Chord Energy (NASDAQ:CHRD) Stock Price Expected to Rise, Piper Sandler Analyst Says

Chord Energy (NASDAQ:CHRD) had its target price hoisted by Piper Sandler from $211.00 to $212.00 in a research note published on Monday,Benzinga reports. They currently have an overweight rating on the stock.

A number of other research analysts have also weighed in on CHRD. Bank of America raised their price objective on Chord Energy from $201.00 to $208.00 and gave the company a “buy” rating in a research report on Wednesday, August 21st. BMO Capital Markets dropped their target price on Chord Energy from $205.00 to $175.00 and set an “outperform” rating for the company in a report on Friday, October 4th. Wells Fargo & Company cut their target price on Chord Energy from $185.00 to $180.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 16th. Jefferies Financial Group began coverage on shares of Chord Energy in a research report on Thursday, September 5th. They set a “hold” rating and a $160.00 price objective on the stock. Finally, Truist Financial lowered their target price on shares of Chord Energy from $223.00 to $185.00 and set a “buy” rating for the company in a report on Monday, September 30th. Two investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Chord Energy has a consensus rating of “Moderate Buy” and an average target price of $188.45.

Chord Energy Stock Up 1.5 %

CHRD stock opened at $129.84 on Monday. The business’s 50-day moving average is $131.00 and its two-hundred day moving average is $153.33. The company has a market cap of $7.94 billion, a price-to-earnings ratio of 6.69, a P/E/G ratio of 5.02 and a beta of 0.98. Chord Energy has a fifty-two week low of $123.30 and a fifty-two week high of $190.23. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.89 and a current ratio of 0.93.

Chord Energy (NASDAQ:CHRD) last posted its quarterly earnings data on Wednesday, November 6th. The company reported $3.40 EPS for the quarter, missing the consensus estimate of $3.63 by ($0.23). Chord Energy had a return on equity of 12.88% and a net margin of 19.74%. The company had revenue of $1.12 billion during the quarter, compared to the consensus estimate of $1.26 billion. During the same period last year, the business earned $5.04 EPS. The firm’s quarterly revenue was up 33.4% compared to the same quarter last year. As a group, analysts forecast that Chord Energy will post 16.8 earnings per share for the current year.

Chord Energy Dividend Announcement

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

Insider Activity

In other news, Director Samantha Holroyd acquired 500 shares of the company’s stock in a transaction on Friday, August 23rd. The shares were bought at an average cost of $149.51 per share, with a total value of $74,755.00. Following the transaction, 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 position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.70% of the company’s stock.

Institutional Trading of Chord Energy

Several institutional investors and hedge funds have recently made changes to their positions in CHRD. TCW Group Inc. lifted its stake in shares of Chord Energy by 11.7% in the 3rd quarter. TCW Group Inc. now owns 33,540 shares of the company’s stock worth $4,368,000 after acquiring an additional 3,500 shares during the period. TD Private Client Wealth LLC lifted its stake in shares of Chord Energy by 18.3% in the third quarter. TD Private Client Wealth LLC now owns 1,631 shares of the company’s stock valued at $212,000 after purchasing an additional 252 shares during the period. Fortem Financial Group LLC increased its stake in Chord Energy by 9.1% in the 3rd quarter. Fortem Financial Group LLC now owns 6,719 shares of the company’s stock valued at $875,000 after purchasing an additional 559 shares in the last quarter. Geode Capital Management LLC raised its holdings in Chord Energy by 3.0% during the third quarter. Geode Capital Management LLC now owns 1,162,442 shares of the company’s stock worth $151,077,000 after purchasing an additional 34,156 shares during the last quarter. Finally, Barclays PLC grew its holdings in Chord Energy by 3.7% in the third quarter. Barclays PLC now owns 64,711 shares of the company’s stock valued at $8,427,000 after purchasing an additional 2,318 shares during the last quarter. 97.76% of the stock is owned by hedge funds and other institutional investors.

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.