Chord Energy (NASDAQ:CHRD) Price Target Increased to $230.00 by Analysts at Piper Sandler

Chord Energy (NASDAQ:CHRD) had its price objective lifted by Piper Sandler from $219.00 to $230.00 in a report published on Friday, Benzinga reports. The brokerage currently has an overweight rating on the stock.

A number of other brokerages have also recently issued reports on CHRD. Mizuho lifted their price objective on shares of Chord Energy from $189.00 to $195.00 and gave the company a buy rating in a research note on Thursday, March 14th. Stifel Nicolaus lifted their price objective on shares of Chord Energy from $178.00 to $211.00 and gave the company a buy rating in a research note on Tuesday, February 27th. Truist Financial cut their target price on shares of Chord Energy from $229.00 to $224.00 and set a buy rating on the stock in a research report on Friday, April 5th. Finally, Bank of America lowered shares of Chord Energy from a buy rating to an underperform rating and cut their target price for the company from $177.00 to $165.00 in a research report on Friday, January 5th. One analyst has rated the stock with a sell rating, one has issued a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of Moderate Buy and an average price target of $191.50.

Chord Energy Stock Performance

CHRD opened at $182.10 on Friday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.16 and a current ratio of 1.22. Chord Energy has a 52-week low of $133.34 and a 52-week high of $190.23. The firm has a market cap of $7.56 billion, a P/E ratio of 7.74 and a beta of 1.06. The business’s fifty day moving average is $170.56 and its 200-day moving average is $164.66.

Chord Energy (NASDAQ:CHRD) last issued its quarterly earnings results on Wednesday, February 21st. The company reported $5.25 earnings per share for the quarter, topping analysts’ consensus estimates of $5.04 by $0.21. The company had revenue of $964.69 million during the quarter, compared to the consensus estimate of $891.67 million. Chord Energy had a net margin of 26.27% and a return on equity of 16.35%. Sell-side analysts expect that Chord Energy will post 21.6 EPS for the current fiscal year.

Chord Energy Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 19th. Stockholders of record on Tuesday, March 5th were issued a dividend of $3.25 per share. This represents a $13.00 dividend on an annualized basis and a dividend yield of 7.14%. The ex-dividend date was Monday, March 4th. This is a positive change from Chord Energy’s previous quarterly dividend of $1.25. Chord Energy’s payout ratio is 21.25%.

Insider Transactions at Chord Energy

In related news, CFO Michael H. Lou sold 3,000 shares of Chord Energy stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $154.15, for a total transaction of $462,450.00. Following the completion of the transaction, the chief financial officer now owns 131,209 shares of the company’s stock, valued at $20,225,867.35. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.70% of the stock is owned by company insiders.

Hedge Funds Weigh In On Chord Energy

Hedge funds have recently bought and sold shares of the company. FMR LLC increased its stake in Chord Energy by 12.9% in the third quarter. FMR LLC now owns 3,185,243 shares of the company’s stock valued at $516,232,000 after purchasing an additional 364,673 shares in the last quarter. American Century Companies Inc. increased its stake in Chord Energy by 158.5% in the third quarter. American Century Companies Inc. now owns 483,447 shares of the company’s stock valued at $78,352,000 after purchasing an additional 296,443 shares in the last quarter. Boston Partners increased its stake in Chord Energy by 50.8% in the fourth quarter. Boston Partners now owns 630,977 shares of the company’s stock valued at $104,815,000 after purchasing an additional 212,463 shares in the last quarter. AQR Capital Management LLC increased its position in shares of Chord Energy by 119.3% during the third quarter. AQR Capital Management LLC now owns 368,557 shares of the company’s stock worth $59,732,000 after acquiring an additional 200,502 shares in the last quarter. Finally, First Trust Advisors LP increased its position in shares of Chord Energy by 11.0% during the fourth quarter. First Trust Advisors LP now owns 1,402,359 shares of the company’s stock worth $233,114,000 after acquiring an additional 138,957 shares in the last quarter. Institutional investors 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.