Bank of America Cuts Chord Energy (NASDAQ:CHRD) Price Target to $125.00

Chord Energy (NASDAQ:CHRD) had its price target decreased by Bank of America from $138.00 to $125.00 in a research report released on Tuesday morning,Benzinga reports. Bank of America currently has a neutral rating on the stock.

A number of other brokerages have also recently weighed in on CHRD. Truist Financial lifted their price target on Chord Energy from $185.00 to $186.00 and gave the stock a “buy” rating in a research note on Monday, January 13th. UBS Group reduced their price objective on Chord Energy from $168.00 to $161.00 and set a “buy” rating for the company in a research note on Monday, December 9th. Piper Sandler reduced their price target on shares of Chord Energy from $193.00 to $184.00 and set an “overweight” rating for the company in a research report on Thursday, March 6th. Mizuho decreased their price target on shares of Chord Energy from $192.00 to $178.00 and set an “outperform” rating for the company in a report on Monday, December 16th. Finally, Citigroup lowered shares of Chord Energy to a “reduce” rating in a research note on Wednesday, March 5th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Chord Energy currently has a consensus rating of “Moderate Buy” and an average target price of $161.46.

Chord Energy Trading Down 12.4 %

Chord Energy stock opened at $99.48 on Tuesday. Chord Energy has a 1 year low of $98.71 and a 1 year high of $190.23. The firm’s 50 day moving average price is $110.43 and its two-hundred day moving average price is $120.66. The firm has a market cap of $5.92 billion, a price-to-earnings ratio of 5.12, a price-to-earnings-growth ratio of 5.83 and a beta of 0.98. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.89 and a current ratio of 0.93.

Chord Energy Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 26th. Shareholders of record on Tuesday, March 11th were paid a dividend of $1.30 per share. The ex-dividend date of this dividend was Tuesday, March 11th. This represents a $5.20 dividend on an annualized basis and a yield of 5.23%. This is an increase from Chord Energy’s previous quarterly dividend of $1.25. Chord Energy’s payout ratio is currently 32.62%.

Institutional Trading of Chord Energy

Several institutional investors have recently made changes to their positions in the business. Altshuler Shaham Ltd bought a new stake in shares of Chord Energy in the 4th quarter valued at approximately $25,000. Brooklyn Investment Group acquired a new stake in shares of Chord Energy during the 4th quarter worth about $29,000. Twin Tree Management LP bought a new position in Chord Energy during the 4th quarter valued at about $33,000. Larson Financial Group LLC grew its stake in Chord Energy by 238.3% during the fourth quarter. Larson Financial Group LLC now owns 318 shares of the company’s stock worth $37,000 after buying an additional 224 shares during the last quarter. Finally, R Squared Ltd acquired a new stake in shares of Chord Energy during the fourth quarter worth approximately $51,000. 97.76% of the stock is currently owned by institutional investors and hedge funds.

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.