Royal Bank of Canada Boosts Chord Energy (NASDAQ:CHRD) Price Target to $200.00

Chord Energy (NASDAQ:CHRD) had its target price increased by Royal Bank of Canada from $180.00 to $200.00 in a research report released on Monday morning, Benzinga reports. The brokerage currently has an outperform rating on the stock.

A number of other analysts have also recently issued reports on the company. Piper Sandler lifted their price objective on Chord Energy from $219.00 to $230.00 and gave the company an overweight rating in a research report on Friday, April 19th. Bank of America lowered Chord Energy from a buy rating to an underperform rating and reduced their price target for the company from $177.00 to $165.00 in a report on Friday, January 5th. Mizuho boosted their price target on Chord Energy from $189.00 to $195.00 and gave the company a buy rating in a research note on Thursday, March 14th. Stifel Nicolaus raised their price objective on shares of Chord Energy from $178.00 to $211.00 and gave the company a buy rating in a research report on Tuesday, February 27th. Finally, Truist Financial decreased their target price on shares of Chord Energy from $229.00 to $224.00 and set a buy rating for the company in a research report on Friday, April 5th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and an average target price of $193.50.

Chord Energy Trading Down 1.6 %

NASDAQ:CHRD opened at $174.17 on Monday. The stock’s 50-day moving average is $173.78 and its two-hundred day moving average is $165.76. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.22 and a quick ratio of 1.16. The stock has a market cap of $7.24 billion, a PE ratio of 7.40 and a beta of 1.06. Chord Energy has a fifty-two week low of $133.34 and a fifty-two week high of $190.23.

Chord Energy (NASDAQ:CHRD) last released its quarterly earnings data on Wednesday, February 21st. The company reported $5.25 earnings per share for the quarter, beating the consensus estimate of $5.04 by $0.21. The firm had revenue of $964.69 million for the quarter, compared to analyst estimates of $891.67 million. Chord Energy had a net margin of 26.27% and a return on equity of 16.35%. As a group, equities research analysts forecast that Chord Energy will post 22.03 earnings per share for the current fiscal year.

Chord Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 19th. Stockholders of record on Tuesday, March 5th were paid a $3.25 dividend. This represents a $13.00 dividend on an annualized basis and a dividend yield of 7.46%. This is a boost from Chord Energy’s previous quarterly dividend of $1.25. The ex-dividend date was Monday, March 4th. Chord Energy’s payout ratio is presently 21.25%.

Insider Activity at Chord Energy

In other Chord Energy news, CFO Michael H. Lou sold 3,000 shares of the business’s stock in a transaction on Friday, February 16th. The shares were sold at an average price of $165.00, for a total transaction of $495,000.00. Following the completion of the transaction, the chief financial officer now owns 128,209 shares of the company’s stock, valued at approximately $21,154,485. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.70% of the stock is currently owned by company insiders.

Institutional Trading of Chord Energy

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Rise Advisors LLC acquired a new position in shares of Chord Energy during the first quarter worth approximately $31,000. Contravisory Investment Management Inc. boosted its holdings in Chord Energy by 48.9% in the 4th quarter. Contravisory Investment Management Inc. now owns 259 shares of the company’s stock valued at $43,000 after purchasing an additional 85 shares during the period. SRS Capital Advisors Inc. grew its position in Chord Energy by 306.9% in the 4th quarter. SRS Capital Advisors Inc. now owns 293 shares of the company’s stock worth $49,000 after purchasing an additional 221 shares during the last quarter. Lindbrook Capital LLC increased its holdings in shares of Chord Energy by 67.6% during the 4th quarter. Lindbrook Capital LLC now owns 305 shares of the company’s stock worth $51,000 after purchasing an additional 123 shares during the period. Finally, Viking Fund Management LLC raised its position in shares of Chord Energy by 40.0% during the fourth quarter. Viking Fund Management LLC now owns 350 shares of the company’s stock valued at $58,000 after buying an additional 100 shares during the last quarter. 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.