Chord Energy (NASDAQ:CHRD) Price Target Lowered to $193.00 at Piper Sandler

Chord Energy (NASDAQ:CHRD) had its price objective cut by Piper Sandler from $194.00 to $193.00 in a report issued on Wednesday,Benzinga reports. They currently have an overweight rating on the stock.

Other equities analysts also recently issued reports about the stock. Wells Fargo & Company lowered their price objective on shares of Chord Energy from $176.00 to $175.00 and set an “overweight” rating for the company in a research note on Wednesday. UBS Group lowered their price objective on shares of Chord Energy from $168.00 to $161.00 and set a “buy” rating for the company in a research note on Monday, December 9th. Morgan Stanley began coverage on shares of Chord Energy in a research note on Friday, January 10th. They set an “equal weight” rating and a $158.00 price objective for the company. Mizuho lowered their price objective on shares of Chord Energy from $192.00 to $178.00 and set an “outperform” rating for the company in a research note on Monday, December 16th. Finally, Royal Bank of Canada lowered their price objective on shares of Chord Energy from $185.00 to $180.00 and set an “outperform” rating for the company in a research note on Wednesday, November 20th. Three analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $173.08.

Chord Energy Stock Performance

Chord Energy stock opened at $127.78 on Wednesday. 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 company has a market capitalization of $7.81 billion, a PE ratio of 6.58, a P/E/G ratio of 5.57 and a beta of 0.99. The firm has a fifty day simple moving average of $122.51 and a two-hundred day simple moving average of $138.29. Chord Energy has a twelve month low of $109.59 and a twelve month high of $190.23.

Chord Energy (NASDAQ:CHRD) last posted its quarterly earnings results on Wednesday, November 6th. The company reported $3.40 earnings per share for the quarter, missing the consensus estimate of $3.63 by ($0.23). The business had revenue of $1.12 billion during the quarter, compared to the consensus estimate of $1.26 billion. Chord Energy had a return on equity of 12.88% and a net margin of 19.74%. The business’s revenue for the quarter was up 33.4% on a year-over-year basis. During the same period in the prior year, the firm earned $5.04 earnings per share. Research analysts expect that Chord Energy will post 16.33 EPS for the current year.

Chord Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Wednesday, November 27th were issued a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a yield of 3.91%. The ex-dividend date of this dividend was Wednesday, November 27th. Chord Energy’s dividend payout ratio (DPR) is presently 25.75%.

Insiders Place Their Bets

In other Chord Energy news, CAO Shannon Browning Kinney sold 1,000 shares of the company’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $116.35, for a total value of $116,350.00. Following the sale, the chief accounting officer now owns 19,488 shares in the company, valued at approximately $2,267,428.80. This represents a 4.88 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.70% of the company’s stock.

Institutional Investors Weigh In On Chord Energy

Hedge funds and other institutional investors have recently bought and sold shares of the business. Hexagon Capital Partners LLC grew its holdings 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 purchasing an additional 162 shares during the period. Stone House Investment Management LLC purchased a new stake in shares of Chord Energy during the third quarter valued at approximately $26,000. Brooklyn Investment Group purchased a new stake in shares of Chord Energy during the fourth quarter valued at approximately $29,000. UMB Bank n.a. grew 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 valued at $30,000 after buying an additional 101 shares during the last quarter. Finally, Spartan Fund Management Inc. purchased a new stake in shares of Chord Energy during the third quarter valued at approximately $34,000. Hedge funds and other institutional investors 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.