Chord Energy (NASDAQ:CHRD) Given New $230.00 Price Target at Piper Sandler

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

Several other brokerages have also recently issued reports on CHRD. Stifel Nicolaus upped 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. Bank of America cut shares of Chord Energy from a buy rating to an underperform rating and dropped their price target for the company from $177.00 to $165.00 in a research note on Friday, January 5th. Mizuho increased their price target 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. Finally, Truist Financial dropped their price target on shares of Chord Energy from $229.00 to $224.00 and set a buy rating for the company in a research note on Friday, April 5th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, Chord Energy currently has an average rating of Moderate Buy and an average price target of $191.50.

Chord Energy Stock Up 0.8 %

Shares of NASDAQ CHRD opened at $180.00 on Friday. Chord Energy has a 12-month low of $133.34 and a 12-month high of $190.23. The stock has a market cap of $7.48 billion, a PE ratio of 7.65 and a beta of 1.06. The company has a current ratio of 1.22, a quick ratio of 1.16 and a debt-to-equity ratio of 0.08. The company has a 50-day moving average of $170.56 and a 200 day moving average of $164.54.

Chord Energy (NASDAQ:CHRD) last announced its quarterly earnings data on Wednesday, February 21st. The company reported $5.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.04 by $0.21. Chord Energy had a net margin of 26.27% and a return on equity of 16.35%. The company had revenue of $964.69 million during the quarter, compared to analysts’ expectations of $891.67 million. As a group, sell-side analysts predict that Chord Energy will post 21.71 EPS for the current fiscal year.

Chord Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 19th. Stockholders of record on Tuesday, March 5th were issued a $3.25 dividend. This is a positive change from Chord Energy’s previous quarterly dividend of $1.25. This represents a $13.00 annualized dividend and a dividend yield of 7.22%. The ex-dividend date was Monday, March 4th. Chord Energy’s dividend payout ratio is currently 21.25%.

Insider Transactions at Chord Energy

In other news, CFO Michael H. Lou sold 3,000 shares of the company’s stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $165.00, for a total value 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 document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.70% of the company’s stock.

Hedge Funds Weigh In On Chord Energy

Large investors have recently made changes to their positions in the stock. Vest Financial LLC lifted its holdings in Chord Energy by 36.0% during the 4th quarter. Vest Financial LLC now owns 79,293 shares of the company’s stock worth $13,181,000 after buying an additional 20,995 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in Chord Energy by 12.3% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 491,737 shares of the company’s stock worth $81,742,000 after buying an additional 53,992 shares in the last quarter. Natixis Advisors L.P. lifted its holdings in Chord Energy by 68.5% during the 3rd quarter. Natixis Advisors L.P. now owns 38,458 shares of the company’s stock worth $6,233,000 after buying an additional 15,632 shares in the last quarter. Vanguard Group Inc. lifted its holdings in Chord Energy by 0.5% during the 3rd quarter. Vanguard Group Inc. now owns 4,351,393 shares of the company’s stock worth $705,230,000 after buying an additional 21,034 shares in the last quarter. Finally, Invesco Ltd. lifted its holdings in Chord Energy by 7.9% during the 3rd quarter. Invesco Ltd. now owns 444,627 shares of the company’s stock worth $72,061,000 after buying an additional 32,429 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.