Chord Energy (NASDAQ:CHRD) Price Target Lowered to $161.00 at UBS Group

Chord Energy (NASDAQ:CHRD) had its target price decreased by UBS Group from $168.00 to $161.00 in a research note issued to investors on Monday,Benzinga reports. UBS Group currently has a buy rating on the stock.

Other research analysts have also issued research reports about the company. Truist Financial decreased their target price on Chord Energy from $223.00 to $185.00 and set a “buy” rating on the stock in a research report on Monday, September 30th. Jefferies Financial Group assumed coverage on shares of Chord Energy in a report on Thursday, September 5th. They set a “hold” rating and a $160.00 price objective on the stock. Royal Bank of Canada cut their target price on shares of Chord Energy from $185.00 to $180.00 and set an “outperform” rating for the company in a research note on Wednesday, November 20th. BMO Capital Markets decreased their price target on shares of Chord Energy from $205.00 to $175.00 and set an “outperform” rating on the stock in a research note on Friday, October 4th. Finally, Citigroup cut their price objective on Chord Energy from $195.00 to $180.00 and set a “buy” rating for the company in a research note on Monday, August 12th. Two research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Chord Energy currently has a consensus rating of “Moderate Buy” and a consensus target price of $187.82.

Chord Energy Trading Up 1.3 %

Chord Energy stock opened at $119.46 on Monday. The firm has a market cap of $7.30 billion, a PE ratio of 6.15, a P/E/G ratio of 4.70 and a beta of 0.96. Chord Energy has a 12 month low of $115.96 and a 12 month high of $190.23. The stock’s 50 day simple moving average is $128.52 and its two-hundred day simple moving average is $147.58. The company has a current ratio of 0.93, a quick ratio of 0.89 and a debt-to-equity ratio of 0.10.

Chord Energy (NASDAQ:CHRD) last released its quarterly earnings data on Wednesday, November 6th. The company reported $3.40 earnings per share for the quarter, missing analysts’ consensus estimates of $3.63 by ($0.23). The firm had revenue of $1.12 billion during 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 firm’s quarterly revenue was up 33.4% on a year-over-year basis. During the same period in the previous year, the firm posted $5.04 EPS. Analysts anticipate that Chord Energy will post 16.5 earnings per share for the current year.

Chord Energy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Wednesday, November 27th will be issued a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a yield of 4.19%. The ex-dividend date of this dividend is Wednesday, November 27th. Chord Energy’s dividend payout ratio (DPR) is 25.75%.

Insider Buying and Selling at Chord Energy

In other news, CAO Shannon Browning Kinney sold 1,000 shares of the company’s stock in a transaction on Monday, December 9th. The stock was sold at an average price of $121.27, for a total transaction of $121,270.00. Following the sale, the chief accounting officer now owns 20,488 shares of the company’s stock, valued at approximately $2,484,579.76. This represents a 4.65 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.70% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Chord Energy

A number of hedge funds have recently bought and sold shares of the stock. Hexagon Capital Partners LLC increased its holdings in shares of Chord Energy by 462.9% in the 3rd quarter. Hexagon Capital Partners LLC now owns 197 shares of the company’s stock valued at $26,000 after acquiring an additional 162 shares during the last quarter. Stone House Investment Management LLC purchased a new position in Chord Energy in the third quarter valued at approximately $26,000. UMB Bank n.a. raised its holdings in Chord Energy by 77.7% during the third quarter. UMB Bank n.a. now owns 231 shares of the company’s stock worth $30,000 after purchasing an additional 101 shares in the last quarter. Spartan Fund Management Inc. purchased a new stake in shares of Chord Energy during the 3rd quarter worth approximately $34,000. Finally, Ashton Thomas Private Wealth LLC purchased a new stake in shares of Chord Energy during the 2nd quarter worth approximately $40,000. Institutional investors and hedge funds 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.