Chord Energy (NASDAQ:CHRD) Price Target Cut to $165.00 by Analysts at Piper Sandler

Chord Energy (NASDAQ:CHRD) had its target price cut by Piper Sandler from $167.00 to $165.00 in a research note released on Tuesday morning,Benzinga reports. They currently have an overweight rating on the stock.

CHRD has been the topic of a number of other reports. Mizuho decreased their price objective on Chord Energy from $152.00 to $142.00 and set an “outperform” rating on the stock in a report on Monday, September 15th. Scotiabank assumed coverage on Chord Energy in a research note on Friday, September 19th. They issued a “sector perform” rating and a $120.00 price target on the stock. Morgan Stanley lowered their price target on Chord Energy from $131.00 to $128.00 and set an “equal weight” rating for the company in a report on Tuesday, October 14th. Weiss Ratings restated a “hold (c-)” rating on shares of Chord Energy in a report on Wednesday, October 8th. Finally, UBS Group lowered their target price on shares of Chord Energy from $130.00 to $123.00 and set a “buy” rating for the company in a research note on Wednesday, November 12th. Ten equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $138.08.

Chord Energy Price Performance

Chord Energy stock opened at $92.10 on Tuesday. The company has a current ratio of 1.35, a quick ratio of 1.28 and a debt-to-equity ratio of 0.18. The company has a 50-day moving average price of $95.29 and a 200 day moving average price of $99.34. Chord Energy has a 12-month low of $79.83 and a 12-month high of $134.54. The stock has a market cap of $5.24 billion, a P/E ratio of 35.42 and a beta of 0.92.

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

Chord Energy Dividend Announcement

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

Insider Transactions at Chord Energy

In other Chord Energy news, EVP Shannon Browning Kinney sold 3,019 shares of the business’s stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $105.43, for a total transaction of $318,293.17. Following the sale, the executive vice president directly owned 14,650 shares in the company, valued at $1,544,549.50. This represents a 17.09% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Samantha Holroyd acquired 1,250 shares of the stock in a transaction dated 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 purchase, the director owned 17,706 shares of the company’s stock, valued at approximately $1,513,863. This trade represents a 7.60% increase in their position. The SEC filing for this purchase provides additional information. 0.70% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Chord Energy

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. AQR Capital Management LLC lifted its position in shares of Chord Energy by 59.8% during the 1st quarter. AQR Capital Management LLC now owns 236,436 shares of the company’s stock worth $26,651,000 after buying an additional 88,490 shares during the last quarter. Hsbc Holdings PLC lifted its position in Chord Energy by 364.2% in the first quarter. Hsbc Holdings PLC now owns 35,795 shares of the company’s stock valued at $4,055,000 after acquiring an additional 28,084 shares during the last quarter. Wealth Enhancement Advisory Services LLC acquired a new position in Chord Energy in the second quarter valued at $1,755,000. Magnetar Financial LLC grew its holdings in shares of Chord Energy by 218.1% during the first quarter. Magnetar Financial LLC now owns 92,993 shares of the company’s stock worth $10,482,000 after purchasing an additional 63,756 shares during the last quarter. Finally, Advisors Asset Management Inc. grew its holdings 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 worth $6,250,000 after purchasing an additional 21,676 shares during the last quarter. Hedge funds and other institutional investors 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.