Chord Energy (NASDAQ:CHRD) Price Target Raised to $122.00

Chord Energy (NASDAQ:CHRD) had its price target hoisted by UBS Group from $120.00 to $122.00 in a research report released on Wednesday,Benzinga reports. UBS Group currently has a buy rating on the stock.

Several other research firms also recently weighed in on CHRD. Wells Fargo & Company raised their price objective on Chord Energy from $143.00 to $146.00 and gave the company an “overweight” rating in a report on Friday, August 15th. Citigroup raised their price objective on Chord Energy from $120.00 to $125.00 and gave the company a “buy” rating in a report on Wednesday, July 9th. Mizuho lowered their target price on Chord Energy from $154.00 to $150.00 and set an “outperform” rating for the company in a research report on Tuesday, May 13th. Piper Sandler raised their target price on Chord Energy from $164.00 to $166.00 and gave the stock an “overweight” rating in a research report on Thursday, August 14th. Finally, Wall Street Zen lowered Chord Energy from a “hold” rating to a “sell” rating in a research report on Friday, July 18th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Chord Energy currently has an average rating of “Moderate Buy” and an average price target of $148.92.

Chord Energy Trading Up 3.9%

NASDAQ CHRD opened at $105.93 on Wednesday. The company has a quick ratio of 0.90, a current ratio of 0.97 and a debt-to-equity ratio of 0.11. Chord Energy has a twelve month low of $79.83 and a twelve month high of $154.75. The company has a market cap of $6.07 billion, a price-to-earnings ratio of 26.95 and a beta of 0.97. The business’s fifty day moving average is $104.50 and its 200 day moving average is $101.73.

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

Chord Energy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 8th. Investors of record on Thursday, August 21st will be paid a dividend of $1.30 per share. The ex-dividend date of this dividend is Thursday, August 21st. This represents a $5.20 annualized dividend and a yield of 4.9%. Chord Energy’s dividend payout ratio (DPR) is currently 132.32%.

Insider Buying and Selling

In related news, EVP Shannon Browning Kinney sold 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 14th. The stock was sold at an average price of $101.64, for a total transaction of $101,640.00. Following the completion of the sale, the executive vice president owned 17,669 shares of the company’s stock, valued at $1,795,877.16. This trade represents a 5.36% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.70% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Chord Energy

Several large investors have recently added to or reduced their stakes in CHRD. Bayforest Capital Ltd acquired a new stake in Chord Energy during the second quarter worth approximately $28,000. WealthCollab LLC increased its position in Chord Energy by 90.6% in the 2nd quarter. WealthCollab LLC now owns 305 shares of the company’s stock valued at $30,000 after buying an additional 145 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its position in Chord Energy by 91.2% in the 2nd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 411 shares of the company’s stock valued at $40,000 after buying an additional 196 shares in the last quarter. Hexagon Capital Partners LLC increased its position in Chord Energy by 321.7% in the 1st quarter. Hexagon Capital Partners LLC now owns 447 shares of the company’s stock valued at $50,000 after buying an additional 341 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd increased its position in Chord Energy by 5,877.8% in the 1st quarter. Caitong International Asset Management Co. Ltd now owns 538 shares of the company’s stock valued at $61,000 after buying an additional 529 shares in the last quarter. Institutional investors and hedge funds 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.