Chord Energy (NASDAQ:CHRD) Price Target Raised to $231.00

Chord Energy (NASDAQ:CHRD) had its target price hoisted by Piper Sandler from $230.00 to $231.00 in a research report sent to investors on Tuesday, Benzinga reports. The brokerage currently has an overweight rating on the stock.

Several other brokerages have also issued reports on CHRD. Stifel Nicolaus raised their price objective on Chord Energy from $178.00 to $211.00 and gave the stock a buy rating in a report on Tuesday, February 27th. Royal Bank of Canada raised their price objective on Chord Energy from $180.00 to $200.00 and gave the stock an outperform rating in a report on Monday, April 29th. 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 note on Friday, April 5th. Finally, Mizuho raised their price target on Chord Energy from $195.00 to $214.00 and gave the stock a buy rating in a report on Monday, May 13th. One research analyst has rated the stock with a sell rating, one has given a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and a consensus price target of $195.50.

Chord Energy Stock Performance

NASDAQ:CHRD opened at $180.59 on Tuesday. The business’s fifty day moving average price is $177.99 and its 200 day moving average price is $166.73. The firm has a market capitalization of $7.53 billion, a PE ratio of 8.47 and a beta of 1.07. Chord Energy has a 12 month low of $140.02 and a 12 month high of $190.23. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.14 and a quick ratio of 1.07.

Chord Energy (NASDAQ:CHRD) last issued its quarterly earnings data on Tuesday, May 7th. The company reported $5.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.75 by $0.35. The company had revenue of $1.09 billion for the quarter, compared to analyst estimates of $771.87 million. Chord Energy had a return on equity of 16.57% and a net margin of 22.67%. The business’s quarterly revenue was up 24.8% compared to the same quarter last year. During the same quarter last year, the company posted $4.50 earnings per share. On average, sell-side analysts anticipate that Chord Energy will post 22.53 earnings per share for the current fiscal year.

Chord Energy Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 5th. Shareholders of record on Wednesday, May 22nd will be issued a $2.94 dividend. This represents a $11.76 dividend on an annualized basis and a yield of 6.51%. The ex-dividend date of this dividend is Tuesday, May 21st. Chord Energy’s dividend payout ratio is presently 23.46%.

Institutional Investors Weigh In On Chord Energy

A number of institutional investors have recently added to or reduced their stakes in CHRD. FMR LLC boosted its holdings in Chord Energy by 12.9% in the 3rd quarter. FMR LLC now owns 3,185,243 shares of the company’s stock valued at $516,232,000 after purchasing an additional 364,673 shares in the last quarter. American Century Companies Inc. boosted its stake in shares of Chord Energy by 158.5% during the 3rd quarter. American Century Companies Inc. now owns 483,447 shares of the company’s stock worth $78,352,000 after acquiring an additional 296,443 shares in the last quarter. Boston Partners boosted its stake in shares of Chord Energy by 50.8% during the 4th quarter. Boston Partners now owns 630,977 shares of the company’s stock worth $104,815,000 after acquiring an additional 212,463 shares in the last quarter. AQR Capital Management LLC boosted its stake in shares of Chord Energy by 119.3% during the 3rd quarter. AQR Capital Management LLC now owns 368,557 shares of the company’s stock worth $59,732,000 after acquiring an additional 200,502 shares in the last quarter. Finally, Jennison Associates LLC boosted its stake in shares of Chord Energy by 40.5% during the 1st quarter. Jennison Associates LLC now owns 524,712 shares of the company’s stock worth $93,525,000 after acquiring an additional 151,218 shares in the last quarter. Hedge funds and other institutional investors own 97.76% of the company’s stock.

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.