Chord Energy (NASDAQ:CHRD) Price Target Lowered to $194.00 at Piper Sandler

Chord Energy (NASDAQ:CHRD - Free Report) had its price target reduced by Piper Sandler from $212.00 to $194.00 in a research report released on Tuesday,Benzinga reports. They currently have an overweight rating on the stock.

Several other analysts also recently commented on CHRD. Wells Fargo & Company increased their price objective on Chord Energy from $175.00 to $176.00 and gave the stock an "overweight" rating in a research note on Tuesday. Royal Bank of Canada decreased their price objective on shares of Chord Energy from $185.00 to $180.00 and set an "outperform" rating for the company in a research note on Wednesday, November 20th. UBS Group cut their price objective on Chord Energy from $168.00 to $161.00 and set a "buy" rating on the stock in a research report on Monday, December 9th. Jefferies Financial Group began coverage on Chord Energy in a research note on Thursday, September 5th. They set a "hold" rating and a $160.00 target price on the stock. Finally, Mizuho reduced 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. Two analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $182.55.

Chord Energy Stock Down 0.9 %

NASDAQ CHRD traded down $1.10 on Tuesday, hitting $115.09. 826,500 shares of the company were exchanged, compared to its average volume of 891,769. Chord Energy has a 12 month low of $113.58 and a 12 month high of $190.23. The company has a current ratio of 0.93, a quick ratio of 0.89 and a debt-to-equity ratio of 0.10. The company has a market cap of $7.04 billion, a PE ratio of 5.91, a PEG ratio of 4.79 and a beta of 0.96. The stock has a fifty day moving average of $127.45 and a 200-day moving average of $146.03.

Chord Energy (NASDAQ:CHRD - Get Free Report) last announced its quarterly earnings data on Wednesday, November 6th. The company reported $3.40 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 firm had revenue of $1.12 billion during the quarter, compared to analyst estimates of $1.26 billion. During the same period last year, the business posted $5.04 EPS. The company's revenue was up 33.4% on a year-over-year basis. As a group, analysts forecast that Chord Energy will post 16.5 earnings per share for the current year.

Chord Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Wednesday, November 27th were given a $1.25 dividend. The ex-dividend date of this dividend was Wednesday, November 27th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 4.34%. Chord Energy's dividend payout ratio (DPR) is currently 25.75%.

Insider Buying and Selling

In other Chord Energy news, CAO Shannon Browning Kinney sold 1,000 shares of the company's stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $121.27, for a total value of $121,270.00. Following the transaction, the chief accounting officer now directly owns 20,488 shares in the company, valued at $2,484,579.76. This represents a 4.65 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.70% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Chord Energy

A number of institutional investors have recently made changes to their positions in CHRD. Envestnet Portfolio Solutions Inc. lifted its stake in Chord Energy by 11.5% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 3,899 shares of the company's stock worth $654,000 after purchasing an additional 403 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. bought a new position in Chord Energy during the second quarter valued at approximately $19,532,000. Raymond James & Associates raised its stake in shares of Chord Energy by 77.6% during the second quarter. Raymond James & Associates now owns 140,582 shares of the company's stock worth $23,573,000 after acquiring an additional 61,442 shares in the last quarter. Hennion & Walsh Asset Management Inc. raised its stake in shares of Chord Energy by 98.1% during the second quarter. Hennion & Walsh Asset Management Inc. now owns 3,292 shares of the company's stock worth $552,000 after acquiring an additional 1,630 shares in the last quarter. Finally, Fifth Third Wealth Advisors LLC bought a new stake in shares of Chord Energy in the 2nd quarter worth approximately $207,000. 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.