Chord Energy (NASDAQ:CHRD) Price Target Raised to $211.00 at Piper Sandler

Chord Energy (NASDAQ:CHRD) had its target price raised by Piper Sandler from $206.00 to $211.00 in a research report report published on Tuesday, Benzinga reports. Piper Sandler currently has an overweight rating on the stock.

A number of other analysts have also recently commented on the company. Bank of America lifted their target price on Chord Energy from $201.00 to $208.00 and gave the stock a buy rating in a research report on Wednesday, August 21st. Citigroup reduced their price objective 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. Wells Fargo & Company lowered their target price on shares of Chord Energy from $200.00 to $185.00 and set an overweight rating on the stock in a research report on Tuesday, October 1st. Wolfe Research initiated coverage on shares of Chord Energy in a research report on Thursday, July 18th. They issued a peer perform rating for the company. Finally, BMO Capital Markets lowered their price objective on shares of Chord Energy from $205.00 to $175.00 and set an outperform rating on the stock in a research report on Friday, October 4th. Two investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Chord Energy currently has an average rating of Moderate Buy and a consensus target price of $192.90.

Chord Energy Price Performance

Shares of CHRD opened at $126.50 on Tuesday. The firm has a market capitalization of $5.27 billion, a price-to-earnings ratio of 5.94, a PEG ratio of 4.92 and a beta of 0.97. The firm’s fifty day simple moving average is $140.88 and its 200-day simple moving average is $163.26. Chord Energy has a twelve month low of $126.38 and a twelve month high of $190.23. The company has a current ratio of 0.96, a quick ratio of 0.91 and a debt-to-equity ratio of 0.11.

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 company had revenue of $902.70 million during the quarter, compared to analyst estimates of $982.43 million. During the same quarter in the previous year, the company posted $3.65 EPS. The company’s quarterly revenue was up 29.8% on a year-over-year basis. Equities analysts forecast that Chord Energy will post 17.93 EPS for the current fiscal year.

Chord Energy Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 5th. Shareholders of record on Wednesday, August 21st were issued a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a yield of 3.95%. The ex-dividend date of this dividend was Wednesday, August 21st. Chord Energy’s dividend payout ratio (DPR) is currently 23.46%.

Insiders Place Their Bets

In related news, Director Samantha Holroyd acquired 500 shares of Chord Energy stock in a transaction that occurred on Friday, August 23rd. The stock was purchased at an average price of $149.51 per share, for a total transaction of $74,755.00. Following the completion of the purchase, the director now directly owns 14,417 shares of the company’s stock, valued at approximately $2,155,485.67. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.70% of the company’s stock.

Institutional Investors Weigh In On Chord Energy

A number of hedge funds and other institutional investors have recently modified their holdings of CHRD. Rise Advisors LLC acquired a new stake in shares of Chord Energy in the 1st quarter worth approximately $31,000. Tealwood Asset Management Inc. purchased a new position in shares of Chord Energy in the first quarter valued at $1,140,000. DGS Capital Management LLC acquired a new position in shares of Chord Energy during the 1st quarter worth $239,000. Hennion & Walsh Asset Management Inc. purchased a new stake in shares of Chord Energy in the 1st quarter worth about $296,000. Finally, AlphaMark Advisors LLC increased its holdings in Chord Energy by 16.8% during the 1st quarter. AlphaMark Advisors LLC now owns 1,832 shares of the company’s stock valued at $327,000 after acquiring an additional 264 shares in the last quarter. 97.76% of the stock is currently owned by institutional investors and hedge funds.

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.