Chord Energy (NASDAQ:CHRD) Price Target Lowered to $180.00 at Royal Bank of Canada

Chord Energy (NASDAQ:CHRD) had its price target reduced by Royal Bank of Canada from $185.00 to $180.00 in a report published on Wednesday morning,Benzinga reports. They currently have an outperform rating on the stock.

CHRD has been the topic of several other research reports. Piper Sandler boosted their price target on Chord Energy from $211.00 to $212.00 and gave the company an “overweight” rating 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. Bank of America boosted their price objective on Chord Energy from $201.00 to $208.00 and gave the stock a “buy” rating in a research note on Wednesday, August 21st. Citigroup reduced their price objective on Chord Energy from $195.00 to $180.00 and set a “buy” rating on the stock in a research note on Monday, August 12th. Finally, Jefferies Financial Group initiated coverage on Chord Energy in a research note on Thursday, September 5th. They issued a “hold” rating and a $160.00 price objective on the stock. Two analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $188.45.

Chord Energy Stock Performance

Shares of NASDAQ CHRD opened at $129.84 on Wednesday. The company has a market cap of $7.94 billion, a P/E ratio of 6.69, a P/E/G ratio of 5.14 and a beta of 0.98. The company has a quick ratio of 0.89, a current ratio of 0.93 and a debt-to-equity ratio of 0.10. Chord Energy has a 12 month low of $123.30 and a 12 month high of $190.23. The business’s 50 day moving average is $131.00 and its two-hundred day moving average is $153.33.

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 analysts’ consensus estimates of $3.63 by ($0.23). The firm had revenue of $1.12 billion for the quarter, compared to the consensus estimate of $1.26 billion. Chord Energy had a net margin of 19.74% and a return on equity of 12.88%. The business’s revenue for the quarter was up 33.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $5.04 earnings per share. On average, equities analysts expect that Chord Energy will post 16.5 EPS for the current year.

Chord Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Wednesday, November 27th will be given a dividend of $1.25 per share. The ex-dividend date of this dividend is Wednesday, November 27th. This represents a $5.00 annualized dividend and a yield of 3.85%. Chord Energy’s dividend payout ratio (DPR) is presently 25.75%.

Insider Transactions at Chord Energy

In other news, Director Samantha Holroyd bought 500 shares of the stock in a transaction dated Friday, August 23rd. The shares were bought at an average price of $149.51 per share, for a total transaction of $74,755.00. Following the completion of the purchase, the director now owns 14,417 shares in the company, valued at approximately $2,155,485.67. This trade represents a 3.59 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.70% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Chord Energy

A number of hedge funds have recently added to or reduced their stakes in the stock. GAMMA Investing LLC increased its stake in shares of 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 purchasing an additional 97 shares during the last quarter. Commerce Bank boosted its holdings in shares of Chord Energy by 4.3% during the 3rd 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% during the 3rd quarter. New York State Teachers Retirement System now owns 27,274 shares of the company’s stock valued at $3,552,000 after acquiring an additional 100 shares in the last quarter. UMB Bank n.a. boosted its holdings in shares of Chord Energy by 77.7% during the 3rd quarter. UMB Bank n.a. now owns 231 shares of the company’s stock valued at $30,000 after acquiring an additional 101 shares in the last quarter. Finally, Lindenwold Advisors INC boosted its holdings in shares of Chord Energy by 5.0% during the 3rd quarter. Lindenwold Advisors INC now owns 2,523 shares of the company’s stock valued at $329,000 after acquiring an additional 119 shares in the last quarter. 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.