Citigroup Cuts Chord Energy (NASDAQ:CHRD) Price Target to $120.00

Chord Energy (NASDAQ:CHRD) had its target price reduced by Citigroup from $135.00 to $120.00 in a report released on Monday morning,Benzinga reports. They currently have a buy rating on the stock.

A number of other research firms have also issued reports on CHRD. Piper Sandler decreased their target price on Chord Energy from $193.00 to $184.00 and set an “overweight” rating for the company in a report on Thursday, March 6th. Bank of America decreased their price objective on Chord Energy from $138.00 to $125.00 and set a “neutral” rating for the company in a research note on Tuesday, April 1st. Truist Financial upped their target price on shares of Chord Energy from $185.00 to $186.00 and gave the stock a “buy” rating in a research note on Monday, January 13th. Mizuho decreased their price target on shares of Chord Energy from $192.00 to $178.00 and set an “outperform” rating for the company in a research note on Monday, December 16th. Finally, Wolfe Research raised shares of Chord Energy from a “peer perform” rating to an “outperform” rating and set a $155.00 price objective on the stock in a research report on Friday, January 3rd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $160.31.

Chord Energy Stock Performance

Shares of CHRD stock opened at $86.02 on Monday. The firm has a 50 day moving average of $109.21 and a two-hundred day moving average of $119.76. The stock has a market capitalization of $5.12 billion, a PE ratio of 4.43, a P/E/G ratio of 5.83 and a beta of 0.96. The company has a quick ratio of 0.89, a current ratio of 0.93 and a debt-to-equity ratio of 0.10. Chord Energy has a 52 week low of $82.03 and a 52 week high of $190.23.

Chord Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 26th. Shareholders of record on Tuesday, March 11th were paid a $1.30 dividend. This represents a $5.20 annualized dividend and a yield of 6.05%. The ex-dividend date of this dividend was Tuesday, March 11th. This is an increase from Chord Energy’s previous quarterly dividend of $1.25. Chord Energy’s dividend payout ratio is currently 32.62%.

Institutional Trading of Chord Energy

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Altshuler Shaham Ltd acquired a new position in Chord Energy during the fourth quarter worth approximately $25,000. Brooklyn Investment Group acquired a new position in shares of Chord Energy in the 4th quarter valued at $29,000. Twin Tree Management LP acquired a new position in shares of Chord Energy in the 4th quarter valued at $33,000. Larson Financial Group LLC raised its position in Chord Energy by 238.3% in the 4th quarter. Larson Financial Group LLC now owns 318 shares of the company’s stock valued at $37,000 after purchasing an additional 224 shares during the last quarter. Finally, R Squared Ltd acquired a new stake in Chord Energy during the 4th quarter worth $51,000. 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.