Truist Financial Lowers Chord Energy (NASDAQ:CHRD) Price Target to $223.00

Chord Energy (NASDAQ:CHRD) had its price target cut by Truist Financial from $226.00 to $223.00 in a research note released on Monday, Benzinga reports. They currently have a buy rating on the stock.

Other research analysts also recently issued research reports about the company. Piper Sandler upped their target price on Chord Energy from $233.00 to $234.00 and gave the stock an overweight rating in a report on Thursday, July 18th. Mizuho upped their target price on Chord Energy from $195.00 to $214.00 and gave the stock a buy rating in a report on Monday, May 13th. Royal Bank of Canada upped their price target on Chord Energy from $180.00 to $200.00 and gave the stock an outperform rating in a research note on Monday, April 29th. Bank of America restated a buy rating and issued a $201.00 price target on shares of Chord Energy in a research note on Friday, June 14th. Finally, Citigroup assumed coverage on Chord Energy in a research note on Monday, July 1st. They issued a buy rating and a $195.00 price target on the stock. One investment analyst has rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and an average price target of $210.78.

Chord Energy Stock Down 0.9 %

Shares of NASDAQ:CHRD opened at $170.78 on Monday. Chord Energy has a 1 year low of $148.32 and a 1 year high of $190.23. The company has a market cap of $7.12 billion, a PE ratio of 8.01, a P/E/G ratio of 0.94 and a beta of 1.01. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.14 and a quick ratio of 1.07. The stock’s 50-day moving average is $172.95 and its 200 day moving average is $169.73.

Chord Energy (NASDAQ:CHRD) last posted its earnings results on Tuesday, May 7th. The company reported $5.10 earnings per share for the quarter, topping analysts’ consensus estimates of $4.75 by $0.35. Chord Energy had a return on equity of 16.57% and a net margin of 22.67%. The firm had revenue of $1.09 billion for the quarter, compared to the consensus estimate of $771.87 million. During the same quarter in the prior year, the business earned $4.50 EPS. The business’s revenue for the quarter was up 24.8% on a year-over-year basis. Sell-side analysts anticipate that Chord Energy will post 21.39 EPS for the current year.

Chord Energy Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 5th. Investors of record on Wednesday, May 22nd were given a $2.94 dividend. The ex-dividend date of this dividend was Tuesday, May 21st. This represents a $11.76 annualized dividend and a yield of 6.89%. Chord Energy’s dividend payout ratio (DPR) is presently 23.46%.

Hedge Funds Weigh In On Chord Energy

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Rise Advisors LLC bought a new position in Chord Energy in the 1st quarter valued at approximately $31,000. SRS Capital Advisors Inc. lifted its position in Chord Energy by 306.9% in the 4th quarter. SRS Capital Advisors Inc. now owns 293 shares of the company’s stock valued at $49,000 after acquiring an additional 221 shares in the last quarter. Lindbrook Capital LLC lifted its position in Chord Energy by 67.6% in the 4th quarter. Lindbrook Capital LLC now owns 305 shares of the company’s stock valued at $51,000 after acquiring an additional 123 shares in the last quarter. GAMMA Investing LLC lifted its position in Chord Energy by 151.6% in the 2nd quarter. GAMMA Investing LLC now owns 317 shares of the company’s stock valued at $53,000 after acquiring an additional 191 shares in the last quarter. Finally, Viking Fund Management LLC lifted its position in Chord Energy by 40.0% in the 4th quarter. Viking Fund Management LLC now owns 350 shares of the company’s stock valued at $58,000 after acquiring an additional 100 shares in the last quarter. 97.76% of the stock is owned by institutional investors.

About Chord Energy

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.