Chord Energy’s (CHRD) “Neutral” Rating Reaffirmed at Bank of America

Bank of America reiterated their neutral rating on shares of Chord Energy (NASDAQ:CHRD) in a research note issued to investors on Monday, Marketbeat.com reports. The firm currently has a $138.00 price target on the stock, down from their previous price target of $208.00.

Other equities analysts have also recently issued research reports about the company. Wells Fargo & Company raised their price target on Chord Energy from $175.00 to $176.00 and gave the company an “overweight” rating in a report on Tuesday, December 17th. BMO Capital Markets reduced their price target on Chord Energy from $205.00 to $175.00 and set an “outperform” rating for the company in a research report on Friday, October 4th. Morgan Stanley started coverage on Chord Energy in a research note on Friday. They set an “equal weight” rating and a $158.00 price target on the stock. Siebert Williams Shank upgraded Chord Energy to a “strong-buy” rating in a research note on Tuesday, October 15th. Finally, Mizuho lowered their target price 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. Three analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Chord Energy has an average rating of “Moderate Buy” and a consensus target price of $173.23.

Chord Energy Price Performance

CHRD opened at $125.76 on Monday. The stock has a fifty day simple moving average of $122.59 and a two-hundred day simple moving average of $138.94. The company has a current ratio of 0.93, a quick ratio of 0.89 and a debt-to-equity ratio of 0.10. The company has a market cap of $7.69 billion, a price-to-earnings ratio of 6.48, a price-to-earnings-growth ratio of 4.79 and a beta of 0.99. Chord Energy has a 12-month low of $109.59 and a 12-month high of $190.23.

Chord Energy (NASDAQ:CHRD) last released 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). The business had revenue of $1.12 billion for the quarter, compared to analysts’ expectations of $1.26 billion. Chord Energy had a net margin of 19.74% and a return on equity of 12.88%. The company’s quarterly revenue was up 33.4% on a year-over-year basis. During the same period last year, the business earned $5.04 earnings per share. Research analysts predict that Chord Energy will post 16.5 earnings per share for the current fiscal year.

Chord Energy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Stockholders 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 dividend yield of 3.98%. The ex-dividend date was Wednesday, November 27th. Chord Energy’s dividend payout ratio (DPR) is currently 25.75%.

Insider Transactions at Chord Energy

In other Chord Energy news, CAO Shannon Browning Kinney sold 1,000 shares of Chord Energy stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $116.35, for a total value of $116,350.00. Following the sale, the chief accounting officer now owns 19,488 shares of the company’s stock, valued at approximately $2,267,428.80. The trade was a 4.88 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.70% of the company’s stock.

Institutional Investors Weigh In On Chord Energy

Institutional investors have recently modified their holdings of the company. Victory Capital Management Inc. boosted its stake in Chord Energy by 41.3% during the 3rd quarter. Victory Capital Management Inc. now owns 2,245,435 shares of the company’s stock valued at $292,423,000 after acquiring an additional 656,374 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Chord Energy by 3.0% in the 3rd 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. Bank of Montreal Can boosted its holdings in shares of Chord Energy by 956.5% in the second quarter. Bank of Montreal Can now owns 58,359 shares of the company’s stock worth $9,873,000 after buying an additional 52,835 shares during the period. Foundry Partners LLC boosted its holdings in shares of Chord Energy by 22.7% in the third quarter. Foundry Partners LLC now owns 52,009 shares of the company’s stock worth $6,773,000 after buying an additional 9,613 shares during the period. Finally, Caxton Associates LP acquired a new stake in shares of Chord Energy during the second quarter worth approximately $2,515,000. Hedge funds and other 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.