Chord Energy (NASDAQ:CHRD) Price Target Increased to $200.00 by Analysts at Royal Bank of Canada

Chord Energy (NASDAQ:CHRD) had its price target increased by Royal Bank of Canada from $180.00 to $200.00 in a research report report published on Monday, Benzinga reports. Royal Bank of Canada currently has an outperform rating on the stock.

Several other equities research analysts have also commented on CHRD. Bank of America lowered shares of Chord Energy from a buy rating to an underperform rating and lowered their price target for the company from $177.00 to $165.00 in a report on Friday, January 5th. Truist Financial dropped their target price on Chord Energy from $229.00 to $224.00 and set a buy rating on the stock in a report on Friday, April 5th. Stifel Nicolaus upped their price objective on Chord Energy from $178.00 to $211.00 and gave the stock a buy rating in a research report on Tuesday, February 27th. Piper Sandler lifted their target price on shares of Chord Energy from $219.00 to $230.00 and gave the company an overweight rating in a report on Friday, April 19th. Finally, Mizuho increased their price target on shares of Chord Energy from $189.00 to $195.00 and gave the stock a buy rating in a report on Thursday, March 14th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and seven have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of Moderate Buy and an average price target of $193.50.

Chord Energy Stock Down 0.7 %

Shares of CHRD stock opened at $184.34 on Monday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.16 and a current ratio of 1.22. Chord Energy has a fifty-two week low of $133.34 and a fifty-two week high of $190.23. The firm has a market capitalization of $7.66 billion, a PE ratio of 7.83 and a beta of 1.06. The stock’s 50-day simple moving average is $173.39 and its 200-day simple moving average is $165.64.

Chord Energy (NASDAQ:CHRD) last posted 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. The company had revenue of $964.69 million during the quarter, compared to analyst estimates of $891.67 million. Chord Energy had a net margin of 26.27% and a return on equity of 16.35%. Equities analysts expect that Chord Energy will post 22.03 earnings per share for the current year.

Chord Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 19th. Shareholders of record on Tuesday, March 5th were given a dividend of $3.25 per share. The ex-dividend date of this dividend was Monday, March 4th. This is a boost from Chord Energy’s previous quarterly dividend of $1.25. This represents a $13.00 dividend on an annualized basis and a yield of 7.05%. Chord Energy’s dividend payout ratio is currently 21.25%.

Insider Activity

In related news, CFO Michael H. Lou sold 3,000 shares of the company’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $154.15, for a total transaction of $462,450.00. Following the completion of the transaction, the chief financial officer now owns 131,209 shares in the company, valued at approximately $20,225,867.35. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.70% of the company’s stock.

Institutional Trading of Chord Energy

Large investors have recently made changes to their positions in the company. Rise Advisors LLC acquired a new stake in Chord Energy during the 1st quarter worth $31,000. Contravisory Investment Management Inc. boosted its position in Chord Energy by 48.9% during the fourth quarter. Contravisory Investment Management Inc. now owns 259 shares of the company’s stock worth $43,000 after acquiring an additional 85 shares during the last quarter. SRS Capital Advisors Inc. grew its stake in Chord Energy by 306.9% during the 4th quarter. SRS Capital Advisors Inc. now owns 293 shares of the company’s stock valued at $49,000 after acquiring an additional 221 shares in the last quarter. Lindbrook Capital LLC raised its holdings in Chord Energy by 67.6% in the 4th quarter. Lindbrook Capital LLC now owns 305 shares of the company’s stock valued at $51,000 after acquiring an additional 123 shares during the last quarter. Finally, Viking Fund Management LLC lifted its stake in Chord Energy by 40.0% in the 4th quarter. Viking Fund Management LLC now owns 350 shares of the company’s stock worth $58,000 after purchasing an additional 100 shares in the last quarter. 97.76% of the stock is currently owned by hedge funds and other institutional investors.

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.