Chord Energy (NASDAQ:CHRD) Given New $230.00 Price Target at Piper Sandler

Chord Energy (NASDAQ:CHRD) had its price objective increased by Piper Sandler from $219.00 to $230.00 in a report published on Friday, Benzinga reports. The firm currently has an overweight rating on the stock.

CHRD has been the subject of a number of other research reports. Truist Financial cut their price objective on Chord Energy from $229.00 to $224.00 and set a buy rating for the company in a research report on Friday, April 5th. Stifel Nicolaus raised their price objective on Chord Energy from $178.00 to $211.00 and gave the company a buy rating in a research report on Tuesday, February 27th. Bank of America lowered Chord Energy from a buy rating to an underperform rating and cut their price objective for the company from $177.00 to $165.00 in a research report on Friday, January 5th. Finally, Mizuho raised their price objective on Chord Energy from $189.00 to $195.00 and gave the company a buy rating in a research report on Thursday, March 14th. One analyst has rated the stock with a sell rating, one has issued a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, Chord Energy presently has an average rating of Moderate Buy and an average target price of $191.50.

Chord Energy Trading Up 0.8 %

Shares of CHRD stock opened at $180.00 on Friday. Chord Energy has a 52-week low of $133.34 and a 52-week high of $190.23. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.16 and a current ratio of 1.22. The firm has a market capitalization of $7.48 billion, a PE ratio of 7.65 and a beta of 1.06. The stock has a fifty day simple moving average of $170.56 and a two-hundred day simple moving average of $164.54.

Chord Energy (NASDAQ:CHRD) last issued its quarterly earnings results on Wednesday, February 21st. The company reported $5.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.04 by $0.21. Chord Energy had a return on equity of 16.35% and a net margin of 26.27%. The business had revenue of $964.69 million during the quarter, compared to analyst estimates of $891.67 million. On average, analysts predict that Chord Energy will post 21.71 EPS for the current fiscal year.

Chord Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 19th. Shareholders of record on Tuesday, March 5th were paid a $3.25 dividend. The ex-dividend date of this dividend was Monday, March 4th. This represents a $13.00 annualized dividend and a yield of 7.22%. This is an increase from Chord Energy’s previous quarterly dividend of $1.25. Chord Energy’s dividend payout ratio (DPR) is presently 21.25%.

Insiders Place Their Bets

In other news, CFO Michael H. Lou sold 3,000 shares of Chord Energy stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $165.00, for a total transaction of $495,000.00. Following the completion of the sale, the chief financial officer now owns 128,209 shares of the company’s stock, valued at $21,154,485. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.70% of the stock is owned by insiders.

Institutional Trading of Chord Energy

Several institutional investors and hedge funds have recently modified their holdings of the stock. Commonwealth Equity Services LLC raised its stake in shares of Chord Energy by 0.6% during the third quarter. Commonwealth Equity Services LLC now owns 12,246 shares of the company’s stock valued at $1,985,000 after acquiring an additional 67 shares in the last quarter. Fifth Third Bancorp increased its holdings in Chord Energy by 15.4% during the third quarter. Fifth Third Bancorp now owns 526 shares of the company’s stock valued at $85,000 after buying an additional 70 shares during the period. State Board of Administration of Florida Retirement System increased its holdings in Chord Energy by 0.6% during the third quarter. State Board of Administration of Florida Retirement System now owns 11,956 shares of the company’s stock valued at $1,938,000 after buying an additional 70 shares during the period. Xponance Inc. increased its holdings in Chord Energy by 1.3% during the fourth quarter. Xponance Inc. now owns 6,070 shares of the company’s stock valued at $1,009,000 after buying an additional 77 shares during the period. Finally, Contravisory Investment Management Inc. increased its holdings in Chord Energy by 48.9% during the fourth quarter. Contravisory Investment Management Inc. now owns 259 shares of the company’s stock valued at $43,000 after buying an additional 85 shares during the period. 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.