Wells Fargo & Company Has Lowered Expectations for Chord Energy (NASDAQ:CHRD) Stock Price

Chord Energy (NASDAQ:CHRD - Free Report) had its target price reduced by Wells Fargo & Company from $176.00 to $175.00 in a research report released on Wednesday morning,Benzinga reports. They currently have an overweight rating on the stock.

Several other research firms also recently issued reports on CHRD. Truist Financial boosted their price target on Chord Energy from $185.00 to $186.00 and gave the company a "buy" rating in a research note on Monday. Siebert Williams Shank upgraded shares of Chord Energy to a "strong-buy" rating in a research note on Tuesday, October 15th. Wolfe Research upgraded shares of Chord Energy from a "peer perform" rating to an "outperform" rating and set a $155.00 price objective for the company in a research note on Friday, January 3rd. Morgan Stanley began coverage on shares of Chord Energy in a research report on Friday, January 10th. They set an "equal weight" rating and a $158.00 target price on the stock. Finally, Mizuho dropped their price target 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. Three research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, Chord Energy currently has an average rating of "Moderate Buy" and a consensus target price of $173.08.

Chord Energy Stock Performance

Shares of CHRD traded up $1.08 during trading hours on Wednesday, hitting $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 cap of $7.81 billion, a price-to-earnings ratio of 6.58, a PEG ratio of 4.79 and a beta of 0.99. The company has a quick ratio of 0.89, a current ratio of 0.93 and a debt-to-equity ratio of 0.10. The business has a fifty day moving average of $122.51 and a 200-day moving average of $138.29. Chord Energy has a 12 month low of $109.59 and a 12 month high of $190.23.

Chord Energy (NASDAQ:CHRD - Get Free Report) last released its quarterly earnings results on Wednesday, November 6th. The company reported $3.40 earnings per share for the quarter, missing the consensus estimate 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 during the quarter, compared to the consensus estimate of $1.26 billion. During the same period in the prior year, the company earned $5.04 earnings per share. The firm's revenue was up 33.4% compared to the same quarter last year. Equities analysts anticipate that Chord Energy will post 16.5 EPS for the current fiscal year.

Chord Energy Dividend Announcement

The firm also recently announced 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 dividend on an annualized basis and a yield of 3.91%. The ex-dividend date was Wednesday, November 27th. Chord Energy's dividend payout ratio is presently 25.75%.

Insider Activity

In related 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 sale, the chief accounting officer now 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 hyperlink. 0.70% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Chord Energy

Large investors have recently bought and sold shares of the company. Hexagon Capital Partners LLC grew its holdings in shares of Chord Energy by 462.9% during the third quarter. Hexagon Capital Partners LLC now owns 197 shares of the company's stock worth $26,000 after purchasing an additional 162 shares during the last quarter. Stone House Investment Management LLC acquired a new stake in Chord Energy during the 3rd quarter worth approximately $26,000. UMB Bank n.a. grew its holdings in Chord Energy by 77.7% during the 3rd quarter. UMB Bank n.a. now owns 231 shares of the company's stock worth $30,000 after acquiring an additional 101 shares during the last quarter. Benjamin F. Edwards & Company Inc. increased its position in Chord Energy by 125.9% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 244 shares of the company's stock valued at $41,000 after acquiring an additional 136 shares during the period. Finally, Brooklyn Investment Group bought a new position in shares of Chord Energy during the fourth quarter valued at $29,000. 97.76% of the stock is currently owned by 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.