Piper Sandler Cuts Chord Energy (NASDAQ:CHRD) Price Target to $206.00

Chord Energy (NASDAQ:CHRD) had its target price reduced by Piper Sandler from $234.00 to $206.00 in a report issued on Thursday morning, Benzinga reports. They currently have an overweight rating on the stock.

A number of other equities research analysts have also recently weighed in on CHRD. Royal Bank of Canada lifted their price target on shares of Chord Energy from $180.00 to $200.00 and gave the company an outperform rating in a research report on Monday, April 29th. Bank of America reissued a buy rating and issued a $201.00 target price on shares of Chord Energy in a research report on Friday, June 14th. Wolfe Research initiated coverage on Chord Energy in a research note on Thursday, July 18th. They set a peer perform rating on the stock. Mizuho lifted their price objective on Chord Energy from $195.00 to $214.00 and gave the company a buy rating in a research note on Monday, May 13th. Finally, BMO Capital Markets assumed coverage on Chord Energy in a research note on Monday, June 3rd. They set an outperform rating and a $230.00 target price on the stock. One equities research analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and a consensus target price of $206.00.

Chord Energy Trading Down 0.8 %

Shares of Chord Energy stock opened at $153.10 on Thursday. Chord Energy has a fifty-two week low of $145.53 and a fifty-two week high of $190.23. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.07 and a current ratio of 1.14. The firm has a market capitalization of $6.38 billion, a price-to-earnings ratio of 7.18, a PEG ratio of 0.92 and a beta of 1.01. The stock has a 50 day moving average of $166.38 and a 200 day moving average of $170.16.

Chord Energy (NASDAQ:CHRD) last released its quarterly earnings results on Wednesday, August 7th. The company reported $4.69 earnings per share for the quarter, missing analysts’ consensus estimates of $5.00 by ($0.31). The business had revenue of $902.70 million for the quarter, compared to analysts’ expectations of $982.43 million. Chord Energy had a return on equity of 16.57% and a net margin of 22.67%. The business’s revenue for the quarter was up 29.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $3.65 earnings per share. As a group, research analysts predict that Chord Energy will post 20.85 earnings per share for the current year.

Chord Energy Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 5th. Shareholders of record on Wednesday, August 21st will be issued a dividend of $1.25 per share. The ex-dividend date is Wednesday, August 21st. This represents a $5.00 annualized dividend and a yield of 3.27%. Chord Energy’s dividend payout ratio (DPR) is 23.46%.

Institutional Investors Weigh In On Chord Energy

Hedge funds have recently bought and sold shares of the stock. Rise Advisors LLC purchased a new stake in shares of Chord Energy during the first quarter worth approximately $31,000. Ashton Thomas Private Wealth LLC purchased a new stake in shares of Chord Energy in the 2nd quarter valued at approximately $40,000. Benjamin F. Edwards & Company Inc. raised its holdings in shares of Chord Energy by 125.9% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 244 shares of the company’s stock valued at $41,000 after purchasing an additional 136 shares in the last quarter. SRS Capital Advisors Inc. lifted its position in shares of Chord Energy by 306.9% during the 4th quarter. SRS Capital Advisors Inc. now owns 293 shares of the company’s stock worth $49,000 after purchasing an additional 221 shares during the last quarter. Finally, Lindbrook Capital LLC grew its stake in shares of Chord Energy by 67.6% during the fourth quarter. Lindbrook Capital LLC now owns 305 shares of the company’s stock worth $51,000 after purchasing an additional 123 shares in the last quarter. Institutional investors and hedge funds own 97.76% of the company’s stock.

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.