Wells Fargo & Company Cuts Chord Energy (NASDAQ:CHRD) Price Target to $166.00

Chord Energy (NASDAQ:CHRD) had its price target decreased by Wells Fargo & Company from $175.00 to $166.00 in a research report report published on Monday morning,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the stock.

Several other equities analysts have also weighed in on the company. Bank of America reissued a “neutral” rating and issued a $138.00 target price (down previously from $208.00) on shares of Chord Energy in a research note on Monday, January 13th. Truist Financial increased their price target on shares of Chord Energy from $185.00 to $186.00 and gave the company a “buy” rating in a research report on Monday, January 13th. UBS Group reduced their price objective on shares of Chord Energy from $168.00 to $161.00 and set a “buy” rating on the stock in a research note on Monday, December 9th. Morgan Stanley assumed coverage on shares of Chord Energy in a research note on Friday, January 10th. They issued an “equal weight” rating and a $158.00 target price for the company. Finally, Mizuho reduced their price target on shares of Chord Energy from $192.00 to $178.00 and set an “outperform” rating on the stock in a research report on Monday, December 16th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $162.46.

Chord Energy Trading Up 1.0 %

Shares of NASDAQ CHRD opened at $113.68 on Monday. The company’s 50 day simple moving average is $112.38 and its 200 day simple moving average is $121.58. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.93 and a quick ratio of 0.89. The firm has a market capitalization of $6.78 billion, a P/E ratio of 5.85, a P/E/G ratio of 5.83 and a beta of 0.98. Chord Energy has a fifty-two week low of $99.40 and a fifty-two week high of $190.23.

Chord Energy Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 26th. Investors of record on Tuesday, March 11th were issued a dividend of $1.30 per share. This is an increase from Chord Energy’s previous quarterly dividend of $1.25. The ex-dividend date of this dividend was Tuesday, March 11th. This represents a $5.20 annualized dividend and a dividend yield of 4.57%. Chord Energy’s payout ratio is presently 32.62%.

Hedge Funds Weigh In On Chord Energy

A number of large investors have recently made changes to their positions in the company. Stone House Investment Management LLC acquired a new stake in shares of Chord Energy during the third quarter worth $26,000. Altshuler Shaham Ltd acquired a new position in shares of Chord Energy during the 4th quarter worth approximately $25,000. Brooklyn Investment Group bought a new stake in shares of Chord Energy in the fourth quarter valued at approximately $29,000. Twin Tree Management LP acquired a new stake in Chord Energy during the fourth quarter worth approximately $33,000. Finally, Larson Financial Group LLC lifted its position in shares of Chord Energy by 238.3% during the 4th quarter. Larson Financial Group LLC now owns 318 shares of the company’s stock valued at $37,000 after acquiring an additional 224 shares during the period. Institutional investors own 97.76% of the company’s stock.

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.