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

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

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

Chord Energy Stock Up 1.2 %

NASDAQ:CHRD opened at $182.10 on Friday. The firm has a market cap of $7.56 billion, a P/E ratio of 7.74 and a beta of 1.06. 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 fifty-two week low of $133.34 and a fifty-two week high of $190.23. The firm has a 50-day simple moving average of $170.56 and a two-hundred day simple moving average of $164.66.

Chord Energy (NASDAQ:CHRD) last released its quarterly earnings data on Wednesday, February 21st. The company reported $5.25 earnings per share for the quarter, beating analysts’ consensus estimates of $5.04 by $0.21. The business had revenue of $964.69 million during the quarter, compared to analyst estimates of $891.67 million. Chord Energy had a net margin of 26.27% and a return on equity of 16.35%. Analysts predict that Chord Energy will post 21.6 earnings per share for the current fiscal year.

Chord Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 19th. Investors of record on Tuesday, March 5th were issued a $3.25 dividend. This is an increase from Chord Energy’s previous quarterly dividend of $1.25. The ex-dividend date was Monday, March 4th. This represents a $13.00 dividend on an annualized basis and a dividend yield of 7.14%. Chord Energy’s dividend payout ratio (DPR) is presently 21.25%.

Insider Buying and Selling

In related news, CFO Michael H. Lou sold 3,000 shares of the firm’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 owns 128,209 shares of the company’s stock, valued at $21,154,485. The transaction 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 institutional investors and hedge funds have recently made changes to their positions in the business. Rise Advisors LLC purchased a new position in Chord Energy during the first quarter valued at approximately $31,000. Contravisory Investment Management Inc. lifted its holdings in Chord Energy by 48.9% during the fourth quarter. Contravisory Investment Management Inc. now owns 259 shares of the company’s stock valued at $43,000 after purchasing an additional 85 shares in the last quarter. SRS Capital Advisors Inc. lifted its holdings in Chord Energy by 306.9% during the fourth quarter. SRS Capital Advisors Inc. now owns 293 shares of the company’s stock valued at $49,000 after purchasing an additional 221 shares in the last quarter. Lindbrook Capital LLC raised its position in shares of Chord Energy by 67.6% during the fourth quarter. Lindbrook Capital LLC now owns 305 shares of the company’s stock valued at $51,000 after buying an additional 123 shares during the last quarter. Finally, Viking Fund Management LLC raised its position in shares of Chord Energy by 40.0% during the fourth quarter. Viking Fund Management LLC now owns 350 shares of the company’s stock valued at $58,000 after buying an additional 100 shares during the last quarter. Hedge funds and other institutional investors 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.