Chord Energy (NASDAQ:CHRD) Price Target Cut to $161.00 by Analysts at UBS Group

Chord Energy (NASDAQ:CHRD - Free Report) had its price objective lowered by UBS Group from $168.00 to $161.00 in a research report report published on Monday,Benzinga reports. The brokerage currently has a buy rating on the stock.

A number of other equities analysts have also recently issued reports on the company. Wells Fargo & Company cut their target price on Chord Energy from $185.00 to $180.00 and set an "overweight" rating on the stock in a report on Wednesday, October 16th. Royal Bank of Canada lowered their price objective on shares of Chord Energy from $185.00 to $180.00 and set an "outperform" rating on the stock in a report on Wednesday, November 20th. Piper Sandler raised their price objective on shares of Chord Energy from $211.00 to $212.00 and gave the company an "overweight" rating in a research note on Monday, November 18th. Citigroup decreased their target price on shares of Chord Energy from $195.00 to $180.00 and set a "buy" rating for the company in a research report on Monday, August 12th. Finally, BMO Capital Markets dropped their price target on shares of Chord Energy from $205.00 to $175.00 and set an "outperform" rating on the stock in a research report on Friday, October 4th. Two research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Chord Energy presently has a consensus rating of "Moderate Buy" and an average target price of $187.82.

Chord Energy Stock Down 1.2 %

CHRD traded down $1.41 during midday trading on Monday, hitting $117.92. The company had a trading volume of 702,484 shares, compared to its average volume of 892,972. The stock's 50 day moving average price is $129.00 and its 200 day moving average price is $148.21. Chord Energy has a 52 week low of $115.96 and a 52 week high of $190.23. The company has a market capitalization of $7.21 billion, a price-to-earnings ratio of 6.07, a PEG ratio of 4.70 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.

Chord Energy (NASDAQ:CHRD - Get Free Report) last issued its earnings results on Wednesday, November 6th. The company reported $3.40 EPS for the quarter, missing analysts' consensus estimates of $3.63 by ($0.23). The firm had revenue of $1.12 billion during the quarter, compared to the consensus estimate of $1.26 billion. Chord Energy had a net margin of 19.74% and a return on equity of 12.88%. The business's quarterly revenue was up 33.4% on a year-over-year basis. During the same period in the previous year, the firm earned $5.04 earnings per share. On average, research analysts anticipate that Chord Energy will post 16.5 earnings per share for the current fiscal year.

Chord Energy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Wednesday, November 27th will be given a dividend of $1.25 per share. The ex-dividend date is Wednesday, November 27th. This represents a $5.00 annualized dividend and a dividend yield of 4.24%. Chord Energy's dividend payout ratio is currently 25.75%.

Insider Transactions at Chord Energy

In other news, CAO Shannon Browning Kinney sold 1,000 shares of Chord Energy stock in a transaction on Monday, December 9th. The stock was sold at an average price of $121.27, for a total transaction of $121,270.00. Following the sale, the chief accounting officer now directly owns 20,488 shares in the company, valued at $2,484,579.76. The trade was a 4.65 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.70% of the company's stock.

Hedge Funds Weigh In On Chord Energy

Several institutional investors have recently added to or reduced their stakes in CHRD. Hexagon Capital Partners LLC increased its position in Chord Energy by 462.9% in the third quarter. Hexagon Capital Partners LLC now owns 197 shares of the company's stock worth $26,000 after buying an additional 162 shares during the last quarter. Stone House Investment Management LLC bought a new position in shares of Chord Energy during the 3rd quarter worth $26,000. UMB Bank n.a. increased its holdings in Chord Energy by 77.7% in 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. Ashton Thomas Private Wealth LLC bought a new stake in Chord Energy in the 2nd quarter valued at about $40,000. Finally, Benjamin F. Edwards & Company Inc. lifted its holdings in Chord Energy by 125.9% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 244 shares of the company's stock valued at $41,000 after purchasing an additional 136 shares during the last quarter. Institutional investors own 97.76% of the company's stock.

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.