Chord Energy (NASDAQ:CHRD) Given Neutral Rating at Bank of America

Bank of America restated their neutral rating on shares of Chord Energy (NASDAQ:CHRD) in a research note released on Monday morning, MarketBeat.com reports. They currently have a $138.00 price target on the stock, down from their previous price target of $208.00.

Other equities research analysts have also recently issued reports about the stock. Royal Bank of Canada decreased their price target on shares of Chord Energy from $185.00 to $180.00 and set an “outperform” rating for the company in a report on Wednesday, November 20th. UBS Group decreased their target price on Chord Energy from $168.00 to $161.00 and set a “buy” rating for the company in a research note on Monday, December 9th. Morgan Stanley began coverage on Chord Energy in a research report on Friday, January 10th. They issued an “equal weight” rating and a $158.00 price target on the stock. Piper Sandler reduced their price objective on Chord Energy from $212.00 to $194.00 and set an “overweight” rating for the company in a research report on Tuesday, December 17th. Finally, BMO Capital Markets dropped their target price on shares of Chord Energy from $205.00 to $175.00 and set an “outperform” rating on the stock in a research report on Friday, October 4th. Three investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Chord Energy has an average rating of “Moderate Buy” and a consensus price target of $173.08.

Chord Energy Stock Up 0.9 %

Shares of CHRD stock opened at $127.78 on Monday. The stock’s 50 day simple moving average is $122.51 and its 200 day simple moving average is $138.29. Chord Energy has a twelve month low of $109.59 and a twelve month high of $190.23. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.89 and a current ratio of 0.93. The company has a market capitalization of $7.81 billion, a price-to-earnings ratio of 6.58, a PEG ratio of 4.79 and a beta of 0.99.

Chord Energy (NASDAQ:CHRD) last released its quarterly earnings results on Wednesday, November 6th. The company reported $3.40 EPS 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 the consensus estimate of $1.26 billion. Chord Energy had a net margin of 19.74% and a return on equity of 12.88%. The company’s revenue for the quarter was up 33.4% compared to the same quarter last year. During the same period in the prior year, the business earned $5.04 EPS. As a group, research analysts predict that Chord Energy will post 16.5 EPS for the current year.

Chord Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Wednesday, November 27th were issued a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a dividend yield of 3.91%. The ex-dividend date of this dividend was Wednesday, November 27th. Chord Energy’s payout ratio is 25.75%.

Insider Activity

In related news, CAO Shannon Browning Kinney sold 1,000 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the chief accounting officer now owns 20,488 shares in the company, valued at $2,484,579.76. This trade represents a 4.65 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.70% of the stock is owned by company insiders.

Institutional Trading of Chord Energy

Large investors have recently bought and sold shares of the stock. Ashton Thomas Private Wealth LLC acquired a new stake in shares of Chord Energy in the 2nd quarter valued at $40,000. Choreo LLC acquired a new position in Chord Energy in the second quarter valued at about $534,000. Daiwa Securities Group Inc. bought a new stake in Chord Energy during the second quarter worth about $738,000. State of New Jersey Common Pension Fund D increased its holdings in shares of Chord Energy by 3.6% during the second quarter. State of New Jersey Common Pension Fund D now owns 18,066 shares of the company’s stock worth $3,029,000 after buying an additional 624 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale raised its stake in shares of Chord Energy by 757.1% in the second quarter. DekaBank Deutsche Girozentrale now owns 3,557 shares of the company’s stock valued at $590,000 after acquiring an additional 3,142 shares during the last quarter. 97.76% of the stock is currently owned by 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.