Chord Energy Co. (NASDAQ:CHRD – Get Free Report) has been assigned a consensus recommendation of “Moderate Buy” from the thirteen ratings firms that are covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, nine have given a buy rating and one has issued a strong buy rating on the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $157.62.
Several analysts have recently weighed in on the company. Wolfe Research upgraded Chord Energy from a “peer perform” rating to an “outperform” rating and set a $155.00 price objective for the company in a report on Friday, January 3rd. Mizuho lowered their price objective on shares of Chord Energy from $192.00 to $178.00 and set an “outperform” rating on the stock in a research note on Monday, December 16th. Royal Bank of Canada dropped their target price on shares of Chord Energy from $165.00 to $145.00 and set an “outperform” rating on the stock in a report on Friday. Piper Sandler reduced their target price on shares of Chord Energy from $193.00 to $184.00 and set an “overweight” rating for the company in a report on Thursday, March 6th. Finally, Wells Fargo & Company dropped their price target on Chord Energy from $175.00 to $166.00 and set an “overweight” rating on the stock in a report on Monday, March 24th.
Chord Energy Price Performance
Chord Energy Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 26th. Investors of record on Tuesday, March 11th were paid a $1.30 dividend. This is an increase from Chord Energy’s previous quarterly dividend of $1.25. This represents a $5.20 annualized dividend and a yield of 5.82%. The ex-dividend date of this dividend was Tuesday, March 11th. Chord Energy’s dividend payout ratio is currently 32.62%.
Institutional Trading of Chord Energy
Institutional investors have recently made changes to their positions in the stock. Tealwood Asset Management Inc. boosted its position in Chord Energy by 197.2% during the first quarter. Tealwood Asset Management Inc. now owns 9,477 shares of the company’s stock valued at $1,068,000 after purchasing an additional 6,288 shares during the last quarter. Arkfeld Wealth Strategies L.L.C. grew its stake in shares of Chord Energy by 15.0% in the 1st quarter. Arkfeld Wealth Strategies L.L.C. now owns 106,032 shares of the company’s stock valued at $11,952,000 after buying an additional 13,821 shares in the last quarter. Benson Investment Management Company Inc. bought a new position in Chord Energy during the first quarter valued at approximately $3,553,000. Parallel Advisors LLC increased its stake in shares of Chord Energy by 115.4% during the 1st quarter. Parallel Advisors LLC now owns 2,137 shares of the company’s stock worth $241,000 after purchasing an additional 1,145 shares during the last quarter. Finally, GAMMA Investing LLC raised its holdings in shares of Chord Energy by 31,910.5% during the 1st quarter. GAMMA Investing LLC now owns 81,947 shares of the company’s stock valued at $9,237,000 after purchasing an additional 81,691 shares in the last quarter. 97.76% of the stock is currently owned by institutional investors and hedge funds.
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.
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