Chord Energy (NASDAQ:CHRD) Price Target Lowered to $145.00 at Royal Bank of Canada

Chord Energy (NASDAQ:CHRD - Free Report) had its price target reduced by Royal Bank of Canada from $165.00 to $145.00 in a research note issued to investors on Friday,Benzinga reports. They currently have an outperform rating on the stock.

CHRD has been the topic of several other reports. Bank of America reduced their target price on Chord Energy from $138.00 to $125.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 1st. Wolfe Research raised Chord Energy from a "peer perform" rating to an "outperform" rating and set a $155.00 price objective on the stock in a research report on Friday, January 3rd. Mizuho lowered their target price on Chord Energy from $192.00 to $178.00 and set an "outperform" rating for the company in a research note on Monday, December 16th. Wells Fargo & Company reduced their price target on Chord Energy from $175.00 to $166.00 and set an "overweight" rating on the stock in a research note on Monday, March 24th. Finally, Truist Financial increased their price target on shares of Chord Energy from $185.00 to $186.00 and gave the stock a "buy" rating in a research note on Monday, January 13th. One analyst has rated the stock with a sell rating, two have given a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $157.00.

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Chord Energy Trading Down 0.1 %

Shares of Chord Energy stock traded down $0.12 during trading on Friday, reaching $88.40. 509,546 shares of the stock were exchanged, compared to its average volume of 965,997. Chord Energy has a 1 year low of $79.83 and a 1 year high of $188.41. The firm has a market cap of $5.26 billion, a price-to-earnings ratio of 4.55, a price-to-earnings-growth ratio of 5.83 and a beta of 0.96. 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 stock's fifty day moving average is $105.66 and its 200 day moving average is $117.65.

Chord Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 26th. Shareholders of record on Tuesday, March 11th were issued a dividend of $1.30 per share. This is a positive change from Chord Energy's previous quarterly dividend of $1.25. This represents a $5.20 dividend on an annualized basis and a yield of 5.88%. The ex-dividend date of this dividend was Tuesday, March 11th. Chord Energy's dividend payout ratio (DPR) is 32.62%.

Institutional Investors Weigh In On Chord Energy

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CHRD. Delta Capital Management LLC boosted its stake in shares of Chord Energy by 4.3% during the fourth quarter. Delta Capital Management LLC now owns 2,200 shares of the company's stock valued at $257,000 after purchasing an additional 90 shares during the period. Gables Capital Management Inc. lifted its holdings in Chord Energy by 6.9% during the 4th quarter. Gables Capital Management Inc. now owns 1,550 shares of the company's stock valued at $181,000 after buying an additional 100 shares in the last quarter. Envestnet Portfolio Solutions Inc. boosted its position in Chord Energy by 2.9% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 3,710 shares of the company's stock valued at $434,000 after buying an additional 106 shares during the period. Exchange Traded Concepts LLC grew its stake in Chord Energy by 1.8% in the 4th quarter. Exchange Traded Concepts LLC now owns 6,145 shares of the company's stock worth $718,000 after acquiring an additional 110 shares in the last quarter. Finally, MGO One Seven LLC increased its position in shares of Chord Energy by 6.7% during the fourth quarter. MGO One Seven LLC now owns 1,775 shares of the company's stock worth $208,000 after acquiring an additional 111 shares during the period. 97.76% of the stock is currently 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.