Chord Energy (NASDAQ:CHRD) Given New $155.00 Price Target at Citigroup

Chord Energy (NASDAQ:CHRD) had its price objective hoisted by Citigroup from $120.00 to $155.00 in a research note published on Tuesday,Benzinga reports. They currently have a neutral rating on the stock.

A number of other equities research analysts have also recently issued reports on the company. Wall Street Zen upgraded Chord Energy from a “sell” rating to a “hold” rating in a research note on Saturday. Jefferies Financial Group set a $99.00 target price on shares of Chord Energy in a research note on Saturday, January 17th. Wells Fargo & Company boosted their price target on Chord Energy from $109.00 to $136.00 and gave the stock an “overweight” rating in a research report on Monday, March 16th. Royal Bank Of Canada dropped their price objective on Chord Energy from $135.00 to $128.00 and set an “outperform” rating on the stock in a research note on Tuesday, January 13th. Finally, Morgan Stanley raised Chord Energy from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $114.00 to $168.00 in a research report on Friday, March 27th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, Chord Energy currently has an average rating of “Moderate Buy” and an average price target of $141.83.

Chord Energy Stock Down 2.8%

Chord Energy stock opened at $142.18 on Tuesday. The company has a 50 day moving average of $112.95 and a 200-day moving average of $100.60. The company has a quick ratio of 0.98, a current ratio of 1.06 and a debt-to-equity ratio of 0.18. Chord Energy has a twelve month low of $79.83 and a twelve month high of $148.41. The stock has a market capitalization of $8.06 billion, a PE ratio of 225.68 and a beta of 0.84.

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

Chord Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 27th. Shareholders of record on Thursday, March 12th were given a dividend of $1.30 per share. The ex-dividend date was Thursday, March 12th. This represents a $5.20 annualized dividend and a yield of 3.7%. Chord Energy’s dividend payout ratio (DPR) is 825.40%.

Insider Transactions at Chord Energy

In other news, EVP Michael H. Lou sold 15,000 shares of the company’s stock in a transaction that occurred 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 transaction, the executive vice president owned 82,699 shares of the company’s stock, valued at approximately $10,376,243.53. This represents a 15.35% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Shannon Browning Kinney sold 1,801 shares of the stock in a transaction that occurred on Tuesday, March 3rd. The stock was sold at an average price of $114.36, for a total value of $205,962.36. Following the transaction, the executive vice president owned 20,188 shares in the company, valued at approximately $2,308,699.68. This trade represents a 8.19% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 23,927 shares of company stock worth $2,912,028. Insiders own 0.79% of the company’s stock.

Institutional Investors Weigh In On Chord Energy

A number of institutional investors have recently modified their holdings of CHRD. Citigroup Inc. increased its stake in shares of Chord Energy by 31.1% in the 3rd quarter. Citigroup Inc. now owns 111,590 shares of the company’s stock valued at $11,089,000 after acquiring an additional 26,499 shares in the last quarter. Massachusetts Financial Services Co. MA bought a new position in Chord Energy during the third quarter worth $91,434,000. Wedge Capital Management L L P NC acquired a new stake in Chord Energy in the third quarter worth $13,092,000. AlphaQuest LLC increased its stake in Chord Energy by 1,576.7% in the third quarter. AlphaQuest LLC now owns 27,933 shares of the company’s stock valued at $2,776,000 after purchasing an additional 26,267 shares in the last quarter. Finally, Westwood Holdings Group Inc. increased its stake in Chord Energy by 22.9% in the second quarter. Westwood Holdings Group Inc. now owns 214,680 shares of the company’s stock valued at $20,792,000 after purchasing an additional 39,980 shares in the last quarter. Institutional investors own 97.76% of the company’s stock.

Key Headlines Impacting Chord Energy

Here are the key news stories impacting Chord Energy this week:

• Positive Sentiment: Morgan Stanley upgraded CHRD, a clear buy-side signal that can attract institutional demand and support the stock’s momentum. Chord Energy (NASDAQ:CHRD) Upgraded at Morgan Stanley
• Positive Sentiment: Zacks reports that earnings estimates for CHRD are moving higher — upward estimate revisions often precede price gains as sell-side forecasts converge on stronger expected earnings. Earnings Estimates Moving Higher for Chord Energy Corporation (CHRD): Time to Buy?
• Positive Sentiment: CHRD is being highlighted as a momentum/near-52-week-high name across several Zacks pieces and other outlets — inclusion on momentum lists can draw momentum and quant flows. 4 Stocks Trading Near 52-Week High With More Upside Potential
• Positive Sentiment: Chord hit a yearly high amid Nasdaq‑100 momentum, signaling broader index flows may have helped push the stock higher before today’s pullback. Chord Energy (NASDAQ:CHRD) Hits Yearly High Amid Nasdaq 100 Index Momentum
• Positive Sentiment: Zacks added CHRD to its Zacks Rank #1 income stocks list, which may attract income- and dividend-focused investors. Best Income Stocks to Buy for March 31st
• Neutral Sentiment: Citigroup lifted its price target to $155 from $120 (implying further upside) but kept a “neutral” rating — the higher target is supportive, but the neutral stance limits the strength of the buy recommendation. Benzinga

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.