Wells Fargo & Company Cuts Chord Energy (NASDAQ:CHRD) Price Target to $175.00

Chord Energy (NASDAQ:CHRD) had its target price decreased by Wells Fargo & Company from $176.00 to $175.00 in a research report report published on Wednesday,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the stock.

CHRD has been the topic of several other reports. Piper Sandler dropped their price target on shares of Chord Energy from $212.00 to $194.00 and set an “overweight” rating on the stock in a research note on Tuesday, December 17th. Bank of America restated a “neutral” rating and set a $138.00 target price (down from $208.00) on shares of Chord Energy in a research report on Monday. UBS Group cut their target price on shares of Chord Energy from $168.00 to $161.00 and set a “buy” rating on the stock in a report on Monday, December 9th. Mizuho cut their target price on shares of Chord Energy from $192.00 to $178.00 and set an “outperform” rating on the stock in a report on Monday, December 16th. Finally, BMO Capital Markets cut their target price on shares of Chord Energy from $205.00 to $175.00 and set an “outperform” rating on the stock in a report on Friday, October 4th. Three investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $173.08.

Chord Energy Stock Performance

Shares of Chord Energy stock opened at $127.78 on Wednesday. The firm has a market capitalization of $7.81 billion, a P/E ratio of 6.58, a P/E/G ratio of 5.57 and a beta of 0.99. Chord Energy has a 52 week low of $109.59 and a 52 week high of $190.23. The company has a quick ratio of 0.89, a current ratio of 0.93 and a debt-to-equity ratio of 0.10. The firm’s 50 day moving average is $122.51 and its two-hundred day moving average is $138.29.

Chord Energy (NASDAQ:CHRD) last announced its quarterly earnings results on Wednesday, November 6th. The company reported $3.40 EPS for the quarter, missing the consensus estimate of $3.63 by ($0.23). The company 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 business’s revenue for the quarter was up 33.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $5.04 earnings per share. Research analysts forecast that Chord Energy will post 16.33 EPS for the current fiscal year.

Chord Energy Announces Dividend

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

Insider Buying and Selling at Chord Energy

In other Chord Energy news, CAO Shannon Browning Kinney sold 1,000 shares of the business’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $116.35, for a total transaction of $116,350.00. Following the sale, the chief accounting officer now directly owns 19,488 shares in the company, valued at approximately $2,267,428.80. The trade was a 4.88 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.70% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Chord Energy

Institutional investors have recently made changes to their positions in the stock. Hexagon Capital Partners LLC boosted its position in shares of Chord Energy by 462.9% during the 3rd quarter. Hexagon Capital Partners LLC now owns 197 shares of the company’s stock worth $26,000 after purchasing an additional 162 shares in the last quarter. Stone House Investment Management LLC purchased a new stake in shares of Chord Energy during the 3rd quarter worth $26,000. UMB Bank n.a. boosted its position in shares of Chord Energy by 77.7% during the 3rd 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. Benjamin F. Edwards & Company Inc. boosted its position in shares of Chord Energy by 125.9% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 244 shares of the company’s stock worth $41,000 after buying an additional 136 shares in the last quarter. Finally, Brooklyn Investment Group purchased a new stake in shares of Chord Energy in the 4th quarter worth about $29,000. 97.76% of the stock is currently owned by hedge funds and other institutional investors.

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.