Chord Energy (NASDAQ:CHRD) Price Target Cut to $206.00

Chord Energy (NASDAQ:CHRD) had its price target lowered by Piper Sandler from $234.00 to $206.00 in a research note published on Thursday, Benzinga reports. Piper Sandler currently has an overweight rating on the stock.

A number of other equities research analysts have also weighed in on the company. Mizuho raised their price objective on Chord Energy from $195.00 to $214.00 and gave the company a buy rating in a research note on Monday, May 13th. BMO Capital Markets initiated coverage on shares of Chord Energy in a research report on Monday, June 3rd. They set an outperform rating and a $230.00 price target for the company. Truist Financial cut their price target 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 reissued a buy rating and set a $201.00 price objective on shares of Chord Energy in a report on Friday, June 14th. Finally, Citigroup cut their target price on shares of Chord Energy from $195.00 to $180.00 and set a buy rating on the stock in a research note on Monday, August 12th. One investment analyst has rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of Moderate Buy and an average price target of $206.00.

Chord Energy Price Performance

CHRD opened at $153.10 on Thursday. Chord Energy has a twelve month low of $145.53 and a twelve month high of $190.23. The firm has a market cap of $6.38 billion, a price-to-earnings ratio of 7.18, a PEG ratio of 0.92 and a beta of 1.01. The company has a current ratio of 1.14, a quick ratio of 1.07 and a debt-to-equity ratio of 0.08. The company has a fifty day simple moving average of $166.38 and a 200 day simple moving average of $170.16.

Chord Energy (NASDAQ:CHRD) last posted its quarterly earnings data on Wednesday, August 7th. The company reported $4.69 earnings per share 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 firm had revenue of $902.70 million during the quarter, compared to analysts’ expectations of $982.43 million. During the same period in the previous year, the company earned $3.65 earnings per share. The business’s quarterly revenue was up 29.8% on a year-over-year basis. Equities research analysts expect that Chord Energy will post 20.85 EPS for the current fiscal 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 given a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a dividend yield of 3.27%. The ex-dividend date is Wednesday, August 21st. Chord Energy’s dividend payout ratio is presently 23.46%.

Hedge Funds Weigh In On Chord Energy

A number of large investors have recently bought and sold shares of CHRD. Dimensional Fund Advisors LP grew its holdings in shares of Chord Energy by 72.0% during the second quarter. Dimensional Fund Advisors LP now owns 1,771,780 shares of the company’s stock valued at $297,090,000 after purchasing an additional 741,705 shares during the last quarter. Victory Capital Management Inc. boosted its position in Chord Energy by 397.5% during the 2nd quarter. Victory Capital Management Inc. now owns 1,589,061 shares of the company’s stock valued at $266,454,000 after purchasing an additional 1,269,658 shares during the period. First Trust Advisors LP grew its stake in Chord Energy by 11.0% during the 4th quarter. First Trust Advisors LP now owns 1,402,359 shares of the company’s stock worth $233,114,000 after buying an additional 138,957 shares during the last quarter. Boston Partners increased its position in Chord Energy by 107.0% in the first quarter. Boston Partners now owns 1,305,942 shares of the company’s stock worth $232,813,000 after buying an additional 674,965 shares during the period. Finally, American Century Companies Inc. lifted its stake in Chord Energy by 13.2% in the second quarter. American Century Companies Inc. now owns 971,982 shares of the company’s stock valued at $162,982,000 after buying an additional 113,618 shares during the last quarter. Institutional investors 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.