Piper Sandler Issues Pessimistic Forecast for Chord Energy (NASDAQ:CHRD) Stock Price

Chord Energy (NASDAQ:CHRD - Free Report) had its price objective cut by Piper Sandler from $194.00 to $193.00 in a research report released on Wednesday morning,Benzinga reports. The brokerage currently has an overweight rating on the stock.

A number of other analysts have also recently weighed in on CHRD. Wells Fargo & Company dropped their price objective on shares of Chord Energy from $176.00 to $175.00 and set an "overweight" rating on the stock in a report on Wednesday. Wolfe Research upgraded shares of Chord Energy from a "peer perform" rating to an "outperform" rating and set a $155.00 price target on the stock in a research note on Friday, January 3rd. UBS Group cut their price target on Chord Energy from $168.00 to $161.00 and set a "buy" rating on the stock in a report on Monday, December 9th. Siebert Williams Shank upgraded Chord Energy to a "strong-buy" rating in a research report on Tuesday, October 15th. Finally, Royal Bank of Canada cut their target price on Chord Energy from $185.00 to $180.00 and set an "outperform" rating on the stock in a research note on Wednesday, November 20th. Three analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $173.08.

Chord Energy Stock Performance

CHRD stock traded up $1.08 during midday trading on Wednesday, reaching $127.78. The company had a trading volume of 638,525 shares, compared to its average volume of 651,180. The firm has a market capitalization of $7.81 billion, a PE ratio of 6.58, a P/E/G ratio of 4.79 and a beta of 0.99. The stock has a 50 day moving average price of $122.60 and a 200 day moving average price of $138.36. Chord Energy has a fifty-two week low of $109.59 and a fifty-two week high of $190.23. 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 (NASDAQ:CHRD - Get Free Report) last released its quarterly earnings data on Wednesday, November 6th. The company reported $3.40 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $3.63 by ($0.23). Chord Energy had a net margin of 19.74% and a return on equity of 12.88%. The company had revenue of $1.12 billion for the quarter, compared to analyst estimates of $1.26 billion. During the same quarter in the prior year, the firm earned $5.04 EPS. The company's revenue for the quarter was up 33.4% compared to the same quarter last year. Analysts anticipate that Chord Energy will post 16.5 earnings per share for the current year.

Chord Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Wednesday, November 27th were given a $1.25 dividend. This represents a $5.00 annualized dividend and a yield of 3.91%. The ex-dividend date was Wednesday, November 27th. Chord Energy's dividend payout ratio (DPR) is presently 25.75%.

Insider Transactions at Chord Energy

In other news, CAO Shannon Browning Kinney sold 1,000 shares of the firm's stock in a transaction on Monday, December 16th. The stock was sold at an average price of $116.35, for a total transaction of $116,350.00. Following the completion of the sale, the chief accounting officer now directly owns 19,488 shares of the company's stock, valued at $2,267,428.80. This trade represents a 4.88 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 0.70% of the company's stock.

Institutional Trading of Chord Energy

A number of hedge funds have recently bought and sold shares of CHRD. Pacer Advisors Inc. boosted its stake in Chord Energy by 8,762.1% in the 3rd quarter. Pacer Advisors Inc. now owns 1,245,034 shares of the company's stock worth $162,141,000 after purchasing an additional 1,230,985 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of Chord Energy by 72.0% in the second quarter. Dimensional Fund Advisors LP now owns 1,771,780 shares of the company's stock worth $297,090,000 after buying an additional 741,705 shares during the period. Victory Capital Management Inc. grew its holdings in shares of Chord Energy by 41.3% during the third quarter. Victory Capital Management Inc. now owns 2,245,435 shares of the company's stock valued at $292,423,000 after buying an additional 656,374 shares in the last quarter. Point72 Asset Management L.P. increased its stake in Chord Energy by 143.8% in 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 during the period. Finally, Millennium Management LLC raised its holdings in shares of Chord Energy by 226.5% during the 2nd quarter. Millennium Management LLC now owns 696,488 shares of the company's stock valued at $116,787,000 after purchasing an additional 483,144 shares in the last quarter. 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.