Chord Energy (NASDAQ:CHRD) Given New $183.00 Price Target at Piper Sandler

Chord Energy (NASDAQ:CHRD) had its price target cut by Piper Sandler from $184.00 to $183.00 in a research report released on Tuesday,Benzinga reports. They currently have an overweight rating on the stock.

A number of other equities analysts have also weighed in on the company. Williams Trading set a $155.00 target price on Chord Energy in a research report on Wednesday, March 5th. Truist Financial lifted their target price on shares of Chord Energy from $185.00 to $186.00 and gave the stock a “buy” rating in a research report on Monday, January 13th. Citigroup dropped their price target on Chord Energy from $135.00 to $120.00 and set a “buy” rating on the stock in a research note on Monday, April 7th. Bank of America reduced their price objective on Chord Energy from $138.00 to $125.00 and set a “neutral” rating for the company in a research report on Tuesday, April 1st. Finally, Morgan Stanley set a $139.00 target price on Chord Energy and gave the company a “cautious” rating in a report on Wednesday, March 26th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $156.92.

Chord Energy Stock Up 1.6 %

Chord Energy stock opened at $94.29 on Tuesday. The firm has a market cap of $5.61 billion, a price-to-earnings ratio of 4.86, a PEG ratio of 5.83 and a beta of 0.96. The company has a current ratio of 0.93, a quick ratio of 0.89 and a debt-to-equity ratio of 0.10. Chord Energy has a 12 month low of $79.83 and a 12 month high of $188.02. The stock has a fifty day simple moving average of $103.78 and a two-hundred day simple moving average of $116.24.

Chord Energy Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 26th. Shareholders of record on Tuesday, March 11th were paid a dividend of $1.30 per share. This is a boost from Chord Energy’s previous quarterly dividend of $1.25. The ex-dividend date was Tuesday, March 11th. This represents a $5.20 dividend on an annualized basis and a yield of 5.51%. Chord Energy’s dividend payout ratio (DPR) is presently 32.62%.

Hedge Funds Weigh In On Chord Energy

Hedge funds have recently modified their holdings of the company. Barclays PLC lifted its stake in shares of Chord Energy by 3.7% during the 3rd quarter. Barclays PLC now owns 64,711 shares of the company’s stock valued at $8,427,000 after buying an additional 2,318 shares in the last quarter. Sanctuary Advisors LLC raised its holdings in Chord Energy by 21.0% during the third quarter. Sanctuary Advisors LLC now owns 5,141 shares of the company’s stock valued at $691,000 after acquiring an additional 892 shares during the period. Synovus Financial Corp lifted its position in shares of Chord Energy by 14.9% in the third quarter. Synovus Financial Corp now owns 5,869 shares of the company’s stock valued at $764,000 after acquiring an additional 761 shares in the last quarter. Franklin Resources Inc. boosted its stake in shares of Chord Energy by 72.5% in the third quarter. Franklin Resources Inc. now owns 27,434 shares of the company’s stock worth $3,631,000 after acquiring an additional 11,527 shares during the period. Finally, Kings Path Partners LLC bought a new stake in Chord Energy during the 4th quarter valued at approximately $117,000. 97.76% of the stock is currently owned by institutional investors.

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.