Bank of America Lowers Chord Energy (NASDAQ:CHRD) Price Target to $125.00

Chord Energy (NASDAQ:CHRD) had its price target trimmed by Bank of America from $138.00 to $125.00 in a research report report published on Tuesday,Benzinga reports. The firm currently has a neutral rating on the stock.

CHRD has been the topic of a number of other research reports. Mizuho cut their price target on Chord Energy from $192.00 to $178.00 and set an “outperform” rating on the stock in a research note on Monday, December 16th. Williams Trading set a $155.00 price objective on shares of Chord Energy in a research note on Wednesday, March 5th. UBS Group reduced their price target on shares of Chord Energy from $168.00 to $161.00 and set a “buy” rating on the stock in a research report on Monday, December 9th. Piper Sandler lowered their price objective on shares of Chord Energy from $193.00 to $184.00 and set an “overweight” rating for the company in a research report on Thursday, March 6th. Finally, Wells Fargo & Company lowered their price target on Chord Energy from $175.00 to $166.00 and set an “overweight” rating for the company in a report on Monday, March 24th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $161.46.

Chord Energy Stock Down 12.4 %

NASDAQ:CHRD opened at $99.48 on Tuesday. The stock’s fifty day moving average price is $110.43 and its two-hundred day moving average price is $120.66. The company has a market cap of $5.92 billion, a price-to-earnings ratio of 5.12, a P/E/G ratio of 5.83 and a beta of 0.98. Chord Energy has a 52-week low of $98.71 and a 52-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 Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 26th. Stockholders of record on Tuesday, March 11th were paid a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a dividend yield of 5.23%. This is an increase from Chord Energy’s previous quarterly dividend of $1.25. The ex-dividend date of this dividend was Tuesday, March 11th. Chord Energy’s dividend payout ratio is currently 32.62%.

Institutional Trading of Chord Energy

Institutional investors and hedge funds have recently bought and sold shares of the stock. Natixis Advisors LLC acquired a new position in Chord Energy during the fourth quarter worth $1,191,000. Merit Financial Group LLC acquired a new stake in Chord Energy in the 4th quarter valued at about $553,000. Geode Capital Management LLC increased its position 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 buying an additional 34,156 shares during the last quarter. Kingsview Wealth Management LLC lifted its position in shares of Chord Energy by 55.3% in the fourth quarter. Kingsview Wealth Management LLC now owns 21,744 shares of the company’s stock valued at $2,542,000 after buying an additional 7,743 shares during the last quarter. Finally, Arkfeld Wealth Strategies L.L.C. increased its holdings in shares of Chord Energy by 3.5% during the 4th quarter. Arkfeld Wealth Strategies L.L.C. now owns 92,211 shares of the company’s stock worth $11,596,000 after acquiring an additional 3,151 shares during 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.