Chord Energy (NASDAQ:CHRD) Price Target Raised to $130.00

Chord Energy (NASDAQ:CHRD) had its target price increased by UBS Group from $122.00 to $130.00 in a report released on Tuesday morning, Marketbeat Ratings reports. UBS Group currently has a buy rating on the stock.

CHRD has been the subject of a number of other reports. Bank of America decreased their target price on shares of Chord Energy from $114.00 to $112.00 and set a “buy” rating for the company in a research report on Friday, May 23rd. Citigroup boosted their price target on Chord Energy from $120.00 to $125.00 and gave the company a “buy” rating in a report on Wednesday, July 9th. Wells Fargo & Company upped their price objective on Chord Energy from $143.00 to $146.00 and gave the stock an “overweight” rating in a research report on Friday, August 15th. Piper Sandler raised their price objective on shares of Chord Energy from $164.00 to $166.00 and gave the stock an “overweight” rating in a research note on Thursday, August 14th. Finally, Mizuho cut their target price on shares of Chord Energy from $152.00 to $142.00 and set an “outperform” rating for the company in a report on Monday. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $149.42.

Chord Energy Price Performance

Shares of NASDAQ CHRD opened at $104.33 on Tuesday. Chord Energy has a 52 week low of $79.83 and a 52 week high of $140.15. The business’s 50 day moving average price is $105.77 and its 200 day moving average price is $101.06. The company has a quick ratio of 0.90, a current ratio of 0.97 and a debt-to-equity ratio of 0.11. The firm has a market cap of $5.97 billion, a P/E ratio of 26.55 and a beta of 0.97.

Chord Energy (NASDAQ:CHRD) last announced its quarterly earnings data on Wednesday, August 6th. The company reported $1.79 EPS for the quarter, missing the consensus estimate of $1.88 by ($0.09). The business had revenue of $1.18 billion for the quarter, compared to analyst estimates of $984.07 million. Chord Energy had a net margin of 5.02% and a return on equity of 9.02%. The business’s revenue was up 5.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $4.69 earnings per share. On average, sell-side analysts expect that Chord Energy will post 15.59 earnings per share for the current year.

Chord Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 8th. Shareholders of record on Thursday, August 21st were paid a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a yield of 5.0%. The ex-dividend date of this dividend was Thursday, August 21st. Chord Energy’s dividend payout ratio (DPR) is 132.32%.

Insider Buying and Selling at Chord Energy

In other news, EVP Shannon Browning Kinney sold 3,019 shares of the company’s stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $105.43, for a total value of $318,293.17. Following the completion of the sale, the executive vice president directly owned 14,650 shares in the company, valued at $1,544,549.50. This represents a 17.09% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.70% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of CHRD. Geode Capital Management LLC boosted its position in shares of Chord Energy by 1.0% during the 2nd quarter. Geode Capital Management LLC now owns 1,890,420 shares of the company’s stock valued at $183,112,000 after acquiring an additional 19,227 shares during the last quarter. American Century Companies Inc. raised its stake in Chord Energy by 15.5% during the second quarter. American Century Companies Inc. now owns 1,337,079 shares of the company’s stock worth $129,496,000 after purchasing an additional 179,209 shares during the period. Sourcerock Group LLC boosted its holdings in Chord Energy by 2.1% in the 2nd quarter. Sourcerock Group LLC now owns 1,031,973 shares of the company’s stock valued at $99,947,000 after purchasing an additional 20,916 shares during the last quarter. Adage Capital Partners GP L.L.C. boosted its holdings in Chord Energy by 22.2% in the 2nd quarter. Adage Capital Partners GP L.L.C. now owns 990,381 shares of the company’s stock valued at $95,918,000 after purchasing an additional 180,000 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC grew its stake in shares of Chord Energy by 4.1% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 824,760 shares of the company’s stock valued at $83,169,000 after buying an additional 32,802 shares during the period. Hedge funds and other institutional investors own 97.76% of the company’s stock.

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.