Chord Energy (NASDAQ:CHRD) Price Target Raised to $190.00

Chord Energy (NASDAQ:CHRD) had its price target increased by Piper Sandler from $158.00 to $190.00 in a research note released on Thursday morning,Benzinga reports. The firm currently has an overweight rating on the stock.

Several other equities analysts also recently commented on the stock. Jefferies Financial Group set a $99.00 price target on shares of Chord Energy in a research note on Saturday, January 17th. Citigroup increased their price objective on Chord Energy from $97.00 to $120.00 and gave the company a “neutral” rating in a research note on Friday, March 6th. Scotiabank reiterated a “sector perform” rating and issued a $114.00 target price on shares of Chord Energy in a report on Friday, January 16th. Mizuho set a $148.00 target price on Chord Energy in a research note on Friday, January 9th. Finally, William Blair assumed coverage on Chord Energy in a report on Friday, November 21st. They set an “outperform” rating on the stock. Eight equities research 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.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $128.82.

Chord Energy Stock Up 0.4%

Shares of CHRD opened at $123.45 on Thursday. The company’s 50-day simple moving average is $102.40 and its 200-day simple moving average is $98.21. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.98 and a current ratio of 1.06. Chord Energy has a 1 year low of $79.83 and a 1 year high of $127.56. The stock has a market capitalization of $7.02 billion, a PE ratio of 195.95 and a beta of 0.84.

Chord Energy (NASDAQ:CHRD) last announced its quarterly earnings data on Wednesday, February 25th. The company reported $1.28 earnings per share for the quarter, beating analysts’ consensus estimates of $1.17 by $0.11. The firm had revenue of $1.17 billion during the quarter, compared to analysts’ expectations of $1.03 billion. Chord Energy had a net margin of 0.91% and a return on equity of 6.71%. The business’s quarterly revenue was down 19.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.49 earnings per share. Analysts forecast that Chord Energy will post 15.59 earnings per share for the current fiscal year.

Chord Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 27th. Stockholders of record on Thursday, March 12th will be issued a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.2%. The ex-dividend date is Thursday, March 12th. Chord Energy’s dividend payout ratio (DPR) is presently 825.40%.

Insider Transactions at Chord Energy

In related news, EVP Shannon Browning Kinney sold 1,801 shares of the business’s stock in a transaction on Tuesday, March 3rd. The shares were sold at an average price of $114.36, for a total transaction of $205,962.36. Following the completion of the transaction, the executive vice president owned 20,188 shares in the company, valued at approximately $2,308,699.68. The trade was a 8.19% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Douglas E. Brooks sold 2,126 shares of the stock in a transaction on Friday, March 6th. The shares were sold at an average price of $120.28, for a total value of $255,715.28. Following the completion of the transaction, the director directly owned 25,181 shares in the company, valued at $3,028,770.68. This trade represents a 7.79% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders sold 8,927 shares of company stock valued at $1,029,978. Insiders own 0.70% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in CHRD. WealthCollab LLC raised its position in shares of Chord Energy by 90.6% during the 2nd quarter. WealthCollab LLC now owns 305 shares of the company’s stock worth $30,000 after acquiring an additional 145 shares in the last quarter. Quent Capital LLC acquired a new position in Chord Energy in the third quarter valued at approximately $32,000. Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in Chord Energy by 91.2% in the second quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 411 shares of the company’s stock valued at $40,000 after purchasing an additional 196 shares in the last quarter. Pilgrim Partners Asia Pte Ltd purchased a new position in Chord Energy in the third quarter valued at approximately $46,000. Finally, TD Private Client Wealth LLC increased its stake in Chord Energy by 360.3% in the fourth quarter. TD Private Client Wealth LLC now owns 580 shares of the company’s stock valued at $54,000 after purchasing an additional 454 shares during the last quarter. 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.