Wells Fargo & Company Cuts Chord Energy (NASDAQ:CHRD) Price Target to $166.00

Chord Energy (NASDAQ:CHRD) had its price target reduced by Wells Fargo & Company from $175.00 to $166.00 in a research note released on Monday morning,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the stock.

Several other equities research analysts also recently weighed in on CHRD. Wolfe Research raised Chord Energy from a “peer perform” rating to an “outperform” rating and set a $155.00 price objective on the stock in a report on Friday, January 3rd. UBS Group reduced their price target on Chord Energy from $168.00 to $161.00 and set a “buy” rating on the stock in a report on Monday, December 9th. Truist Financial lifted their target price on shares of Chord Energy from $185.00 to $186.00 and gave the stock a “buy” rating in a research report on Monday, January 13th. Piper Sandler dropped their price target on shares of Chord Energy from $193.00 to $184.00 and set an “overweight” rating for the company in a research note on Thursday, March 6th. Finally, Williams Trading set a $155.00 price target on Chord Energy in a research note on Wednesday, March 5th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $162.46.

Chord Energy Trading Up 1.0 %

CHRD opened at $113.68 on Monday. The company has a market cap of $6.78 billion, a P/E ratio of 5.85, a PEG ratio of 5.83 and a beta of 0.98. 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’s 50 day moving average is $112.38 and its 200-day moving average is $121.58. Chord Energy has a 1-year low of $99.40 and a 1-year high of $190.23.

Chord Energy Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 26th. Stockholders of record on Tuesday, March 11th were paid a $1.30 dividend. The ex-dividend date was Tuesday, March 11th. This is an increase from Chord Energy’s previous quarterly dividend of $1.25. This represents a $5.20 annualized dividend and a dividend yield of 4.57%. Chord Energy’s dividend payout ratio (DPR) is currently 32.62%.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of CHRD. Delta Capital Management LLC boosted its holdings in Chord Energy by 4.3% during the 4th quarter. Delta Capital Management LLC now owns 2,200 shares of the company’s stock worth $257,000 after acquiring an additional 90 shares during the last quarter. Commerce Bank increased its stake in shares of Chord Energy by 4.3% during the 3rd quarter. Commerce Bank now owns 2,361 shares of the company’s stock worth $307,000 after purchasing an additional 98 shares during the last quarter. Gables Capital Management Inc. increased its position in Chord Energy by 6.9% in the fourth quarter. Gables Capital Management Inc. now owns 1,550 shares of the company’s stock worth $181,000 after buying an additional 100 shares during the last quarter. Envestnet Portfolio Solutions Inc. raised its stake in shares of Chord Energy by 2.9% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 3,710 shares of the company’s stock valued at $434,000 after buying an additional 106 shares during the period. Finally, Exchange Traded Concepts LLC raised its stake in shares of Chord Energy by 1.8% in the fourth quarter. Exchange Traded Concepts LLC now owns 6,145 shares of the company’s stock valued at $718,000 after buying an additional 110 shares during the period. Institutional investors and hedge funds 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.