Royal Bank of Canada Raises Chord Energy (NASDAQ:CHRD) Price Target to $200.00

Chord Energy (NASDAQ:CHRD) had its price objective increased by Royal Bank of Canada from $180.00 to $200.00 in a research note released on Monday morning, Benzinga reports. They currently have an outperform rating on the stock.

A number of other brokerages have also recently issued reports on CHRD. Truist Financial cut their target price on shares of Chord Energy from $229.00 to $224.00 and set a buy rating for the company in a research report on Friday, April 5th. Bank of America lowered Chord Energy from a buy rating to an underperform rating and reduced their target price for the company from $177.00 to $165.00 in a research note on Friday, January 5th. Stifel Nicolaus raised their price target on Chord Energy from $178.00 to $211.00 and gave the stock a buy rating in a research report on Tuesday, February 27th. Piper Sandler upped their price objective on Chord Energy from $219.00 to $230.00 and gave the company an overweight rating in a research report on Friday, April 19th. Finally, Mizuho lifted their price objective on Chord Energy from $189.00 to $195.00 and gave the stock a buy rating in a research report on Thursday, March 14th. One analyst has rated the stock with a sell rating, one has given a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of Moderate Buy and a consensus target price of $193.50.

Chord Energy Stock Performance

NASDAQ CHRD opened at $174.17 on Monday. The business has a 50 day moving average price of $173.78 and a 200 day moving average price of $165.76. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.22 and a quick ratio of 1.16. The company has a market capitalization of $7.24 billion, a P/E ratio of 7.40 and a beta of 1.06. Chord Energy has a 1-year low of $133.34 and a 1-year high of $190.23.

Chord Energy (NASDAQ:CHRD) last announced its quarterly earnings results on Wednesday, February 21st. The company reported $5.25 earnings per share for the quarter, beating analysts’ consensus estimates of $5.04 by $0.21. Chord Energy had a return on equity of 16.35% and a net margin of 26.27%. The business had revenue of $964.69 million during the quarter, compared to analysts’ expectations of $891.67 million. Sell-side analysts expect that Chord Energy will post 22.03 EPS for the current fiscal year.

Chord Energy Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 19th. Investors of record on Tuesday, March 5th were given a dividend of $3.25 per share. The ex-dividend date was Monday, March 4th. This is an increase from Chord Energy’s previous quarterly dividend of $1.25. This represents a $13.00 annualized dividend and a yield of 7.46%. Chord Energy’s dividend payout ratio is 21.25%.

Insider Buying and Selling at Chord Energy

In other news, CFO Michael H. Lou sold 3,000 shares of the stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $165.00, for a total transaction of $495,000.00. Following the transaction, the chief financial officer now directly owns 128,209 shares in the company, valued at approximately $21,154,485. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.70% of the stock is owned by company insiders.

Institutional Trading of Chord Energy

A number of institutional investors and hedge funds have recently made changes to their positions in CHRD. Commonwealth Equity Services LLC boosted its holdings in Chord Energy by 0.6% in the third quarter. Commonwealth Equity Services LLC now owns 12,246 shares of the company’s stock valued at $1,985,000 after acquiring an additional 67 shares during the last quarter. Fifth Third Bancorp lifted its stake in shares of Chord Energy by 15.4% in the 3rd quarter. Fifth Third Bancorp now owns 526 shares of the company’s stock valued at $85,000 after purchasing an additional 70 shares in the last quarter. State Board of Administration of Florida Retirement System lifted its stake in shares of Chord Energy by 0.6% in the 3rd quarter. State Board of Administration of Florida Retirement System now owns 11,956 shares of the company’s stock valued at $1,938,000 after purchasing an additional 70 shares in the last quarter. Xponance Inc. grew its holdings in shares of Chord Energy by 1.3% during the 4th quarter. Xponance Inc. now owns 6,070 shares of the company’s stock worth $1,009,000 after purchasing an additional 77 shares during the period. Finally, Contravisory Investment Management Inc. increased its position in Chord Energy by 48.9% during the 4th quarter. Contravisory Investment Management Inc. now owns 259 shares of the company’s stock worth $43,000 after purchasing an additional 85 shares in the last quarter. 97.76% of the stock is currently owned by institutional investors and hedge funds.

Chord Energy Company Profile

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.