Chord Energy (NASDAQ:CHRD) Price Target Lowered to $125.00 at Bank of America

Chord Energy (NASDAQ:CHRD - Free Report) had its price target decreased by Bank of America from $138.00 to $125.00 in a research report report published on Tuesday morning,Benzinga reports. Bank of America currently has a neutral rating on the stock.

Several other equities analysts have also weighed in on the company. Williams Trading set a $155.00 target price on Chord Energy in a research note on Wednesday, March 5th. Mizuho reduced 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. Truist Financial upped their target price on shares of Chord Energy from $185.00 to $186.00 and gave the company a "buy" rating in a research note on Monday, January 13th. Citigroup cut shares of Chord Energy to a "reduce" rating in a research report on Wednesday, March 5th. Finally, UBS Group lowered their price objective on shares of Chord Energy from $168.00 to $161.00 and set a "buy" rating for the company in a research report on Monday, December 9th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $161.46.

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Chord Energy Trading Down 11.7 %

CHRD stock traded down $11.66 during midday trading on Tuesday, reaching $87.82. The company's stock had a trading volume of 2,141,111 shares, compared to its average volume of 948,586. The business's 50-day simple moving average is $109.83 and its 200-day simple moving average is $120.34. 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 52 week low of $86.70 and a 52 week high of $190.23. The stock has a market cap of $5.22 billion, a PE ratio of 4.52, a price-to-earnings-growth ratio of 5.83 and a beta of 0.98.

Chord Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 26th. Stockholders of record on Tuesday, March 11th were given a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a dividend yield of 5.92%. The ex-dividend date was Tuesday, March 11th. This is an increase from Chord Energy's previous quarterly dividend of $1.25. Chord Energy's dividend payout ratio (DPR) is 32.62%.

Institutional Investors Weigh In On Chord Energy

A number of institutional investors and hedge funds have recently modified their holdings of the company. Townsquare Capital LLC lifted its position in shares of Chord Energy by 55.7% in the third quarter. Townsquare Capital LLC now owns 2,199 shares of the company's stock valued at $286,000 after buying an additional 787 shares during the last quarter. Benjamin Edwards Inc. lifted its holdings in Chord Energy by 61.3% during the 3rd quarter. Benjamin Edwards Inc. now owns 3,117 shares of the company's stock valued at $407,000 after purchasing an additional 1,184 shares during the last quarter. Ascent Group LLC bought a new position in Chord Energy during the third quarter worth $2,028,000. Centiva Capital LP acquired a new position in shares of Chord Energy in the third quarter valued at $2,557,000. Finally, HighTower Advisors LLC raised its position in shares of Chord Energy by 58.7% in the third quarter. HighTower Advisors LLC now owns 6,821 shares of the company's stock valued at $899,000 after purchasing an additional 2,522 shares during the period. 97.76% of the stock is owned by 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.