Piper Sandler Issues Positive Forecast for Chord Energy (NASDAQ:CHRD) Stock Price

Chord Energy (NASDAQ:CHRD) had its price target hoisted by Piper Sandler from $158.00 to $190.00 in a research note issued to investors on Thursday morning,Benzinga reports. Piper Sandler currently has an overweight rating on the stock.

Several other brokerages also recently commented on CHRD. Morgan Stanley lowered their target price on shares of Chord Energy from $123.00 to $114.00 and set an “equal weight” rating for the company in a report on Friday, January 23rd. Scotiabank reaffirmed a “sector perform” rating and issued a $114.00 price objective on shares of Chord Energy in a research report on Friday, January 16th. Wells Fargo & Company decreased their price objective on shares of Chord Energy from $113.00 to $109.00 and set an “overweight” rating for the company in a research note on Tuesday, January 27th. William Blair initiated coverage on shares of Chord Energy in a research report on Friday, November 21st. They set an “outperform” rating on the stock. Finally, Pickering Energy Partners downgraded Chord Energy from an “outperform” rating to a “neutral” rating in a research note on Friday, January 9th. Eight equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $128.82.

Chord Energy Trading Down 1.5%

Shares of Chord Energy stock opened at $122.98 on Thursday. The company has a market capitalization of $6.99 billion, a P/E ratio of 195.21 and a beta of 0.84. The stock has a fifty day simple moving average of $101.82 and a 200 day simple moving average of $98.15. Chord Energy has a 12-month low of $79.83 and a 12-month high of $127.56. The company has a current ratio of 1.06, a quick ratio of 0.98 and a debt-to-equity ratio of 0.18.

Chord Energy (NASDAQ:CHRD) last issued its quarterly earnings data on Wednesday, February 25th. The company reported $1.28 earnings per share for the quarter, beating the consensus estimate of $1.17 by $0.11. The business had revenue of $1.17 billion for the quarter, compared to analysts’ expectations of $1.03 billion. Chord Energy had a return on equity of 6.71% and a net margin of 0.91%.The business’s revenue was down 19.6% on a year-over-year basis. During the same period last year, the business earned $3.49 EPS. On average, sell-side analysts anticipate that Chord Energy will post 15.59 earnings per share for the current fiscal year.

Chord Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 27th. Shareholders of record on Thursday, March 12th will be given a $1.30 dividend. The ex-dividend date of this dividend is Thursday, March 12th. This represents a $5.20 annualized dividend and a yield of 4.2%. Chord Energy’s payout ratio is currently 825.40%.

Insider Buying and Selling at Chord Energy

In other Chord Energy news, Director Douglas E. Brooks sold 2,126 shares of the business’s stock in a transaction dated Friday, March 6th. The shares were sold at an average price of $120.28, for a total value of $255,715.28. Following the transaction, the director directly owned 25,181 shares in the company, valued at $3,028,770.68. The trade was a 7.79% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Lara J. Kroll sold 5,000 shares of the stock in a transaction that occurred on Tuesday, March 3rd. The shares were sold at an average price of $113.66, for a total transaction of $568,300.00. Following the transaction, the chief accounting officer directly owned 8,921 shares of the company’s stock, valued at $1,013,960.86. This represents a 35.92% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 8,927 shares of company stock worth $1,029,978 over the last three months. 0.70% of the stock is currently owned by insiders.

Institutional Trading of Chord Energy

Hedge funds have recently made changes to their positions in the company. Hsbc Holdings PLC lifted its position in shares of Chord Energy by 169.1% during the 4th quarter. Hsbc Holdings PLC now owns 164,220 shares of the company’s stock valued at $15,138,000 after buying an additional 103,202 shares during the last quarter. Sankala Group LLC purchased a new stake in Chord Energy in the 4th quarter worth about $57,000. MidFirst Bank bought a new stake in Chord Energy in the 4th quarter valued at about $115,000. Invesco Ltd. raised its stake in Chord Energy by 23.6% in the 4th quarter. Invesco Ltd. now owns 318,448 shares of the company’s stock valued at $29,520,000 after acquiring an additional 60,806 shares during the period. Finally, Alberta Investment Management Corp purchased a new stake in Chord Energy during the fourth quarter valued at about $1,381,000. 97.76% of the stock is currently owned by institutional investors.

Chord Energy Company Profile

Chord Energy Corporation (NASDAQ: CHRD), formerly known as Oasis Petroleum Inc, is an independent exploration and production company focused on the acquisition, development and production of crude oil, natural gas and natural gas liquids. Headquartered in Houston, Texas, Chord Energy emerged from financial restructuring in early 2021 and rebranded in October 2022 to reflect its renewed strategic vision.

The company’s core operations are concentrated in two prolific U.S. resource plays: the Williston Basin across North Dakota and Montana, and the Delaware Basin spanning parts of West Texas and southeastern New Mexico.