Chord Energy (NASDAQ:CHRD) Price Target Raised to $198.00

Chord Energy (NASDAQ:CHRD) had its target price lifted by UBS Group from $197.00 to $198.00 in a research note published on Tuesday morning,Benzinga reports. UBS Group currently has a buy rating on the stock.

CHRD has been the topic of a number of other reports. Zacks Research upgraded shares of Chord Energy from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 20th. Citigroup lifted their price target on shares of Chord Energy from $130.00 to $150.00 and gave the stock a “neutral” rating in a research report on Thursday, September 17th. Truist Financial lifted their price target on shares of Chord Energy from $195.00 to $197.00 and gave the stock a “buy” rating in a research report on Friday, November 6th. Stifel Nicolaus started coverage on shares of Chord Energy in a research note on Thursday, September 10th. They set a “buy” rating and a $182.00 price target for the company. Finally, Weiss Ratings upgraded shares of Chord Energy from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, October 8th. Two analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $174.69.

Chord Energy Trading Up 2.5%

CHRD stock opened at $147.05 on Tuesday. The company has a market cap of $7.82 billion, a P/E ratio of 9.22 and a beta of 0.48. Chord Energy has a twelve month low of $87.35 and a twelve month high of $159.96. The company has a quick ratio of 1.29, a current ratio of 1.34 and a debt-to-equity ratio of 0.18. The business has a fifty day moving average of $144.89 and a 200-day moving average of $132.80.

Chord Energy (NASDAQ:CHRD) last posted its quarterly earnings results on Wednesday, November 4th. The company reported $6.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.68 by $0.40. The business had revenue of $1.71 billion for the quarter, compared to analysts’ expectations of $1.64 billion. Chord Energy had a return on equity of 12.54% and a net margin of 13.40%. The firm’s quarterly revenue was up 30.0% compared to the same quarter last year. During the same quarter last year, the business earned $2.35 earnings per share. As a group, equities research analysts expect that Chord Energy will post 23.38 EPS for the current year.

Chord Energy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 7th. Stockholders of record on Thursday, November 19th will be given a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a dividend yield of 3.5%. The ex-dividend date is Thursday, November 19th. Chord Energy’s payout ratio is presently 32.60%.

Insider Activity

In other news, Director Samantha Mckinney sold 9,750 shares of the company’s stock in a transaction dated Tuesday, September 1st. The stock was sold at an average price of $149.94, for a total value of $1,461,915.00. Following the completion of the sale, the director directly owned 7,280 shares of the company’s stock, valued at $1,091,563.20. This represents a 57.25% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 0.79% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Bessemer Group Inc. increased its stake in Chord Energy by 63.8% in the first quarter. Bessemer Group Inc. now owns 190 shares of the company’s stock valued at $27,000 after purchasing an additional 74 shares in the last quarter. Versant Capital Management Inc boosted its position in shares of Chord Energy by 330.9% during the second quarter. Versant Capital Management Inc now owns 237 shares of the company’s stock worth $27,000 after purchasing an additional 182 shares in the last quarter. Alpine Bank Wealth Management bought a new position in shares of Chord Energy during the third quarter worth $29,000. Signature Equity Partners LLC boosted its position in shares of Chord Energy by 48.6% during the third quarter. Signature Equity Partners LLC now owns 364 shares of the company’s stock worth $49,000 after purchasing an additional 119 shares in the last quarter. Finally, Root Financial Partners LLC bought a new position in shares of Chord Energy during the third quarter worth $56,000. Institutional investors own 97.76% of the company’s stock.

Chord Energy Company Profile

Chord Energy Corporation is an independent exploration and production company focused on finding, developing and producing oil and natural gas. Its operations are concentrated in the Williston Basin, primarily in North Dakota and Montana, where it develops resources in the Bakken and Three Forks formations. The company’s production includes crude oil, natural gas liquids and natural gas. Chord Energy was formed in 2022 through the combination of Oasis Petroleum and Whiting Petroleum, bringing together their Williston Basin operations.