Citigroup Cuts Chord Energy (NASDAQ:CHRD) Price Target to $135.00

Chord Energy (NASDAQ:CHRD - Free Report) had its price target reduced by Citigroup from $160.00 to $135.00 in a research note published on Tuesday,Benzinga reports. They currently have a buy rating on the stock.

CHRD has been the topic of several other reports. Wolfe Research raised 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. Morgan Stanley assumed coverage on Chord Energy in a research note on Friday, January 10th. They issued an "equal weight" rating and a $158.00 price target on the stock. UBS Group dropped their price target on Chord Energy from $168.00 to $161.00 and set a "buy" rating on the stock in a research note on Monday, December 9th. Wells Fargo & Company dropped their price target on Chord Energy from $176.00 to $175.00 and set an "overweight" rating on the stock in a research note on Wednesday, January 15th. Finally, Royal Bank of Canada dropped their price target 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 research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $166.17.

Chord Energy Trading Down 2.7 %

Shares of Chord Energy stock traded down $2.79 during midday trading on Tuesday, reaching $101.34. The company had a trading volume of 1,864,413 shares, compared to its average volume of 850,050. The stock has a fifty day moving average price of $116.14 and a 200 day moving average price of $125.74. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.93 and a quick ratio of 0.89. The firm has a market cap of $6.19 billion, a PE ratio of 5.22, a P/E/G ratio of 5.83 and a beta of 0.98. Chord Energy has a fifty-two week low of $99.40 and a fifty-two week high of $190.23.

Chord Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 26th. Investors of record on Tuesday, March 11th will be issued a dividend of $1.30 per share. The ex-dividend date of this dividend is Tuesday, March 11th. This represents a $5.20 annualized dividend and a yield of 5.13%. This is an increase from Chord Energy's previous quarterly dividend of $1.25. Chord Energy's dividend payout ratio is 32.62%.

Insider Buying and Selling

In related news, CAO Shannon Browning Kinney sold 1,000 shares of the company'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 owns 19,488 shares in the company, valued at approximately $2,267,428.80. This represents a 4.88 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.70% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Chord Energy

Several institutional investors have recently bought and sold shares of the stock. Pacer Advisors Inc. grew 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 valued at $162,141,000 after purchasing an additional 1,230,985 shares during the period. Victory Capital Management Inc. grew its stake in Chord Energy by 41.3% in the 3rd quarter. Victory Capital Management Inc. now owns 2,245,435 shares of the company's stock valued at $292,423,000 after purchasing an additional 656,374 shares during the period. Point72 Asset Management L.P. grew 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 purchasing an additional 519,547 shares during the period. FMR LLC grew its stake in Chord Energy by 11.5% in the 4th quarter. FMR LLC now owns 3,814,384 shares of the company's stock valued at $445,978,000 after purchasing an additional 394,372 shares during the period. Finally, Encompass Capital Advisors LLC bought a new position in Chord Energy in the 4th quarter valued at $43,745,000. 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.