Chord Energy (NASDAQ:CHRD) Price Target Raised to $231.00

Chord Energy (NASDAQ:CHRDFree Report) had its price target increased by Piper Sandler from $230.00 to $231.00 in a report published on Tuesday, Benzinga reports. The firm currently has an overweight rating on the stock.

Other research analysts also recently issued reports about the company. Truist Financial cut their target price on Chord Energy from $229.00 to $224.00 and set a buy rating on the stock in a report on Friday, April 5th. Mizuho lifted their price objective on Chord Energy from $195.00 to $214.00 and gave the stock a buy rating in a research note on Monday. Royal Bank of Canada increased their target price on shares of Chord Energy from $180.00 to $200.00 and gave the company an outperform rating in a research report on Monday, April 29th. Finally, Stifel Nicolaus upped their price objective on shares of Chord Energy from $178.00 to $211.00 and gave the company a buy rating in a research note on Tuesday, February 27th. One analyst has rated the stock with a sell rating, one has given a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of Moderate Buy and an average price target of $195.50.

View Our Latest Research Report on Chord Energy

Chord Energy Price Performance

Shares of CHRD opened at $182.37 on Tuesday. The business has a 50-day simple moving average of $176.90 and a two-hundred day simple moving average of $166.42. Chord Energy has a 12-month low of $137.78 and a 12-month high of $190.23. The stock has a market cap of $7.60 billion, a PE ratio of 8.56 and a beta of 1.07. The company has a quick ratio of 1.07, a current ratio of 1.14 and a debt-to-equity ratio of 0.08.

Chord Energy (NASDAQ:CHRDGet Free Report) last issued its quarterly earnings data on Tuesday, May 7th. The company reported $5.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.75 by $0.35. The business had revenue of $1.09 billion during the quarter, compared to analyst estimates of $771.87 million. Chord Energy had a net margin of 22.67% and a return on equity of 16.57%. The firm’s quarterly revenue was up 24.8% on a year-over-year basis. During the same quarter last year, the business earned $4.50 EPS. Analysts anticipate that Chord Energy will post 22.29 earnings per share for the current fiscal year.

Chord Energy Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 5th. Stockholders of record on Wednesday, May 22nd will be given a dividend of $2.94 per share. The ex-dividend date of this dividend is Tuesday, May 21st. This represents a $11.76 dividend on an annualized basis and a dividend yield of 6.45%. Chord Energy’s dividend payout ratio (DPR) is presently 23.46%.

Insider Activity

In other Chord Energy news, CFO Michael H. Lou sold 3,000 shares of the stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $165.00, for a total value of $495,000.00. Following the transaction, the chief financial officer now owns 128,209 shares in the company, valued at $21,154,485. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.70% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. Rise Advisors LLC acquired a new stake in shares of Chord Energy in the 1st quarter worth about $31,000. Contravisory Investment Management Inc. lifted its holdings in shares of Chord Energy by 48.9% in the fourth quarter. Contravisory Investment Management Inc. now owns 259 shares of the company’s stock valued at $43,000 after purchasing an additional 85 shares in the last quarter. SRS Capital Advisors Inc. boosted its position in shares of Chord Energy by 306.9% during the fourth quarter. SRS Capital Advisors Inc. now owns 293 shares of the company’s stock valued at $49,000 after buying an additional 221 shares during the last quarter. Lindbrook Capital LLC boosted its position in shares of Chord Energy by 67.6% during the fourth quarter. Lindbrook Capital LLC now owns 305 shares of the company’s stock valued at $51,000 after buying an additional 123 shares during the last quarter. Finally, Viking Fund Management LLC grew its holdings in Chord Energy by 40.0% during the fourth quarter. Viking Fund Management LLC now owns 350 shares of the company’s stock worth $58,000 after buying an additional 100 shares in the last quarter. 97.76% of the stock is currently owned by institutional investors and hedge funds.

Chord Energy Company Profile

(Get Free Report)

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.

Featured Articles

Analyst Recommendations for Chord Energy (NASDAQ:CHRD)

Receive News & Ratings for Chord Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Chord Energy and related companies with MarketBeat.com's FREE daily email newsletter.