Chord Energy (NASDAQ:CHRD) Given New $160.00 Price Target at Piper Sandler

Chord Energy (NASDAQ:CHRD) had its price target trimmed by Piper Sandler from $165.00 to $160.00 in a research note released on Wednesday morning,Benzinga reports. The firm currently has an overweight rating on the stock.

CHRD has been the subject of a number of other research reports. Weiss Ratings reiterated a “hold (c-)” rating on shares of Chord Energy in a research report on Wednesday, January 21st. Zacks Research lowered shares of Chord Energy from a “hold” rating to a “strong sell” rating in a report on Tuesday, January 20th. UBS Group reduced their price objective on shares of Chord Energy from $123.00 to $119.00 and set a “buy” rating on the stock in a research note on Friday, January 9th. Mizuho set a $148.00 target price on Chord Energy in a research report on Friday, January 9th. Finally, Pickering Energy Partners downgraded Chord Energy from an “outperform” rating to a “neutral” rating in a report on Friday, January 9th. Eight investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $124.67.

Chord Energy Trading Up 0.1%

NASDAQ CHRD opened at $98.16 on Wednesday. The company has a market cap of $5.58 billion, a price-to-earnings ratio of 37.75 and a beta of 0.92. Chord Energy has a twelve month low of $79.83 and a twelve month high of $117.79. The company has a quick ratio of 1.28, a current ratio of 1.35 and a debt-to-equity ratio of 0.18. The business’s fifty day moving average is $93.50 and its 200 day moving average is $97.74.

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 analysts’ consensus estimates of $2.24 by $0.11. Chord Energy had a return on equity of 8.27% and a net margin of 3.31%.The business had revenue of $1.31 billion during the quarter, compared to analysts’ expectations of $1.02 billion. During the same quarter in the prior year, the firm earned $3.40 EPS. The business’s revenue for the quarter was up 17.0% compared to the same quarter last year. As a group, sell-side analysts expect that Chord Energy will post 15.59 EPS for the current fiscal year.

Chord Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, December 5th. Shareholders of record on Wednesday, November 19th were issued a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a yield of 5.3%. The ex-dividend date was Wednesday, November 19th. Chord Energy’s dividend payout ratio (DPR) is presently 200.00%.

Insider Activity

In other Chord Energy news, Director Samantha Holroyd acquired 1,250 shares of the company’s stock in a transaction dated Friday, November 7th. The shares were bought at an average cost of $85.50 per share, with a total value of $106,875.00. Following the purchase, the director directly owned 17,706 shares of the company’s stock, valued at $1,513,863. This trade represents a 7.60% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.70% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Chord Energy

Institutional investors have recently added to or reduced their stakes in the business. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of Chord Energy by 17.1% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 123,964 shares of the company’s stock worth $13,973,000 after buying an additional 18,137 shares during the period. Focus Partners Wealth acquired a new stake in Chord Energy in the first quarter worth $289,000. Park Avenue Securities LLC increased its stake in Chord Energy by 14.2% in the second quarter. Park Avenue Securities LLC now owns 3,178 shares of the company’s stock valued at $308,000 after purchasing an additional 394 shares in the last quarter. GAMMA Investing LLC increased its stake in Chord Energy by 64.6% in the second quarter. GAMMA Investing LLC now owns 1,197 shares of the company’s stock valued at $116,000 after purchasing an additional 470 shares in the last quarter. Finally, State of Alaska Department of Revenue raised its holdings in shares of Chord Energy by 59.0% during the second quarter. State of Alaska Department of Revenue now owns 30,478 shares of the company’s stock valued at $2,951,000 after purchasing an additional 11,315 shares during the period. 97.76% of the stock is owned by institutional investors and hedge funds.

Chord Energy Company Profile

Chord Energy Corporation (NASDAQ: CHRD), formerly known as Oasis Petroleum Inc, is an independent exploration and production company focused on the acquisition, development and production of crude oil, natural gas and natural gas liquids. Headquartered in Houston, Texas, Chord Energy emerged from financial restructuring in early 2021 and rebranded in October 2022 to reflect its renewed strategic vision.

The company’s core operations are concentrated in two prolific U.S. resource plays: the Williston Basin across North Dakota and Montana, and the Delaware Basin spanning parts of West Texas and southeastern New Mexico.