Citigroup Has Lowered Expectations for Chord Energy (NASDAQ:CHRD) Stock Price

Chord Energy (NASDAQ:CHRD - Free Report) had its target price trimmed by Citigroup from $135.00 to $120.00 in a research report sent to investors on Monday morning,Benzinga reports. The firm currently has a buy rating on the stock.

Several other equities research analysts have also recently issued reports on CHRD. Mizuho decreased their price objective on shares of Chord Energy from $192.00 to $178.00 and set an "outperform" rating for the company in a research report on Monday, December 16th. UBS Group decreased their price target on Chord Energy from $168.00 to $161.00 and set a "buy" rating for the company in a report on Monday, December 9th. Wolfe Research upgraded Chord Energy from a "peer perform" rating to an "outperform" rating and set a $155.00 price objective on the stock in a report on Friday, January 3rd. Williams Trading set a $155.00 target price on Chord Energy in a research note on Wednesday, March 5th. Finally, Truist Financial increased their price target 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. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $157.62.

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Chord Energy Stock Up 4.0 %

Chord Energy stock traded up $3.45 during trading on Monday, reaching $89.34. The stock had a trading volume of 1,154,332 shares, compared to its average volume of 968,493. 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 $79.83 and a 52-week high of $190.23. The stock has a market cap of $5.31 billion, a PE ratio of 4.60, a P/E/G ratio of 5.83 and a beta of 0.96. The business has a 50 day moving average price of $106.10 and a 200 day moving average price of $118.01.

Chord Energy Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 26th. Investors of record on Tuesday, March 11th were paid a dividend of $1.30 per share. The ex-dividend date of this dividend was Tuesday, March 11th. This represents a $5.20 dividend on an annualized basis and a yield of 5.82%. This is a boost from Chord Energy's previous quarterly dividend of $1.25. Chord Energy's dividend payout ratio is currently 32.62%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of CHRD. Benjamin Edwards Inc. boosted its stake in shares of Chord Energy by 61.3% during the third quarter. Benjamin Edwards Inc. now owns 3,117 shares of the company's stock worth $407,000 after buying an additional 1,184 shares during the period. HighTower Advisors LLC lifted its position in Chord Energy by 58.7% during the 3rd quarter. HighTower Advisors LLC now owns 6,821 shares of the company's stock worth $899,000 after acquiring an additional 2,522 shares during the period. Investment Management Corp of Ontario grew its stake in shares of Chord Energy by 42.9% in the 3rd quarter. Investment Management Corp of Ontario now owns 2,000 shares of the company's stock valued at $260,000 after purchasing an additional 600 shares during the last quarter. Quantinno Capital Management LP acquired a new position in shares of Chord Energy in the third quarter valued at approximately $201,000. Finally, Stifel Financial Corp raised its stake in shares of Chord Energy by 28.9% during the third quarter. Stifel Financial Corp now owns 105,992 shares of the company's stock worth $13,802,000 after purchasing an additional 23,794 shares during the last quarter. 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.