Chord Energy (NASDAQ:CHRD) Given New $185.00 Price Target at Truist Financial

Chord Energy (NASDAQ:CHRD) had its price objective reduced by Truist Financial from $223.00 to $185.00 in a research note published on Monday morning, Benzinga reports. They currently have a buy rating on the stock.

Several other equities research analysts also recently commented on CHRD. Royal Bank of Canada reiterated an outperform rating and set a $200.00 target price on shares of Chord Energy in a report on Friday, September 20th. Bank of America boosted their target price on shares of Chord Energy from $201.00 to $208.00 and gave the stock a buy rating in a research report on Wednesday, August 21st. Wolfe Research assumed coverage on shares of Chord Energy in a report on Thursday, July 18th. They set a peer perform rating for the company. Citigroup dropped their price target on shares of Chord Energy from $195.00 to $180.00 and set a buy rating on the stock in a research note on Monday, August 12th. Finally, BMO Capital Markets assumed coverage on shares of Chord Energy in a research report on Monday, June 3rd. They issued an outperform rating and a $230.00 price objective for the company. Two investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, Chord Energy has a consensus rating of Moderate Buy and an average target price of $197.90.

Chord Energy Stock Up 0.2 %

CHRD opened at $130.87 on Monday. The company has a market cap of $5.46 billion, a PE ratio of 6.15, a price-to-earnings-growth ratio of 4.92 and a beta of 0.99. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.91 and a current ratio of 0.96. Chord Energy has a 1 year low of $126.96 and a 1 year high of $190.23. The firm has a 50 day moving average price of $146.75 and a 200 day moving average price of $165.67.

Chord Energy (NASDAQ:CHRD) last announced 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). Chord Energy had a return on equity of 15.06% and a net margin of 20.83%. The business had revenue of $902.70 million for the quarter, compared to analysts’ expectations of $982.43 million. During the same period last year, the company posted $3.65 earnings per share. The firm’s revenue for the quarter was up 29.8% on a year-over-year basis. Sell-side analysts expect 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. Investors of record on Wednesday, August 21st were issued a $1.25 dividend. This represents a $5.00 annualized dividend and a yield of 3.82%. The ex-dividend date of this dividend was Wednesday, August 21st. Chord Energy’s dividend payout ratio is currently 23.46%.

Insider Buying and Selling at Chord Energy

In other news, Director Samantha Holroyd bought 500 shares of the firm’s stock in a transaction dated Friday, August 23rd. The stock was bought at an average price of $149.51 per share, for a total transaction of $74,755.00. Following the transaction, the director now owns 14,417 shares in the company, valued at $2,155,485.67. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. 0.70% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Chord Energy

A number of hedge funds have recently added to or reduced their stakes in the business. Fortem Financial Group LLC boosted its holdings in shares of Chord Energy by 1.6% in the 1st quarter. Fortem Financial Group LLC now owns 5,958 shares of the company’s stock valued at $1,062,000 after buying an additional 91 shares during the period. New York State Teachers Retirement System boosted its stake in Chord Energy by 0.6% in the first quarter. New York State Teachers Retirement System now owns 15,792 shares of the company’s stock valued at $2,815,000 after acquiring an additional 100 shares during the period. Benjamin F. Edwards & Company Inc. grew its holdings in shares of Chord Energy by 125.9% during the second 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 during the last quarter. Rise Advisors LLC acquired a new stake in shares of Chord Energy during the 1st quarter worth approximately $31,000. Finally, Ellsworth Advisors LLC raised its position in shares of Chord Energy by 6.6% during the 2nd quarter. Ellsworth Advisors LLC now owns 3,048 shares of the company’s stock worth $511,000 after purchasing an additional 188 shares during the period. Institutional investors and hedge funds own 97.76% of the company’s stock.

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.