Chord Energy (NASDAQ:CHRD) Price Target Lowered to $125.00 at Bank of America

Chord Energy (NASDAQ:CHRD) had its price objective cut by Bank of America from $138.00 to $125.00 in a research report report published on Tuesday morning,Benzinga reports. They currently have a neutral rating on the stock.

Several other brokerages also recently issued reports on CHRD. Citigroup downgraded shares of Chord Energy to a “reduce” rating in a research note on Wednesday, March 5th. Williams Trading set a $155.00 price objective on Chord Energy in a research report on Wednesday, March 5th. Wells Fargo & Company reduced their target price on Chord Energy from $175.00 to $166.00 and set an “overweight” rating for the company in a report on Monday, March 24th. Truist Financial upped their price target on Chord Energy from $185.00 to $186.00 and gave the company a “buy” rating in a report on Monday, January 13th. Finally, UBS Group dropped their price objective on Chord Energy from $168.00 to $161.00 and set a “buy” rating on the stock in a research report on Monday, December 9th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Chord Energy presently has an average rating of “Moderate Buy” and an average price target of $161.46.

Chord Energy Price Performance

Shares of NASDAQ:CHRD opened at $112.63 on Tuesday. The company has a market capitalization of $6.70 billion, a PE ratio of 5.80, a PEG ratio of 5.83 and a beta of 0.98. The business has a fifty day moving average price of $111.25 and a 200-day moving average price of $121.02. Chord Energy has a 1-year low of $99.40 and a 1-year high of $190.23. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.93 and a quick ratio of 0.89.

Chord Energy Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 26th. Shareholders of record on Tuesday, March 11th were issued a dividend of $1.30 per share. This is a boost 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%. The ex-dividend date of this dividend was Tuesday, March 11th. Chord Energy’s dividend payout ratio is currently 32.62%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of CHRD. Natixis Advisors LLC bought a new position in Chord Energy in the 4th quarter worth $1,191,000. Merit Financial Group LLC purchased a new stake in Chord Energy in the fourth quarter worth about $553,000. Geode Capital Management LLC raised its stake in shares of Chord Energy by 3.0% in the third quarter. Geode Capital Management LLC now owns 1,162,442 shares of the company’s stock worth $151,077,000 after buying an additional 34,156 shares during the period. Kingsview Wealth Management LLC lifted its position in shares of Chord Energy by 55.3% during the 4th quarter. Kingsview Wealth Management LLC now owns 21,744 shares of the company’s stock valued at $2,542,000 after buying an additional 7,743 shares in the last quarter. Finally, Arkfeld Wealth Strategies L.L.C. grew its stake in shares of Chord Energy by 3.5% during the 4th quarter. Arkfeld Wealth Strategies L.L.C. now owns 92,211 shares of the company’s stock valued at $11,596,000 after acquiring an additional 3,151 shares during the period. 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.