Wells Fargo & Company Issues Pessimistic Forecast for Chord Energy (NASDAQ:CHRD) Stock Price

Chord Energy (NASDAQ:CHRD - Free Report) had its target price decreased by Wells Fargo & Company from $175.00 to $166.00 in a report released on Monday,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the stock.

Other equities analysts have also recently issued reports about the company. Morgan Stanley initiated coverage on Chord Energy in a research note on Friday, January 10th. They set an "equal weight" rating and a $158.00 price objective on the stock. Williams Trading set a $155.00 price target on shares of Chord Energy in a research report on Wednesday, March 5th. Bank of America reaffirmed a "neutral" rating and set a $138.00 price objective (down previously from $208.00) on shares of Chord Energy in a research report on Monday, January 13th. Truist Financial raised their target price on shares of Chord Energy from $185.00 to $186.00 and gave the stock a "buy" rating in a report on Monday, January 13th. Finally, Wolfe Research raised Chord Energy from a "peer perform" rating to an "outperform" rating and set a $155.00 target price for the company in a report on Friday, January 3rd. One analyst has rated the stock with a sell rating, three have issued a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $163.92.

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Chord Energy Stock Down 0.2 %

NASDAQ:CHRD traded down $0.18 during mid-day trading on Monday, reaching $112.60. The stock had a trading volume of 785,689 shares, compared to its average volume of 923,428. The stock's 50 day simple moving average is $112.66 and its two-hundred day simple moving average is $121.74. Chord Energy has a 1-year low of $99.40 and a 1-year high of $190.23. The company has a market capitalization of $6.71 billion, a price-to-earnings ratio of 5.80, a price-to-earnings-growth ratio of 5.83 and a beta of 0.98. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.93 and a quick ratio of 0.89.

Chord Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 26th. Investors of record on Tuesday, March 11th will be issued a $1.30 dividend. The ex-dividend date is Tuesday, March 11th. This represents a $5.20 annualized dividend and a yield of 4.62%. This is an increase from Chord Energy's previous quarterly dividend of $1.25. Chord Energy's dividend payout ratio is presently 32.62%.

Hedge Funds Weigh In On Chord Energy

Several large investors have recently bought and sold shares of the stock. Altshuler Shaham Ltd bought a new position in shares of Chord Energy in the fourth quarter valued at approximately $25,000. Stone House Investment Management LLC bought a new position in Chord Energy during the 3rd quarter valued at $26,000. Brooklyn Investment Group acquired a new position in shares of Chord Energy during the 4th quarter valued at $29,000. Twin Tree Management LP bought a new stake in shares of Chord Energy in the 4th quarter worth $33,000. Finally, Larson Financial Group LLC lifted its holdings in shares of Chord Energy by 238.3% in the fourth quarter. Larson Financial Group LLC now owns 318 shares of the company's stock valued at $37,000 after buying an additional 224 shares during the period. Institutional investors and hedge funds 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.