Chord Energy (NASDAQ:CHRD) Price Target Raised to $176.00 at Wells Fargo & Company

Chord Energy (NASDAQ:CHRD) had its target price hoisted by Wells Fargo & Company from $175.00 to $176.00 in a research report released on Tuesday morning,Benzinga reports. They currently have an overweight rating on the stock.

Several other brokerages have also issued reports on CHRD. Truist Financial decreased their target price on Chord Energy from $223.00 to $185.00 and set a “buy” rating for the company in a research report on Monday, September 30th. Royal Bank of Canada dropped their target price on shares of Chord Energy from $185.00 to $180.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 20th. Siebert Williams Shank raised shares of Chord Energy to a “strong-buy” rating in a research report on Tuesday, October 15th. Bank of America lifted their price target on shares of Chord Energy from $201.00 to $208.00 and gave the stock a “buy” rating in a report on Wednesday, August 21st. Finally, Jefferies Financial Group started coverage on Chord Energy in a report on Thursday, September 5th. They set a “hold” rating and a $160.00 price objective for the company. Two research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Chord Energy currently has an average rating of “Moderate Buy” and an average target price of $182.55.

Chord Energy Stock Down 0.9 %

Chord Energy stock opened at $115.09 on Tuesday. Chord Energy has a fifty-two week low of $113.58 and a fifty-two week high of $190.23. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.89 and a current ratio of 0.93. The firm’s 50-day simple moving average is $127.45 and its 200 day simple moving average is $146.03. The stock has a market cap of $7.04 billion, a PE ratio of 5.93, a price-to-earnings-growth ratio of 4.79 and a beta of 0.96.

Chord Energy (NASDAQ:CHRD) last announced its earnings results on Wednesday, November 6th. The company reported $3.40 earnings per share for the quarter, missing analysts’ consensus estimates of $3.63 by ($0.23). The business had revenue of $1.12 billion during the quarter, compared to analysts’ expectations of $1.26 billion. Chord Energy had a return on equity of 12.88% and a net margin of 19.74%. Chord Energy’s quarterly revenue was up 33.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $5.04 EPS. Research analysts predict that Chord Energy will post 16.5 EPS for the current fiscal year.

Chord Energy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Wednesday, November 27th were given a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a dividend yield of 4.34%. The ex-dividend date of this dividend was Wednesday, November 27th. Chord Energy’s dividend payout ratio is presently 25.75%.

Insider Transactions at Chord Energy

In related news, CAO Shannon Browning Kinney sold 1,000 shares of the stock in a transaction on Monday, December 16th. The stock was sold at an average price of $116.35, for a total value of $116,350.00. Following the sale, the chief accounting officer now owns 19,488 shares in the company, valued at approximately $2,267,428.80. This trade represents a 4.88 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.70% of the company’s stock.

Hedge Funds Weigh In On Chord Energy

A number of institutional investors have recently added to or reduced their stakes in the business. Envestnet Portfolio Solutions Inc. grew its holdings in shares of Chord Energy by 11.5% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 3,899 shares of the company’s stock worth $654,000 after purchasing an additional 403 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. bought a new position in shares of Chord Energy in the 2nd quarter worth $19,532,000. Raymond James & Associates raised its position in shares of Chord Energy by 77.6% during the 2nd quarter. Raymond James & Associates now owns 140,582 shares of the company’s stock valued at $23,573,000 after buying an additional 61,442 shares in the last quarter. Hennion & Walsh Asset Management Inc. lifted its holdings in shares of Chord Energy by 98.1% during the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 3,292 shares of the company’s stock worth $552,000 after acquiring an additional 1,630 shares during the last quarter. Finally, Fifth Third Wealth Advisors LLC bought a new stake in shares of Chord Energy during the 2nd quarter worth $207,000. 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.