Chord Energy (NASDAQ:CHRD) Price Target Cut to $158.00 by Analysts at Wells Fargo & Company

Chord Energy (NASDAQ:CHRD - Free Report) had its target price trimmed by Wells Fargo & Company from $166.00 to $158.00 in a research note issued to investors on Tuesday morning,Benzinga reports. The brokerage currently has an overweight rating on the stock.

Several other brokerages also recently commented on CHRD. Piper Sandler reduced their target price on shares of Chord Energy from $193.00 to $184.00 and set an "overweight" rating on the stock in a research note on Thursday, March 6th. Citigroup dropped their target price on shares of Chord Energy from $135.00 to $120.00 and set a "buy" rating for the company in a research report on Monday, April 7th. Williams Trading set a $155.00 price target on Chord Energy in a research report on Wednesday, March 5th. Truist Financial upped their price objective on Chord Energy from $185.00 to $186.00 and gave the company a "buy" rating in a report on Monday, January 13th. Finally, Morgan Stanley set a $139.00 target price on Chord Energy and gave the stock a "cautious" rating in a research report on Wednesday, March 26th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $157.00.

Chord Energy Stock Performance

Shares of NASDAQ:CHRD traded up $3.59 during midday trading on Tuesday, hitting $94.43. The company's stock had a trading volume of 767,619 shares, compared to its average volume of 970,162. The stock has a market capitalization of $5.62 billion, a price-to-earnings ratio of 4.86, a PEG ratio of 5.83 and a beta of 0.96. Chord Energy has a fifty-two week low of $79.83 and a fifty-two week high of $188.02. The stock's 50 day simple moving average is $104.52 and its 200 day simple moving average is $117.02. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.89 and a current ratio of 0.93.

Chord Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 26th. Shareholders of record on Tuesday, March 11th were issued a dividend of $1.30 per share. This is an increase from Chord Energy's previous quarterly dividend of $1.25. The ex-dividend date was Tuesday, March 11th. This represents a $5.20 annualized dividend and a yield of 5.51%. Chord Energy's dividend payout ratio is presently 32.62%.

Institutional Trading of Chord Energy

Several institutional investors and hedge funds have recently made changes to their positions in CHRD. HighTower Advisors LLC grew its position in Chord Energy by 58.7% during the third quarter. HighTower Advisors LLC now owns 6,821 shares of the company's stock valued at $899,000 after buying an additional 2,522 shares during the period. Quantinno Capital Management LP purchased a new stake in shares of Chord Energy in the third quarter worth about $201,000. MML Investors Services LLC lifted its holdings in shares of Chord Energy by 7.5% in the third quarter. MML Investors Services LLC now owns 11,733 shares of the company's stock worth $1,528,000 after buying an additional 821 shares in the last quarter. Barclays PLC boosted its position in shares of Chord Energy by 3.7% in the third quarter. Barclays PLC now owns 64,711 shares of the company's stock valued at $8,427,000 after acquiring an additional 2,318 shares during the period. Finally, Geode Capital Management LLC grew its stake in Chord Energy by 3.0% during the third quarter. Geode Capital Management LLC now owns 1,162,442 shares of the company's stock valued at $151,077,000 after acquiring an additional 34,156 shares in the last quarter. Hedge funds and other institutional investors own 97.76% of the company's stock.

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.