Chord Energy (NASDAQ:CHRD) Price Target Cut to $180.00 by Analysts at Wells Fargo & Company

Chord Energy (NASDAQ:CHRD) had its target price reduced by Wells Fargo & Company from $185.00 to $180.00 in a research report released on Wednesday, Benzinga reports. They currently have an overweight rating on the stock.

A number of other research analysts also recently commented on the company. Bank of America upped their price objective on Chord Energy from $201.00 to $208.00 and gave the stock a “buy” rating in a research note on Wednesday, August 21st. Piper Sandler upped their price target on shares of Chord Energy from $206.00 to $211.00 and gave the stock an “overweight” rating in a research report on Tuesday. Royal Bank of Canada reiterated an “outperform” rating and issued a $200.00 price objective on shares of Chord Energy in a research report on Friday, September 20th. Truist Financial decreased their target price on shares of Chord Energy from $223.00 to $185.00 and set a “buy” rating for the company in a research report on Monday, September 30th. Finally, Jefferies Financial Group began coverage on shares of Chord Energy in a research note on Thursday, September 5th. They set a “hold” rating and a $160.00 price objective on the stock. Two research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $190.18.

Chord Energy Trading Up 1.5 %

Chord Energy stock opened at $128.35 on Wednesday. Chord Energy has a 1 year low of $126.38 and a 1 year high of $190.23. The firm’s 50-day moving average is $140.35 and its 200-day moving average is $162.89. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.91 and a current ratio of 0.96. The company has a market cap of $5.35 billion, a P/E ratio of 6.02, a PEG ratio of 4.92 and a beta of 0.97.

Chord Energy (NASDAQ:CHRD) last issued its earnings results on Wednesday, August 7th. The company reported $4.69 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $5.00 by ($0.31). The business had revenue of $902.70 million during the quarter, compared to the consensus estimate of $982.43 million. Chord Energy had a return on equity of 15.06% and a net margin of 20.83%. The business’s revenue was up 29.8% on a year-over-year basis. During the same period in the prior year, the business earned $3.65 EPS. On average, equities analysts expect that Chord Energy will post 17.93 earnings per share for the current year.

Chord Energy Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 5th. Shareholders of record on Wednesday, August 21st were issued a dividend of $1.25 per share. The ex-dividend date of this dividend was Wednesday, August 21st. This represents a $5.00 annualized dividend and a yield of 3.90%. Chord Energy’s payout ratio is presently 23.46%.

Insider Activity at Chord Energy

In other Chord Energy news, Director Samantha Holroyd purchased 500 shares of the company’s stock in a transaction that occurred on Friday, August 23rd. The shares were purchased at an average cost of $149.51 per share, with a total value of $74,755.00. Following the completion of the transaction, the director now owns 14,417 shares of the company’s stock, valued at approximately $2,155,485.67. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.70% of the stock is owned by insiders.

Hedge Funds Weigh In On Chord Energy

Several institutional investors and hedge funds have recently modified their holdings of CHRD. Redmont Wealth Advisors LLC purchased a new stake in shares of Chord Energy during the 3rd quarter worth about $467,000. Arkfeld Wealth Strategies L.L.C. bought a new position in shares of Chord Energy in the third quarter worth about $12,152,000. UMB Bank n.a. lifted its holdings in shares of Chord Energy by 77.7% during the third quarter. UMB Bank n.a. now owns 231 shares of the company’s stock worth $30,000 after buying an additional 101 shares during the last quarter. Hexagon Capital Partners LLC raised its stake in Chord Energy by 462.9% during the 3rd quarter. Hexagon Capital Partners LLC now owns 197 shares of the company’s stock valued at $26,000 after purchasing an additional 162 shares during the last quarter. Finally, Insight Wealth Strategies LLC raised its position in shares of Chord Energy by 5.0% during the third quarter. Insight Wealth Strategies LLC now owns 12,347 shares of the company’s stock valued at $1,608,000 after buying an additional 583 shares during the last quarter. 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.