Mizuho Cuts Chord Energy (NASDAQ:CHRD) Price Target to $142.00

Chord Energy (NASDAQ:CHRD) had its price objective reduced by Mizuho from $152.00 to $142.00 in a report issued on Monday,Benzinga reports. Mizuho currently has an outperform rating on the stock.

Several other brokerages also recently issued reports on CHRD. Wells Fargo & Company raised their price objective on shares of Chord Energy from $143.00 to $146.00 and gave the stock an “overweight” rating in a research report on Friday, August 15th. Piper Sandler raised their price objective on shares of Chord Energy from $164.00 to $166.00 and gave the stock an “overweight” rating in a research report on Thursday, August 14th. Wall Street Zen downgraded shares of Chord Energy from a “hold” rating to a “sell” rating in a research report on Friday, July 18th. Citigroup raised their price objective on shares of Chord Energy from $120.00 to $125.00 and gave the stock a “buy” rating in a research report on Wednesday, July 9th. Finally, UBS Group raised their price objective on shares of Chord Energy from $120.00 to $122.00 and gave the stock a “buy” rating in a research report on Wednesday, August 20th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $149.42.

Chord Energy Trading Down 1.0%

Chord Energy stock opened at $105.35 on Monday. Chord Energy has a 52 week low of $79.83 and a 52 week high of $140.15. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.90 and a current ratio of 0.97. The stock has a market capitalization of $6.03 billion, a P/E ratio of 26.81 and a beta of 0.97. The stock has a 50-day simple moving average of $105.84 and a 200 day simple moving average of $101.07.

Chord Energy (NASDAQ:CHRD) last posted its quarterly earnings results on Wednesday, August 6th. The company reported $1.79 EPS for the quarter, missing analysts’ consensus estimates of $1.88 by ($0.09). Chord Energy had a return on equity of 9.02% and a net margin of 5.02%.The business had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $984.07 million. During the same quarter in the previous year, the business posted $4.69 EPS. The company’s revenue for the quarter was up 5.3% on a year-over-year basis. Analysts expect that Chord Energy will post 15.59 earnings per share for the current year.

Chord Energy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, September 8th. Shareholders of record on Thursday, August 21st were paid a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.9%. The ex-dividend date of this dividend was Thursday, August 21st. Chord Energy’s payout ratio is presently 132.32%.

Insider Buying and Selling at Chord Energy

In other Chord Energy news, EVP Shannon Browning Kinney sold 3,019 shares of the business’s stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $105.43, for a total transaction of $318,293.17. Following the sale, the executive vice president owned 14,650 shares of the company’s stock, valued at approximately $1,544,549.50. The trade was a 17.09% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 0.70% of the company’s stock.

Institutional Trading of Chord Energy

A number of hedge funds and other institutional investors have recently modified their holdings of CHRD. Orion Porfolio Solutions LLC grew its stake in shares of Chord Energy by 6,714.2% in the second quarter. Orion Porfolio Solutions LLC now owns 709,086 shares of the company’s stock worth $68,675,000 after purchasing an additional 698,680 shares during the last quarter. AQR Capital Management LLC boosted its position in Chord Energy by 210.5% during the second quarter. AQR Capital Management LLC now owns 734,225 shares of the company’s stock valued at $71,110,000 after acquiring an additional 497,789 shares during the last quarter. Nuveen LLC acquired a new position in shares of Chord Energy during the first quarter valued at about $36,837,000. Squarepoint Ops LLC raised its holdings in shares of Chord Energy by 365.5% during the fourth quarter. Squarepoint Ops LLC now owns 337,284 shares of the company’s stock valued at $39,435,000 after purchasing an additional 264,828 shares during the period. Finally, Sourcerock Group LLC raised its holdings in shares of Chord Energy by 214.9% during the fourth quarter. Sourcerock Group LLC now owns 314,870 shares of the company’s stock valued at $36,815,000 after purchasing an additional 214,870 shares during the period. 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.