BMO Capital Markets Trims Chord Energy (NASDAQ:CHRD) Target Price to $175.00

by · The Markets Daily

Chord Energy (NASDAQ:CHRD – Free Report) had its target price cut by BMO Capital Markets from $205.00 to $175.00 in a research note issued to investors on Friday morning, Benzinga reports. They currently have an outperform rating on the stock.

Several other equities analysts have also weighed in on CHRD. Wolfe Research assumed coverage on shares of Chord Energy in a report on Thursday, July 18th. They set a peer perform rating for the company. Bank of America upped their price objective on shares of Chord Energy from $201.00 to $208.00 and gave the stock a buy rating in a research report on Wednesday, August 21st. Citigroup dropped their target price on Chord Energy from $195.00 to $180.00 and set a buy rating on the stock in a research report on Monday, August 12th. Royal Bank of Canada reissued an outperform rating and issued a $200.00 price objective on shares of Chord Energy in a report on Friday, September 20th. Finally, Piper Sandler cut their price objective on Chord Energy from $234.00 to $206.00 and set an overweight rating for the company in a research report on Thursday, August 15th. Two equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of Moderate Buy and an average price target of $192.40.

Check Out Our Latest Stock Report on Chord Energy

Chord Energy Price Performance

Shares of CHRD stock opened at $136.45 on Friday. The company has a market capitalization of $5.69 billion, a P/E ratio of 6.40, a P/E/G ratio of 4.92 and a beta of 0.97. The company’s 50-day simple moving average is $144.47 and its two-hundred day simple moving average is $164.91. Chord Energy has a one year low of $126.96 and a one year high of $190.23. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.96 and a quick ratio of 0.91.

Chord Energy (NASDAQ:CHRD – Get Free Report) last issued its earnings results on Wednesday, August 7th. The company reported $4.69 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.00 by ($0.31). The business had revenue of $902.70 million for the quarter, compared to the consensus estimate of $982.43 million. Chord Energy had a return on equity of 15.06% and a net margin of 20.83%. The firm’s revenue was up 29.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $3.65 earnings per share. As a group, equities analysts anticipate that Chord Energy will post 18.48 EPS for the current year.

Chord Energy Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, September 5th. Stockholders of record on Wednesday, August 21st were paid a $1.25 dividend. The ex-dividend date of this dividend was Wednesday, August 21st. This represents a $5.00 annualized dividend and a dividend yield of 3.66%. Chord Energy’s dividend payout ratio (DPR) is 23.46%.

Insiders Place Their Bets

In related news, Director Samantha Holroyd purchased 500 shares of Chord Energy stock in a transaction dated Friday, August 23rd. The shares were acquired at an average cost of $149.51 per share, with a total value of $74,755.00. Following the purchase, the director now owns 14,417 shares of the company’s stock, valued at approximately $2,155,485.67. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.70% of the stock is owned by insiders.

Hedge Funds Weigh In On Chord Energy

Institutional investors have recently bought and sold shares of the company. Westwood Holdings Group Inc. lifted its holdings in Chord Energy by 4.9% during the 4th quarter. Westwood Holdings Group Inc. now owns 107,334 shares of the company’s stock worth $17,842,000 after buying an additional 5,032 shares in the last quarter. Personal CFO Solutions LLC raised its holdings in Chord Energy by 7.4% in the fourth quarter. Personal CFO Solutions LLC now owns 2,803 shares of the company’s stock valued at $466,000 after acquiring an additional 193 shares in the last quarter. Capital Fund Management S.A. increased its position in shares of Chord Energy by 252.9% in the 4th quarter. Capital Fund Management S.A. now owns 43,934 shares of the company’s stock valued at $7,303,000 after purchasing an additional 31,484 shares during the last quarter. Neuberger Berman Group LLC grew its stake in shares of Chord Energy by 13.9% during the fourth quarter. Neuberger Berman Group LLC now owns 6,012 shares of the company’s stock worth $999,000 after purchasing an additional 732 shares in the last quarter. Finally, Kapitalo Investimentos Ltda acquired a new stake in Chord Energy in the fourth quarter valued at $633,000. 97.76% of the stock is owned by institutional investors and hedge funds.

About Chord Energy

(Get Free Report)

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.

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