 to $186.00 and gave the stock a “buy” rating in a research report on Monday. Siebert Williams Shank upgraded shares of Chord Energy to a “strong-buy” rating in a research report on Tuesday, October 15th. Mizuho decreased their price target on shares of Chord Energy from $192.00 to $178.00 and set an “outperform” rating on the stock in a research report on Monday, December 16th. Finally, Morgan Stanley began coverage on shares of Chord Energy in a research note on Friday, January 10th. They issued an “equal weight” rating and a $158.00 price objective for the company. Three equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $173.08.

Chord Energy Stock Up 0.9 %

Shares of Chord Energy stock opened at $127.78 on Wednesday. The company has a market cap of $7.81 billion, a price-to-earnings ratio of 6.58, a price-to-earnings-growth ratio of 5.57 and a beta of 0.99. The company’s 50 day moving average is $122.51 and its 200 day moving average is $138.29. Chord Energy has a twelve month low of $109.59 and a twelve month high of $190.23. The company has a quick ratio of 0.89, a current ratio of 0.93 and a debt-to-equity ratio of 0.10.

Chord Energy (NASDAQ:CHRD) last issued its quarterly earnings data on Wednesday, November 6th. The company reported $3.40 earnings per share for the quarter, missing analysts’ consensus estimates of $3.63 by ($0.23). The company had revenue of $1.12 billion for the quarter, compared to the consensus estimate of $1.26 billion. Chord Energy had a net margin of 19.74% and a return on equity of 12.88%. The firm’s revenue for the quarter was up 33.4% on a year-over-year basis. During the same quarter last year, the company earned $5.04 EPS. Research analysts anticipate that Chord Energy will post 16.33 EPS for the current year.

Chord Energy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Wednesday, November 27th were paid a dividend of $1.25 per share. The ex-dividend date was Wednesday, November 27th. This represents a $5.00 annualized dividend and a yield of 3.91%. Chord Energy’s payout ratio is 25.75%.

Insider Activity at Chord Energy

In other Chord Energy news, CAO Shannon Browning Kinney sold 1,000 shares of Chord Energy stock in a transaction on Monday, December 9th. The shares were sold at an average price of $121.27, for a total value of $121,270.00. Following the completion of the transaction, the chief accounting officer now directly owns 20,488 shares of the company’s stock, valued at $2,484,579.76. This trade represents a 4.65 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 0.70% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Chord Energy

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Brooklyn Investment Group purchased a new position in shares of Chord Energy in the 4th quarter worth $29,000. Albert D Mason Inc. grew its stake in shares of Chord Energy by 70.9% in the 4th quarter. Albert D Mason Inc. now owns 5,543 shares of the company’s stock worth $648,000 after buying an additional 2,299 shares in the last quarter. Merit Financial Group LLC bought a new stake in shares of Chord Energy in the 4th quarter worth about $553,000. Tallon Kerry Patrick bought a new stake in shares of Chord Energy in the 4th quarter worth about $204,000. Finally, Hennion & Walsh Asset Management Inc. lifted its holdings in shares of Chord Energy by 5.3% in the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 5,622 shares of the company’s stock worth $657,000 after acquiring an additional 284 shares during the last quarter. 97.76% of the stock is owned by hedge funds and other institutional investors.

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.