Chord Energy (NASDAQ:CHRD) Price Target Raised to $164.00

Chord Energy (NASDAQ:CHRD) had its price objective increased by Mizuho from $162.00 to $164.00 in a research report report published on Wednesday morning, Marketbeat reports. The brokerage currently has an outperform rating on the stock.

CHRD has been the topic of a number of other research reports. Royal Bank Of Canada lowered their price target on Chord Energy from $135.00 to $128.00 and set an “outperform” rating on the stock in a report on Tuesday, January 13th. Zacks Research upgraded Chord Energy from a “hold” rating to a “strong-buy” rating in a report on Monday, April 6th. Roth Mkm restated a “buy” rating and issued a $140.00 price target (up from $130.00) on shares of Chord Energy in a report on Friday, April 17th. Piper Sandler upped their price target on Chord Energy from $158.00 to $190.00 and gave the stock an “overweight” rating in a report on Thursday, March 12th. Finally, Citigroup upped their price target on Chord Energy from $120.00 to $155.00 and gave the stock a “neutral” rating in a report on Tuesday, March 31st. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $156.15.

Chord Energy Stock Performance

Shares of CHRD stock opened at $136.44 on Wednesday. The company has a market cap of $7.73 billion, a price-to-earnings ratio of -120.74 and a beta of 0.52. The stock has a 50 day simple moving average of $131.32 and a 200-day simple moving average of $107.34. Chord Energy has a 12-month low of $84.25 and a 12-month high of $150.50. The company has a current ratio of 1.02, a quick ratio of 0.98 and a debt-to-equity ratio of 0.18.

Chord Energy (NASDAQ:CHRD) last released its quarterly earnings results on Tuesday, May 5th. The company reported $4.56 earnings per share for the quarter, topping analysts’ consensus estimates of $3.51 by $1.05. The business had revenue of $1.67 billion for the quarter, compared to analysts’ expectations of $1.21 billion. Chord Energy had a positive return on equity of 7.06% and a negative net margin of 1.25%.The company’s revenue was up 37.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $4.04 EPS. On average, equities analysts forecast that Chord Energy will post 16.94 EPS for the current year.

Chord Energy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 5th. Shareholders of record on Wednesday, May 20th will be issued a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a yield of 3.8%. The ex-dividend date is Wednesday, May 20th. Chord Energy’s dividend payout ratio is -460.18%.

Insider Buying and Selling

In other Chord Energy news, CAO Lara J. Kroll sold 5,000 shares of the stock in a transaction on Tuesday, March 3rd. The stock was sold at an average price of $113.66, for a total transaction of $568,300.00. Following the sale, the chief accounting officer owned 8,921 shares in the company, valued at approximately $1,013,960.86. This represents a 35.92% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Shannon Browning Kinney sold 1,801 shares of the stock in a transaction on Tuesday, March 3rd. The shares were sold at an average price of $114.36, for a total value of $205,962.36. Following the sale, the executive vice president owned 20,188 shares in the company, valued at approximately $2,308,699.68. This trade represents a 8.19% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 23,927 shares of company stock worth $2,912,028 in the last 90 days. Corporate insiders own 0.79% of the company’s stock.

Institutional Investors Weigh In On Chord Energy

Hedge funds have recently made changes to their positions in the business. Citigroup Inc. boosted its holdings in shares of Chord Energy by 31.1% during the third quarter. Citigroup Inc. now owns 111,590 shares of the company’s stock worth $11,089,000 after purchasing an additional 26,499 shares during the last quarter. Phocas Financial Corp. raised its position in shares of Chord Energy by 20.7% in the 4th quarter. Phocas Financial Corp. now owns 72,153 shares of the company’s stock worth $6,689,000 after buying an additional 12,356 shares during the period. Massachusetts Financial Services Co. MA purchased a new position in shares of Chord Energy in the 3rd quarter worth $91,434,000. Unison Advisors LLC purchased a new position in shares of Chord Energy in the 4th quarter worth $701,000. Finally, Picton Mahoney Asset Management raised its position in shares of Chord Energy by 40.4% in the 3rd quarter. Picton Mahoney Asset Management now owns 50,008 shares of the company’s stock worth $4,971,000 after buying an additional 14,395 shares during the period. Institutional investors and hedge funds own 97.76% of the company’s stock.

Chord Energy Company Profile

Chord Energy Corporation (NASDAQ: CHRD), formerly known as Oasis Petroleum Inc, is an independent exploration and production company focused on the acquisition, development and production of crude oil, natural gas and natural gas liquids. Headquartered in Houston, Texas, Chord Energy emerged from financial restructuring in early 2021 and rebranded in October 2022 to reflect its renewed strategic vision.

The company’s core operations are concentrated in two prolific U.S. resource plays: the Williston Basin across North Dakota and Montana, and the Delaware Basin spanning parts of West Texas and southeastern New Mexico.