Chord Energy (NASDAQ:CHRD) PT Lowered to $185.00 at Wells Fargo & Company

Chord Energy (NASDAQ:CHRD) had its target price cut by Wells Fargo & Company from $200.00 to $185.00 in a research note released on Tuesday morning, Benzinga reports. They currently have an overweight rating on the stock.

Other equities research analysts have also issued reports about the company. BMO Capital Markets started coverage on Chord Energy in a research note on Monday, June 3rd. They issued an outperform rating and a $230.00 price objective on the stock. Citigroup lowered their price objective on Chord Energy from $195.00 to $180.00 and set a buy rating on the stock in a research note on Monday, August 12th. Truist Financial lowered their price objective on Chord Energy from $223.00 to $185.00 and set a buy rating on the stock in a research note on Monday. Piper Sandler reduced their target price on Chord Energy from $234.00 to $206.00 and set an overweight rating on the stock in a report on Thursday, August 15th. Finally, Wolfe Research assumed coverage on Chord Energy in a report on Thursday, July 18th. They issued a peer perform rating on the stock. Two research analysts have 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 currently has a consensus rating of Moderate Buy and a consensus target price of $197.90.

Chord Energy Trading Up 2.9 %

Shares of CHRD opened at $134.70 on Tuesday. Chord Energy has a 12-month low of $126.96 and a 12-month high of $190.23. The firm has a market capitalization of $5.62 billion, a price-to-earnings ratio of 6.25, a P/E/G ratio of 4.92 and a beta of 0.99. The stock’s 50-day moving average price is $145.95 and its 200 day moving average price is $165.42. The company has a quick ratio of 0.91, a current ratio of 0.96 and a debt-to-equity ratio of 0.11.

Chord Energy (NASDAQ:CHRD) last released its quarterly earnings data on Wednesday, August 7th. The company reported $4.69 earnings per share for the quarter, missing the consensus estimate of $5.00 by ($0.31). Chord Energy had a net margin of 20.83% and a return on equity of 15.06%. The company had revenue of $902.70 million during the quarter, compared to the consensus estimate of $982.43 million. During the same quarter in the prior year, the company posted $3.65 earnings per share. The company’s revenue for the quarter was up 29.8% on a year-over-year basis. As a group, research analysts predict that Chord Energy will post 18.48 earnings per share for the current year.

Chord Energy Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 5th. Shareholders of record on Wednesday, August 21st were issued a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a yield of 3.71%. The ex-dividend date of this dividend was Wednesday, August 21st. Chord Energy’s dividend payout ratio is 23.46%.

Insiders Place Their Bets

In other news, Director Samantha Holroyd acquired 500 shares of Chord Energy stock in a transaction on Friday, August 23rd. The shares were purchased at an average price of $149.51 per share, with a total value of $74,755.00. Following the acquisition, the director now owns 14,417 shares in the company, valued at $2,155,485.67. The transaction was disclosed in a document filed with the SEC, which is available through this link. Company insiders own 0.70% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of CHRD. Parallel Advisors LLC lifted its stake in shares of Chord Energy by 26.3% in the 4th quarter. Parallel Advisors LLC now owns 1,200 shares of the company’s stock valued at $199,000 after purchasing an additional 250 shares during the period. Stifel Financial Corp lifted its stake in shares of Chord Energy by 145.4% in the 4th quarter. Stifel Financial Corp now owns 55,913 shares of the company’s stock valued at $9,294,000 after purchasing an additional 33,129 shares during the period. TFO Wealth Partners LLC lifted its stake in shares of Chord Energy by 61,650.0% in the 4th quarter. TFO Wealth Partners LLC now owns 1,235 shares of the company’s stock valued at $205,000 after purchasing an additional 1,233 shares during the period. The Manufacturers Life Insurance Company lifted its stake in shares of Chord Energy by 5.5% in the 4th quarter. The Manufacturers Life Insurance Company now owns 247,807 shares of the company’s stock valued at $41,193,000 after purchasing an additional 12,960 shares during the period. Finally, First Trust Advisors LP lifted its stake in shares of Chord Energy by 11.0% in the 4th quarter. First Trust Advisors LP now owns 1,402,359 shares of the company’s stock valued at $233,114,000 after purchasing an additional 138,957 shares during the period. 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.