Chord Energy (NASDAQ:CHRD) Price Target Raised to $211.00

Chord Energy (NASDAQ:CHRD) had its target price raised by Piper Sandler from $206.00 to $211.00 in a report issued on Tuesday morning, Benzinga reports. The brokerage currently has an overweight rating on the stock.

Several other equities analysts have also commented on the stock. Wolfe Research began coverage on shares of Chord Energy in a report on Thursday, July 18th. They set a “peer perform” rating on the stock. Jefferies Financial Group initiated coverage on Chord Energy in a research note on Thursday, September 5th. They set a “hold” rating and a $160.00 price objective on the stock. BMO Capital Markets lowered their target price on Chord Energy from $205.00 to $175.00 and set an “outperform” rating for the company in a research note on Friday, October 4th. Royal Bank of Canada restated an “outperform” rating and set a $200.00 target price on shares of Chord Energy in a report on Friday, September 20th. Finally, Wells Fargo & Company lowered their price objective on Chord Energy from $200.00 to $185.00 and set an “overweight” rating for the company in a research report on Tuesday, October 1st. Two research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Chord Energy has an average rating of “Moderate Buy” and a consensus price target of $190.18.

Chord Energy Stock Up 1.7 %

Shares of NASDAQ:CHRD opened at $130.58 on Tuesday. The firm has a fifty day moving average of $139.44 and a 200 day moving average of $162.43. Chord Energy has a 52-week low of $126.38 and a 52-week high of $190.23. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.91 and a current ratio of 0.96. The firm has a market capitalization of $5.44 billion, a PE ratio of 6.13, a price-to-earnings-growth ratio of 4.92 and a beta of 0.97.

Chord Energy (NASDAQ:CHRD) last announced its quarterly earnings data on Wednesday, August 7th. The company reported $4.69 EPS for the quarter, missing the consensus estimate of $5.00 by ($0.31). The firm had revenue of $902.70 million for the quarter, compared to the consensus estimate of $982.43 million. Chord Energy had a net margin of 20.83% and a return on equity of 15.06%. Chord Energy’s revenue for the quarter was up 29.8% compared to the same quarter last year. During the same quarter last year, the company posted $3.65 earnings per share. As a group, research analysts anticipate that Chord Energy will post 17.93 EPS for the current fiscal year.

Chord Energy Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, September 5th. Investors of record on Wednesday, August 21st were given a dividend of $1.25 per share. The ex-dividend date was Wednesday, August 21st. This represents a $5.00 annualized dividend and a dividend yield of 3.83%. Chord Energy’s dividend payout ratio is presently 23.46%.

Insider Buying and Selling

In other Chord Energy news, Director Samantha Holroyd bought 500 shares of the company’s stock in a transaction dated Friday, August 23rd. The shares were purchased at an average price of $149.51 per share, for a total transaction of $74,755.00. Following the acquisition, the director now owns 14,417 shares in the company, valued at approximately $2,155,485.67. This represents a 0.00 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. 0.70% of the stock is owned by insiders.

Hedge Funds Weigh In On Chord Energy

Several large investors have recently made changes to their positions in the business. Kraematon Investment Advisors Inc. bought a new position in Chord Energy during the 2nd quarter valued at approximately $4,426,000. Sei Investments Co. raised its position in shares of Chord Energy by 24.0% in the 1st quarter. Sei Investments Co. now owns 144,166 shares of the company’s stock worth $25,696,000 after purchasing an additional 27,903 shares during the last quarter. Bank of Montreal Can boosted its stake in Chord Energy by 956.5% in the 2nd quarter. Bank of Montreal Can now owns 58,359 shares of the company’s stock worth $9,873,000 after purchasing an additional 52,835 shares in the last quarter. Quantbot Technologies LP purchased a new stake in Chord Energy during the 1st quarter valued at about $884,000. Finally, BOKF NA increased its stake in Chord Energy by 1,678.3% during the 1st quarter. BOKF NA now owns 15,471 shares of the company’s stock valued at $2,751,000 after purchasing an additional 14,601 shares in the last quarter. 97.76% of the stock is currently owned by hedge funds and other institutional investors.

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.