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

Chord Energy (NASDAQ:CHRD) had its target price trimmed by Wells Fargo & Company from $175.00 to $166.00 in a research note released on Monday morning,Benzinga reports. The brokerage currently has an overweight rating on the stock.

CHRD has been the subject of a number of other reports. Mizuho reduced 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. Morgan Stanley started coverage on Chord Energy in a research report on Friday, January 10th. They set an “equal weight” rating and a $158.00 price target for the company. Piper Sandler lowered their price target on Chord Energy from $193.00 to $184.00 and set an “overweight” rating on the stock in a research report on Thursday, March 6th. Wolfe Research raised Chord Energy from a “peer perform” rating to an “outperform” rating and set a $155.00 price objective for the company in a report on Friday, January 3rd. Finally, Truist Financial raised their target price on shares of Chord Energy from $185.00 to $186.00 and gave the company a “buy” rating in a research note on Monday, January 13th. One equities research 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 stock. According to MarketBeat, Chord Energy has a consensus rating of “Moderate Buy” and an average price target of $163.92.

Chord Energy Stock Performance

Shares of CHRD stock opened at $112.78 on Monday. Chord Energy has a 12 month low of $99.40 and a 12 month high of $190.23. The company’s fifty day simple moving average is $112.66 and its 200-day simple moving average is $121.74. The firm has a market cap of $6.73 billion, a PE ratio of 5.81, a P/E/G ratio of 5.83 and a beta of 0.98. The company has a quick ratio of 0.89, a current ratio of 0.93 and a debt-to-equity ratio of 0.10.

Chord Energy Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 26th. Stockholders of record on Tuesday, March 11th will be paid a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.61%. The ex-dividend date of this dividend is Tuesday, March 11th. This is a boost from Chord Energy’s previous quarterly dividend of $1.25. Chord Energy’s dividend payout ratio (DPR) is currently 32.62%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of CHRD. Delta Capital Management LLC lifted its position in Chord Energy by 4.3% during the fourth quarter. Delta Capital Management LLC now owns 2,200 shares of the company’s stock worth $257,000 after acquiring an additional 90 shares during the last quarter. Commerce Bank lifted its holdings in Chord Energy by 4.3% during the 3rd quarter. Commerce Bank now owns 2,361 shares of the company’s stock worth $307,000 after purchasing an additional 98 shares during the last quarter. Gables Capital Management Inc. boosted its stake in Chord Energy by 6.9% in the 4th quarter. Gables Capital Management Inc. now owns 1,550 shares of the company’s stock valued at $181,000 after purchasing an additional 100 shares during the period. Envestnet Portfolio Solutions Inc. grew its holdings in Chord Energy by 2.9% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 3,710 shares of the company’s stock valued at $434,000 after buying an additional 106 shares in the last quarter. Finally, Exchange Traded Concepts LLC increased its position in Chord Energy by 1.8% during the 4th quarter. Exchange Traded Concepts LLC now owns 6,145 shares of the company’s stock worth $718,000 after buying an additional 110 shares during the period. Institutional investors and hedge funds own 97.76% of the company’s stock.

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.