Bank of America Issues Pessimistic Forecast for Chord Energy (NASDAQ:CHRD) Stock Price

Chord Energy (NASDAQ:CHRD) had its price objective lowered by Bank of America from $138.00 to $125.00 in a report published on Tuesday,Benzinga reports. The firm currently has a neutral rating on the stock.

CHRD has been the subject of several other reports. Williams Trading set a $155.00 price target on Chord Energy in a research note on Wednesday, March 5th. Wolfe Research upgraded shares of Chord Energy from a “peer perform” rating to an “outperform” rating and set a $155.00 target price for the company in a research report on Friday, January 3rd. Mizuho reduced their price target on shares of Chord Energy from $192.00 to $178.00 and set an “outperform” rating on the stock in a report on Monday, December 16th. Wells Fargo & Company dropped their price objective on shares of Chord Energy from $175.00 to $166.00 and set an “overweight” rating for the company in a report on Monday, March 24th. Finally, Morgan Stanley set a $139.00 price objective on Chord Energy and gave the company a “cautious” rating in a research report on Wednesday, March 26th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $161.46.

Chord Energy Price Performance

Shares of Chord Energy stock opened at $112.63 on Tuesday. 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 has a 52 week low of $99.40 and a 52 week high of $190.23. The stock’s 50-day simple moving average is $111.25 and its 200-day simple moving average is $121.02. The company has a market capitalization of $6.70 billion, a price-to-earnings ratio of 5.80, a PEG ratio of 5.83 and a beta of 0.98.

Chord Energy Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 26th. Investors of record on Tuesday, March 11th were given a $1.30 dividend. The ex-dividend date of this dividend was Tuesday, March 11th. This is an increase from Chord Energy’s previous quarterly dividend of $1.25. This represents a $5.20 dividend on an annualized basis and a yield of 4.62%. Chord Energy’s dividend payout ratio (DPR) is currently 32.62%.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Altshuler Shaham Ltd purchased a new position in shares of Chord Energy during the 4th quarter worth about $25,000. Brooklyn Investment Group purchased a new stake in Chord Energy in the 4th quarter worth about $29,000. Twin Tree Management LP bought a new stake in Chord Energy in the fourth quarter worth about $33,000. Larson Financial Group LLC boosted its position in shares of Chord Energy by 238.3% during the fourth quarter. Larson Financial Group LLC now owns 318 shares of the company’s stock valued at $37,000 after buying an additional 224 shares during the period. Finally, R Squared Ltd bought a new stake in shares of Chord Energy during the 4th quarter worth approximately $51,000. Institutional investors 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.