Chord Energy (NASDAQ:CHRD) Price Target Raised to $187.00 at Truist Financial

Chord Energy (NASDAQ:CHRD) had its price target increased by Truist Financial from $169.00 to $187.00 in a research report report published on Monday,Benzinga reports. Truist Financial currently has a buy rating on the stock.

CHRD has been the topic of a number of other research reports. Pickering Energy Partners lowered Chord Energy from an “outperform” rating to a “neutral” rating in a research note on Friday, January 9th. Scotiabank upgraded Chord Energy to a “hold” rating in a research note on Friday, March 27th. Mizuho set a $148.00 price objective on Chord Energy in a research note on Friday, January 9th. Wall Street Zen upgraded Chord Energy from a “sell” rating to a “hold” rating in a research note on Saturday, March 28th. Finally, Weiss Ratings upgraded Chord Energy from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Tuesday, March 17th. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $146.58.

Chord Energy Price Performance

Chord Energy stock opened at $134.76 on Monday. The stock’s fifty day moving average price is $120.38 and its two-hundred day moving average price is $102.83. Chord Energy has a one year low of $84.25 and a one year high of $148.41. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.06 and a quick ratio of 0.98. The firm has a market cap of $7.64 billion, a PE ratio of 213.90 and a beta of 0.66.

Chord Energy (NASDAQ:CHRD) last posted its quarterly earnings data on Wednesday, February 25th. The company reported $1.28 EPS for the quarter, topping analysts’ consensus estimates of $1.17 by $0.11. Chord Energy had a return on equity of 6.71% and a net margin of 0.91%.The firm had revenue of $1.17 billion for the quarter, compared to analyst estimates of $1.03 billion. During the same quarter last year, the company earned $3.49 EPS. The company’s revenue was down 19.6% on a year-over-year basis. As a group, research analysts expect that Chord Energy will post 15.59 EPS for the current fiscal year.

Chord Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 27th. Shareholders of record on Thursday, March 12th were issued a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a dividend yield of 3.9%. The ex-dividend date of this dividend was Thursday, March 12th. Chord Energy’s dividend payout ratio (DPR) is currently 825.40%.

Insiders Place Their Bets

In other Chord Energy news, EVP Michael H. Lou sold 15,000 shares of the firm’s stock in a transaction on Thursday, March 12th. The stock was sold at an average price of $125.47, for a total value of $1,882,050.00. Following the sale, the executive vice president owned 82,699 shares of the company’s stock, valued at approximately $10,376,243.53. This trade represents a 15.35% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO Lara J. Kroll sold 5,000 shares of the firm’s stock in a transaction on Tuesday, March 3rd. The shares were sold at an average price of $113.66, for a total value of $568,300.00. Following the completion of the sale, the chief accounting officer directly owned 8,921 shares in the company, valued at approximately $1,013,960.86. This represents a 35.92% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 23,927 shares of company stock worth $2,912,028. 0.79% of the stock is owned by company insiders.

Institutional Investors Weigh In On Chord Energy

Several hedge funds have recently modified their holdings of the company. Victory Capital Management Inc. boosted its holdings in shares of Chord Energy by 5.4% during the 3rd quarter. Victory Capital Management Inc. now owns 3,166,564 shares of the company’s stock valued at $314,661,000 after acquiring an additional 163,125 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Chord Energy by 15.6% during the 4th quarter. Geode Capital Management LLC now owns 2,053,045 shares of the company’s stock valued at $190,346,000 after acquiring an additional 277,588 shares in the last quarter. Wellington Management Group LLP boosted its holdings in shares of Chord Energy by 6.1% during the 4th quarter. Wellington Management Group LLP now owns 1,809,526 shares of the company’s stock valued at $167,743,000 after acquiring an additional 104,373 shares in the last quarter. Adage Capital Partners GP L.L.C. boosted its holdings in shares of Chord Energy by 18.4% during the 4th quarter. Adage Capital Partners GP L.L.C. now owns 1,243,850 shares of the company’s stock valued at $115,305,000 after acquiring an additional 193,469 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of Chord Energy by 85.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,218,167 shares of the company’s stock valued at $112,927,000 after acquiring an additional 561,899 shares in the last quarter. Institutional investors and hedge funds own 97.76% of the company’s stock.

About Chord Energy

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.