Piper Sandler Cuts Chord Energy (NASDAQ:CHRD) Price Target to $194.00

Chord Energy (NASDAQ:CHRD) had its price objective lowered by Piper Sandler from $212.00 to $194.00 in a report published on Tuesday,Benzinga reports. The firm currently has an overweight rating on the stock.

Several other analysts have also recently commented on CHRD. Truist Financial decreased their price target on shares of Chord Energy from $223.00 to $185.00 and set a “buy” rating on the stock in a research note on Monday, September 30th. Mizuho dropped their price target on Chord Energy from $192.00 to $178.00 and set an “outperform” rating for the company in a research note on Monday. Siebert Williams Shank raised Chord Energy to a “strong-buy” rating in a research note on Tuesday, October 15th. Wells Fargo & Company upped their price objective on Chord Energy from $175.00 to $176.00 and gave the stock an “overweight” rating in a report on Tuesday. Finally, Bank of America raised their target price on shares of Chord Energy from $201.00 to $208.00 and gave the company a “buy” rating in a report on Wednesday, August 21st. Two investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $182.55.

Chord Energy Stock Performance

NASDAQ:CHRD opened at $110.41 on Tuesday. The stock has a 50-day moving average price of $126.65 and a 200 day moving average price of $145.30. The stock has a market capitalization of $6.75 billion, a P/E ratio of 5.69, a P/E/G ratio of 4.79 and a beta of 0.96. Chord Energy has a 12-month low of $110.23 and a 12-month high of $190.23. The company has a current ratio of 0.93, a quick ratio of 0.89 and a debt-to-equity ratio of 0.10.

Chord Energy (NASDAQ:CHRD) last released its quarterly earnings data on Wednesday, November 6th. The company reported $3.40 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.63 by ($0.23). Chord Energy had a net margin of 19.74% and a return on equity of 12.88%. The company had revenue of $1.12 billion for the quarter, compared to the consensus estimate of $1.26 billion. During the same quarter in the previous year, the business earned $5.04 EPS. The company’s quarterly revenue was up 33.4% on a year-over-year basis. Equities research analysts forecast that Chord Energy will post 16.5 EPS for the current fiscal year.

Chord Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Wednesday, November 27th were given a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a yield of 4.53%. The ex-dividend date of this dividend was Wednesday, November 27th. Chord Energy’s dividend payout ratio (DPR) is 25.75%.

Insider Transactions at Chord Energy

In related news, CAO Shannon Browning Kinney sold 1,000 shares of the firm’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $116.35, for a total transaction of $116,350.00. Following the completion of the sale, the chief accounting officer now directly owns 19,488 shares of the company’s stock, valued at approximately $2,267,428.80. This trade represents a 4.88 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.70% of the company’s stock.

Institutional Trading of Chord Energy

A number of large investors have recently made changes to their positions in CHRD. GAMMA Investing LLC boosted its position in Chord Energy by 30.6% in the 3rd quarter. GAMMA Investing LLC now owns 414 shares of the company’s stock valued at $54,000 after buying an additional 97 shares during the period. Commerce Bank raised its stake in shares of Chord Energy by 4.3% during the third quarter. Commerce Bank now owns 2,361 shares of the company’s stock valued at $307,000 after acquiring an additional 98 shares in the last quarter. New York State Teachers Retirement System boosted its holdings in shares of Chord Energy by 0.4% in the third quarter. New York State Teachers Retirement System now owns 27,274 shares of the company’s stock valued at $3,552,000 after purchasing an additional 100 shares during the period. UMB Bank n.a. grew its stake in Chord Energy by 77.7% in the third quarter. UMB Bank n.a. now owns 231 shares of the company’s stock worth $30,000 after purchasing an additional 101 shares in the last quarter. Finally, Lindenwold Advisors INC increased its holdings in Chord Energy by 5.0% during the 3rd quarter. Lindenwold Advisors INC now owns 2,523 shares of the company’s stock worth $329,000 after purchasing an additional 119 shares during the period. 97.76% of the stock is owned by hedge funds and other institutional investors.

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.