Chord Energy (NASDAQ:CHRD) Price Target Lowered to $185.00 at Wells Fargo & Company

Chord Energy (NASDAQ:CHRD) had its price objective reduced by Wells Fargo & Company from $200.00 to $185.00 in a report released on Tuesday morning, Benzinga reports. They currently have an overweight rating on the stock.

Other equities analysts also recently issued research reports about the stock. Wolfe Research initiated coverage on shares of Chord Energy in a research note on Thursday, July 18th. They issued a peer perform rating for the company. Truist Financial lowered their target price on shares of Chord Energy from $223.00 to $185.00 and set a buy rating on the stock in a report on Monday. Royal Bank of Canada reaffirmed an outperform rating and issued a $200.00 price target on shares of Chord Energy in a report on Friday, September 20th. BMO Capital Markets initiated coverage on Chord Energy in a research note on Monday, June 3rd. They set an outperform rating and a $230.00 price objective on the stock. Finally, Citigroup cut their target price on Chord Energy from $195.00 to $180.00 and set a buy rating for the company in a research note on Monday, August 12th. Two investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Chord Energy currently has a consensus rating of Moderate Buy and an average price target of $197.90.

Chord Energy Trading Up 0.3 %

Shares of CHRD stock opened at $130.59 on Tuesday. Chord Energy has a 12-month low of $126.96 and a 12-month high of $190.23. The company has a quick ratio of 0.91, a current ratio of 0.96 and a debt-to-equity ratio of 0.11. The company has a 50 day moving average of $147.58 and a 200-day moving average of $165.92. The firm has a market cap of $5.44 billion, a P/E ratio of 6.17, a PEG ratio of 4.92 and a beta of 0.99.

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 the consensus estimate of $5.00 by ($0.31). Chord Energy had a net margin of 20.83% and a return on equity of 15.06%. The firm had revenue of $902.70 million during the quarter, compared to the consensus estimate of $982.43 million. During the same quarter in the previous year, the firm earned $3.65 earnings per share. The business’s quarterly revenue was up 29.8% compared to the same quarter last year. Sell-side analysts anticipate that Chord Energy will post 18.48 earnings per share for the current year.

Chord Energy Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 5th. Investors of record on Wednesday, August 21st were paid a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a yield of 3.83%. The ex-dividend date was Wednesday, August 21st. Chord Energy’s dividend payout ratio is currently 23.46%.

Insiders Place Their Bets

In related news, Director Samantha Holroyd acquired 500 shares of the company’s stock in a transaction dated Friday, August 23rd. The stock was bought at an average cost of $149.51 per share, with a total value of $74,755.00. Following the acquisition, the director now owns 14,417 shares of the company’s stock, valued at approximately $2,155,485.67. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.70% of the company’s stock.

Hedge Funds Weigh In On Chord Energy

Large investors have recently modified their holdings of the company. Victory Capital Management Inc. grew its position in Chord Energy by 397.5% during the second quarter. Victory Capital Management Inc. now owns 1,589,061 shares of the company’s stock valued at $266,454,000 after acquiring an additional 1,269,658 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Chord Energy by 72.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,771,780 shares of the company’s stock valued at $297,090,000 after purchasing an additional 741,705 shares during the last quarter. Boston Partners raised its position in Chord Energy by 107.0% in the 1st quarter. Boston Partners now owns 1,305,942 shares of the company’s stock worth $232,813,000 after purchasing an additional 674,965 shares during the period. Millennium Management LLC lifted its stake in Chord Energy by 226.5% in the second quarter. Millennium Management LLC now owns 696,488 shares of the company’s stock worth $116,787,000 after purchasing an additional 483,144 shares during the last quarter. Finally, KGH Ltd boosted its position in Chord Energy by 872.0% during the second quarter. KGH Ltd now owns 485,998 shares of the company’s stock valued at $81,492,000 after buying an additional 435,998 shares during the period. 97.76% of the stock is owned by hedge funds and other institutional investors.

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.