Truist Financial Trims Chord Energy (NASDAQ:CHRD) Target Price to $185.00

Chord Energy (NASDAQ:CHRD) had its price target trimmed by Truist Financial from $223.00 to $185.00 in a report released on Monday morning, Benzinga reports. The brokerage currently has a buy rating on the stock.

Other analysts also recently issued research reports about the stock. Wolfe Research assumed coverage on shares of Chord Energy in a research report on Thursday, July 18th. They set a peer perform rating for the company. Bank of America increased their target price on shares of Chord Energy from $201.00 to $208.00 and gave the stock a buy rating in a research report on Wednesday, August 21st. Citigroup lowered their price objective on shares of Chord Energy from $195.00 to $180.00 and set a buy rating for the company in a research report on Monday, August 12th. Piper Sandler lowered their price objective on shares of Chord Energy from $234.00 to $206.00 and set an overweight rating for the company in a research report on Thursday, August 15th. Finally, Royal Bank of Canada reaffirmed an outperform rating and issued a $200.00 price objective on shares of Chord Energy in a research report on Friday, September 20th. Two equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of Moderate Buy and an average price target of $197.90.

Chord Energy Trading Up 2.9 %

NASDAQ CHRD opened at $134.70 on Monday. Chord Energy has a 12 month low of $126.96 and a 12 month high of $190.23. The company has a 50-day moving average of $145.95 and a 200-day moving average of $165.42. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.96 and a quick ratio of 0.91. The company has a market cap of $5.62 billion, a P/E ratio of 6.25, a P/E/G ratio of 4.92 and a beta of 0.99.

Chord Energy (NASDAQ:CHRD) last posted its earnings results 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). The business had revenue of $902.70 million for the quarter, compared to analyst estimates of $982.43 million. Chord Energy had a return on equity of 15.06% and a net margin of 20.83%. The firm’s revenue for the quarter was up 29.8% compared to the same quarter last year. During the same period last year, the company posted $3.65 EPS. As a group, equities analysts predict that Chord Energy will post 18.48 earnings per share for the current year.

Chord Energy Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 5th. Stockholders of record on Wednesday, August 21st were paid a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a dividend yield of 3.71%. The ex-dividend date of this dividend was Wednesday, August 21st. Chord Energy’s dividend payout ratio (DPR) is currently 23.46%.

Insider Activity

In other Chord Energy news, Director Samantha Holroyd bought 500 shares of Chord Energy stock in a transaction dated Friday, August 23rd. The stock was bought at an average cost of $149.51 per share, for a total transaction of $74,755.00. Following the purchase, the director now owns 14,417 shares in the company, valued at approximately $2,155,485.67. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 0.70% of the company’s stock.

Hedge Funds Weigh In On Chord Energy

Institutional investors and hedge funds have recently made changes to their positions in the business. Rise Advisors LLC bought a new position in Chord Energy during the first quarter worth $31,000. Ashton Thomas Private Wealth LLC bought a new position in Chord Energy during the second quarter worth $40,000. Benjamin F. Edwards & Company Inc. lifted its stake in Chord Energy by 125.9% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 244 shares of the company’s stock worth $41,000 after purchasing an additional 136 shares during the last quarter. GAMMA Investing LLC lifted its stake in Chord Energy by 151.6% during the second quarter. GAMMA Investing LLC now owns 317 shares of the company’s stock worth $53,000 after purchasing an additional 191 shares during the last quarter. Finally, Atlas Capital Advisors LLC bought a new position in Chord Energy during the second quarter worth $60,000. 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.