Wells Fargo & Company Cuts Chord Energy (NASDAQ:CHRD) Price Target to $175.00

Chord Energy (NASDAQ:CHRD) had its price objective cut by Wells Fargo & Company from $176.00 to $175.00 in a report issued on Wednesday morning,Benzinga reports. They currently have an overweight rating on the stock.

Several other research analysts have also weighed in on the stock. Morgan Stanley started coverage on shares of Chord Energy in a research report on Friday, January 10th. They set an “equal weight” rating and a $158.00 target price on the stock. Mizuho reduced their price target on shares of Chord Energy from $192.00 to $178.00 and set an “outperform” rating on the stock in a report on Monday, December 16th. Wolfe Research raised shares of Chord Energy from a “peer perform” rating to an “outperform” rating and set a $155.00 price target on the stock in a report on Friday, January 3rd. BMO Capital Markets reduced their price target on shares of Chord Energy from $205.00 to $175.00 and set an “outperform” rating on the stock in a report on Friday, October 4th. Finally, 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 report on Monday, December 9th. Three research 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. According to data from MarketBeat.com, Chord Energy has an average rating of “Moderate Buy” and an average price target of $173.08.

Chord Energy Trading Up 0.0 %

Shares of Chord Energy stock opened at $126.31 on Wednesday. The company has a quick ratio of 0.89, a current ratio of 0.93 and a debt-to-equity ratio of 0.10. The company’s 50-day simple moving average is $122.27 and its 200-day simple moving average is $137.90. Chord Energy has a 52-week low of $109.59 and a 52-week high of $190.23. The firm has a market cap of $7.72 billion, a price-to-earnings ratio of 6.50, a price-to-earnings-growth ratio of 5.57 and a beta of 0.99.

Chord Energy (NASDAQ:CHRD) last issued its earnings results on Wednesday, November 6th. The company reported $3.40 earnings per share 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 for the quarter, compared to analyst estimates of $1.26 billion. During the same quarter in the previous year, the company posted $5.04 earnings per share. The company’s quarterly revenue was up 33.4% compared to the same quarter last year. As a group, equities research analysts anticipate that Chord Energy will post 16.33 earnings per share for the current year.

Chord Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Wednesday, November 27th were paid a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a dividend yield of 3.96%. The ex-dividend date was Wednesday, November 27th. Chord Energy’s payout ratio is 25.75%.

Insiders Place Their Bets

In other Chord Energy news, CAO Shannon Browning Kinney sold 1,000 shares of the stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $116.35, for a total transaction of $116,350.00. Following the transaction, the chief accounting officer now owns 19,488 shares of the company’s stock, valued at $2,267,428.80. This trade represents a 4.88 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.70% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Chord Energy

Large investors have recently bought and sold shares of the stock. Victory Capital Management Inc. raised its stake in Chord Energy by 41.3% during the third quarter. Victory Capital Management Inc. now owns 2,245,435 shares of the company’s stock worth $292,423,000 after purchasing an additional 656,374 shares during the period. Geode Capital Management LLC increased its position in shares of Chord Energy by 3.0% in the third quarter. Geode Capital Management LLC now owns 1,162,442 shares of the company’s stock worth $151,077,000 after acquiring an additional 34,156 shares in the last quarter. Bank of Montreal Can increased its position 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 acquiring an additional 52,835 shares in the last quarter. Foundry Partners LLC increased its position 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 acquiring an additional 9,613 shares in the last quarter. Finally, Caxton Associates LP acquired a new stake in shares of Chord Energy in the second quarter worth $2,515,000. Hedge funds and other institutional investors own 97.76% of the company’s stock.

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.