Chord Energy (NASDAQ:CHRD – Get Rating) had its price objective reduced by Stifel Nicolaus from $185.00 to $182.00 in a research report report published on Monday morning, The Fly reports.
A number of other analysts have also weighed in on the stock. Truist Financial reduced their price target on shares of Chord Energy from $252.00 to $246.00 in a research note on Monday, May 8th. Citigroup dropped their price target on shares of Chord Energy from $170.00 to $165.00 in a research note on Sunday. Royal Bank of Canada restated an outperform rating and set a $190.00 price target on shares of Chord Energy in a research note on Thursday, March 30th. Mizuho dropped their price target on shares of Chord Energy from $179.00 to $172.00 in a research report on Friday. Finally, Piper Sandler lowered their target price on Chord Energy from $213.00 to $204.00 in a report on Thursday, May 18th. One analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of Moderate Buy and an average target price of $187.38.
Chord Energy Price Performance
Shares of CHRD stock opened at $149.55 on Monday. The firm has a fifty day simple moving average of $137.75 and a 200-day simple moving average of $139.74. Chord Energy has a twelve month low of $93.35 and a twelve month high of $181.34. The company has a market capitalization of $6.21 billion, a PE ratio of 3.54, a price-to-earnings-growth ratio of 0.33 and a beta of 1.36. The company has a current ratio of 1.18, a quick ratio of 1.13 and a debt-to-equity ratio of 0.08.
Chord Energy (NASDAQ:CHRD – Get Rating) last issued its earnings results on Wednesday, February 22nd. The company reported $5.28 earnings per share for the quarter, missing the consensus estimate of $5.89 by ($0.61). Chord Energy had a return on equity of 23.51% and a net margin of 43.37%. The company had revenue of $1.02 billion during the quarter, compared to analyst estimates of $875.33 million. Equities research analysts anticipate that Chord Energy will post 22.33 earnings per share for the current fiscal year.
Chord Energy Cuts Dividend
The company also recently announced a None dividend, which will be paid on Tuesday, May 30th. Stockholders of record on Tuesday, May 16th will be issued a $3.22 dividend. This represents a dividend yield of 3.5%. The ex-dividend date is Monday, May 15th. Chord Energy’s payout ratio is 11.85%.
Insider Buying and Selling
In other news, Director Lynn A. Peterson sold 3,000 shares of the stock in a transaction that occurred on Monday, April 17th. The shares were sold at an average price of $144.94, for a total transaction of $434,820.00. Following the sale, the director now directly owns 238,098 shares of the company’s stock, valued at $34,509,924.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders have sold a total of 9,000 shares of company stock worth $1,282,590 in the last three months. Insiders own 0.52% of the company’s stock.
Institutional Trading of Chord Energy
Several institutional investors and hedge funds have recently made changes to their positions in CHRD. Russell Investments Group Ltd. bought a new position in Chord Energy during the fourth quarter worth about $13,387,000. Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in shares of Chord Energy in the fourth quarter valued at approximately $760,000. MGO One Seven LLC bought a new stake in Chord Energy during the fourth quarter worth about $345,000. Mackay Shields LLC acquired a new stake in shares of Chord Energy during the 4th quarter worth approximately $18,888,000. Finally, SummerHaven Investment Management LLC acquired a new position in shares of Chord Energy during the 4th quarter worth $1,017,000. Institutional investors own 93.47% of the company’s stock.
About Chord Energy
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Chord Energy Corporation operates as an independent exploration and production company. It acquires, exploits, develops, and explores for crude oil, natural gas, and natural gas liquids in the Williston Basin. The company was founded in 2007 and is headquartered in Houston, Texas.
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