Citigroup Trims Chord Energy (NASDAQ:CHRD) Target Price to $180.00

Chord Energy (NASDAQ:CHRD) had its price target decreased by Citigroup from $195.00 to $180.00 in a research report report published on Monday, Benzinga reports. Citigroup currently has a buy rating on the stock.

Several other research firms have also recently weighed in on CHRD. Wolfe Research assumed coverage on Chord Energy in a research report on Thursday, July 18th. They set a peer perform rating on the stock. BMO Capital Markets initiated 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. Truist Financial dropped their target price on shares of Chord Energy from $226.00 to $223.00 and set a buy rating on the stock in a report on Monday, July 22nd. Bank of America reiterated a buy rating and issued a $201.00 price target on shares of Chord Energy in a research note on Friday, June 14th. Finally, Mizuho boosted their price objective on shares of Chord Energy from $195.00 to $214.00 and gave the stock a buy rating in a research note on Monday, May 13th. One equities research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of Moderate Buy and an average target price of $209.11.

Chord Energy Price Performance

CHRD opened at $152.79 on Monday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.07 and a current ratio of 1.14. The stock has a market capitalization of $6.37 billion, a PE ratio of 7.17, a price-to-earnings-growth ratio of 0.92 and a beta of 1.01. The stock’s 50 day moving average price is $166.97 and its 200-day moving average price is $170.29. Chord Energy has a 52-week low of $145.53 and a 52-week high of $190.23.

Chord Energy (NASDAQ:CHRD) last issued its quarterly earnings data on Wednesday, August 7th. The company reported $4.69 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $5.00 by ($0.31). Chord Energy had a net margin of 22.67% and a return on equity of 16.57%. The company had revenue of $902.70 million for the quarter, compared to analysts’ expectations of $982.43 million. During the same period in the previous year, the firm posted $3.65 earnings per share. The firm’s revenue for the quarter was up 29.8% compared to the same quarter last year. On average, equities research analysts predict that Chord Energy will post 20.85 EPS for the current year.

Chord Energy Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 5th. Investors of record on Wednesday, August 21st will be issued a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a dividend yield of 3.27%. The ex-dividend date of this dividend is Wednesday, August 21st. Chord Energy’s payout ratio is 23.46%.

Institutional Investors Weigh In On Chord Energy

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Raymond James Financial Services Advisors Inc. boosted its stake in shares of Chord Energy by 30.2% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 3,561 shares of the company’s stock worth $592,000 after acquiring an additional 827 shares during the period. International Assets Investment Management LLC bought a new position in shares of Chord Energy in the fourth quarter worth about $24,320,000. Louisiana State Employees Retirement System purchased a new position in Chord Energy during the 4th quarter valued at about $1,928,000. Strs Ohio lifted its holdings in Chord Energy by 14.0% during the fourth quarter. Strs Ohio now owns 6,500 shares of the company’s stock worth $1,080,000 after buying an additional 800 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Chord Energy by 15.2% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,874 shares of the company’s stock valued at $1,641,000 after purchasing an additional 1,300 shares during the last quarter. 97.76% of the stock is currently owned by hedge funds and other 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.