Brokerages Set Chord Energy Co. (NASDAQ:CHRD) PT at $157.62

Shares of Chord Energy Co. (NASDAQ:CHRD - Get Free Report) have been assigned a consensus rating of "Moderate Buy" from the thirteen ratings firms that are currently covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, nine have issued 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 $157.00.

Several equities research analysts have commented on the stock. Bank of America dropped their price target on shares of Chord Energy from $138.00 to $125.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 1st. Citigroup cut their target price on Chord Energy from $135.00 to $120.00 and set a "buy" rating on the stock in a research note on Monday, April 7th. Morgan Stanley set a $139.00 price target on Chord Energy and gave the stock a "cautious" rating in a research note on Wednesday, March 26th. Williams Trading set a $155.00 target price on shares of Chord Energy in a research report on Wednesday, March 5th. Finally, 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 note on Thursday, March 6th.

Chord Energy Stock Performance

CHRD stock traded down $0.12 during mid-day trading on Friday, reaching $88.40. The company had a trading volume of 509,546 shares, compared to its average volume of 965,998. The stock's 50-day simple moving average is $105.66 and its two-hundred day simple moving average is $117.65. The stock has a market capitalization of $5.26 billion, a P/E ratio of 4.55, a P/E/G ratio of 5.83 and a beta of 0.96. The company has a quick ratio of 0.89, a current ratio of 0.93 and a debt-to-equity ratio of 0.10. Chord Energy has a one year low of $79.83 and a one year high of $188.41.

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Chord Energy Increases Dividend

The firm also recently announced 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. This represents a $5.20 annualized dividend and a yield of 5.88%. The ex-dividend date was Tuesday, March 11th. This is a boost from Chord Energy's previous quarterly dividend of $1.25. Chord Energy's payout ratio is 32.62%.

Institutional Trading of Chord Energy

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

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.