Analysts Set Chord Energy Co. (NASDAQ:CHRD) PT at $164.62

Chord Energy Co. (NASDAQ:CHRD - Get Free Report) has been given a consensus recommendation of "Moderate Buy" by the thirteen ratings firms that are currently covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell rating, three have issued a hold rating, eight have assigned a buy rating and one has issued a strong buy rating on the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $164.62.

Several brokerages have recently weighed in on CHRD. Mizuho reduced their price target on Chord Energy from $192.00 to $178.00 and set an "outperform" rating for the company in a report on Monday, December 16th. UBS Group dropped their price objective on Chord Energy from $168.00 to $161.00 and set a "buy" rating on the stock in a research report on Monday, December 9th. Piper Sandler dropped their price objective on Chord Energy from $193.00 to $184.00 and set an "overweight" rating on the stock in a research report on Thursday, March 6th. Morgan Stanley assumed coverage on Chord Energy in a research report on Friday, January 10th. They set an "equal weight" rating and a $158.00 price objective on the stock. Finally, Wells Fargo & Company dropped their price objective on Chord Energy from $176.00 to $175.00 and set an "overweight" rating on the stock in a research report on Wednesday, January 15th.

Chord Energy Stock Down 1.0 %

Shares of NASDAQ CHRD traded down $1.08 during mid-day trading on Wednesday, hitting $109.71. 3,167,903 shares of the stock traded hands, compared to its average volume of 920,208. The stock has a fifty day moving average price of $112.92 and a 200-day moving average price of $122.16. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.89 and a current ratio of 0.93. The company has a market cap of $6.54 billion, a price-to-earnings ratio of 5.65, a PEG ratio of 5.83 and a beta of 0.98. Chord Energy has a 52 week low of $99.40 and a 52 week high of $190.23.

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Chord Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 26th. Stockholders of record on Tuesday, March 11th will be given a dividend of $1.30 per share. This is a boost from Chord Energy's previous quarterly dividend of $1.25. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.74%. The ex-dividend date of this dividend is Tuesday, March 11th. Chord Energy's payout ratio is presently 32.62%.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in CHRD. Pacer Advisors Inc. lifted its position in shares of Chord Energy by 8,762.1% during the 3rd quarter. Pacer Advisors Inc. now owns 1,245,034 shares of the company's stock valued at $162,141,000 after buying an additional 1,230,985 shares in the last quarter. Victory Capital Management Inc. lifted its position in shares of Chord Energy by 27.6% during the 4th quarter. Victory Capital Management Inc. now owns 2,864,456 shares of the company's stock valued at $334,912,000 after buying an additional 619,021 shares in the last quarter. Point72 Asset Management L.P. lifted its position in shares of Chord Energy by 143.8% during the 3rd quarter. Point72 Asset Management L.P. now owns 880,787 shares of the company's stock valued at $114,705,000 after buying an additional 519,547 shares in the last quarter. FMR LLC raised its stake in Chord Energy by 11.5% during the 4th quarter. FMR LLC now owns 3,814,384 shares of the company's stock valued at $445,978,000 after purchasing an additional 394,372 shares during the period. Finally, Encompass Capital Advisors LLC bought a new stake in Chord Energy during the 4th quarter valued at approximately $43,745,000. 97.76% of the stock is 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.