Chord Energy (NASDAQ:CHRD) Price Target Lowered to $223.00 at Truist Financial

Chord Energy (NASDAQ:CHRD) had its price target trimmed by Truist Financial from $226.00 to $223.00 in a research note issued to investors on Monday, Benzinga reports. The firm currently has a buy rating on the stock.

A number of other equities analysts also recently issued reports on the company. Mizuho increased their price objective on Chord Energy from $195.00 to $214.00 and gave the stock a buy rating in a report on Monday, May 13th. BMO Capital Markets assumed coverage on Chord Energy in a report on Monday, June 3rd. They issued an outperform rating and a $230.00 price objective for the company. Citigroup assumed coverage on Chord Energy in a report on Monday, July 1st. They issued a buy rating and a $195.00 price objective for the company. Wolfe Research assumed coverage on Chord Energy in a report on Thursday, July 18th. They issued a peer perform rating for the company. Finally, Royal Bank of Canada increased their price objective on Chord Energy from $180.00 to $200.00 and gave the stock an outperform rating in a report on Monday, April 29th. One analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and a consensus target price of $210.78.

Chord Energy Price Performance

Shares of Chord Energy stock opened at $172.81 on Monday. The company has a quick ratio of 1.07, a current ratio of 1.14 and a debt-to-equity ratio of 0.08. The company has a market cap of $7.20 billion, a PE ratio of 8.11, a P/E/G ratio of 0.96 and a beta of 1.01. The business has a 50 day moving average of $172.72 and a 200 day moving average of $169.74. Chord Energy has a 52 week low of $148.32 and a 52 week high of $190.23.

Chord Energy (NASDAQ:CHRD) last announced its earnings results on Tuesday, May 7th. The company reported $5.10 EPS for the quarter, beating analysts’ consensus estimates of $4.75 by $0.35. The company had revenue of $1.09 billion during the quarter, compared to the consensus estimate of $771.87 million. Chord Energy had a return on equity of 16.57% and a net margin of 22.67%. The firm’s revenue for the quarter was up 24.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $4.50 earnings per share. As a group, equities research analysts forecast that Chord Energy will post 20.85 earnings per share for the current year.

Chord Energy Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 5th. Stockholders of record on Wednesday, May 22nd were issued a dividend of $2.94 per share. The ex-dividend date of this dividend was Tuesday, May 21st. This represents a $11.76 annualized dividend and a dividend yield of 6.81%. Chord Energy’s payout ratio is presently 23.46%.

Hedge Funds Weigh In On Chord Energy

Institutional investors and hedge funds have recently modified their holdings of the stock. Bank of New York Mellon Corp boosted its position in shares of Chord Energy by 27.7% during the second quarter. Bank of New York Mellon Corp now owns 761,852 shares of the company’s stock valued at $127,747,000 after buying an additional 165,196 shares during the last quarter. Retirement Systems of Alabama boosted its position in shares of Chord Energy by 39.7% during the second quarter. Retirement Systems of Alabama now owns 165,048 shares of the company’s stock valued at $27,675,000 after buying an additional 46,914 shares during the last quarter. Louisiana State Employees Retirement System boosted its position in shares of Chord Energy by 47.9% during the second quarter. Louisiana State Employees Retirement System now owns 17,600 shares of the company’s stock valued at $2,951,000 after buying an additional 5,700 shares during the last quarter. Fifth Third Wealth Advisors LLC purchased a new stake in shares of Chord Energy during the second quarter valued at $207,000. Finally, Grace & White Inc. NY purchased a new stake in shares of Chord Energy during the second quarter valued at $2,406,000. 97.76% of the stock is currently owned by 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.