Chord Energy (NASDAQ:CHRD) Price Target Raised to $113.00

Chord Energy (NASDAQ:CHRD) had its price objective increased by Wells Fargo & Company from $108.00 to $113.00 in a report released on Friday,Benzinga reports. They currently have an overweight rating on the stock.

CHRD has been the subject of a number of other research reports. Royal Bank Of Canada reissued an “outperform” rating and issued a $130.00 target price on shares of Chord Energy in a report on Monday, October 6th. Piper Sandler decreased their target price on Chord Energy from $169.00 to $167.00 and set an “overweight” rating for the company in a research report on Friday, October 3rd. Bank of America raised their price target on shares of Chord Energy from $112.00 to $123.00 and gave the company a “buy” rating in a report on Wednesday, September 17th. Roth Capital initiated coverage on shares of Chord Energy in a report on Monday, October 13th. They set a “buy” rating and a $130.00 price objective for the company. Finally, Wall Street Zen downgraded shares of Chord Energy from a “hold” rating to a “sell” rating in a research report on Saturday, November 1st. Ten investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, Chord Energy presently has a consensus rating of “Moderate Buy” and an average price target of $138.23.

Chord Energy Stock Performance

Shares of Chord Energy stock opened at $93.11 on Friday. Chord Energy has a 1 year low of $79.83 and a 1 year high of $134.54. The firm’s 50-day moving average is $95.75 and its 200 day moving average is $99.36. The stock has a market cap of $5.30 billion, a price-to-earnings ratio of 35.81 and a beta of 0.92. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.35 and a quick ratio of 1.28.

Chord Energy (NASDAQ:CHRD) last issued its earnings results on Tuesday, November 4th. The company reported $2.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.24 by $0.11. The firm had revenue of $1.31 billion for the quarter, compared to the consensus estimate of $1.02 billion. Chord Energy had a net margin of 3.31% and a return on equity of 8.27%. The business’s revenue was up 17.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.40 earnings per share. Sell-side analysts anticipate that Chord Energy will post 15.59 EPS for the current fiscal year.

Chord Energy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 5th. Stockholders of record on Wednesday, November 19th will be given a $1.30 dividend. The ex-dividend date is Wednesday, November 19th. This represents a $5.20 annualized dividend and a dividend yield of 5.6%. Chord Energy’s dividend payout ratio (DPR) is presently 200.00%.

Insiders Place Their Bets

In other Chord Energy news, EVP Shannon Browning Kinney sold 3,019 shares of the company’s stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $105.43, for a total value of $318,293.17. Following the completion of the transaction, the executive vice president owned 14,650 shares in the company, valued at approximately $1,544,549.50. This represents a 17.09% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Samantha Holroyd acquired 1,250 shares of the firm’s stock in a transaction that occurred on Friday, November 7th. The stock was acquired at an average cost of $85.50 per share, with a total value of $106,875.00. Following the completion of the acquisition, the director directly owned 17,706 shares in the company, valued at approximately $1,513,863. This represents a 7.60% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders own 0.70% of the company’s stock.

Institutional Trading of Chord Energy

Hedge funds have recently bought and sold shares of the company. AQR Capital Management LLC lifted its stake in Chord Energy by 59.8% in the 1st quarter. AQR Capital Management LLC now owns 236,436 shares of the company’s stock valued at $26,651,000 after purchasing an additional 88,490 shares during the last quarter. Hsbc Holdings PLC boosted its holdings in shares of Chord Energy by 364.2% during the 1st quarter. Hsbc Holdings PLC now owns 35,795 shares of the company’s stock worth $4,055,000 after buying an additional 28,084 shares in the last quarter. Wealth Enhancement Advisory Services LLC bought a new stake in shares of Chord Energy in the 2nd quarter worth $1,755,000. Magnetar Financial LLC increased its position in Chord Energy by 218.1% in the first quarter. Magnetar Financial LLC now owns 92,993 shares of the company’s stock worth $10,482,000 after buying an additional 63,756 shares during the last quarter. Finally, Advisors Asset Management Inc. increased its position in shares of Chord Energy by 64.2% during the first quarter. Advisors Asset Management Inc. now owns 55,449 shares of the company’s stock valued at $6,250,000 after buying an additional 21,676 shares during the period. 97.76% of the stock is owned by hedge funds and other 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.