Citigroup Cuts Chord Energy (NASDAQ:CHRD) Price Target to $135.00

Chord Energy (NASDAQ:CHRD) had its price target trimmed by Citigroup from $160.00 to $135.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm currently has a buy rating on the stock.

A number of other equities analysts also recently weighed in on CHRD. Wolfe Research raised shares of Chord Energy from a “peer perform” rating to an “outperform” rating and set a $155.00 price target on the stock in a research note on Friday, January 3rd. Truist Financial upped their target price on Chord Energy from $185.00 to $186.00 and gave the stock a “buy” rating in a research report on Monday, January 13th. Wells Fargo & Company reduced their price target on Chord Energy from $176.00 to $175.00 and set an “overweight” rating for the company in a report on Wednesday, January 15th. Piper Sandler dropped their price objective on Chord Energy from $194.00 to $193.00 and set an “overweight” rating on the stock in a report on Wednesday, January 15th. Finally, Bank of America reiterated a “neutral” rating and issued a $138.00 target price (down from $208.00) on shares of Chord Energy in a research note on Monday, January 13th. Three equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Chord Energy has an average rating of “Moderate Buy” and an average target price of $165.42.

Chord Energy Stock Up 1.1 %

Chord Energy stock opened at $102.45 on Tuesday. Chord Energy has a twelve month low of $99.40 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 firm has a market cap of $6.26 billion, a PE ratio of 5.28, a P/E/G ratio of 5.83 and a beta of 0.98. The firm’s 50 day moving average price is $115.91 and its two-hundred day moving average price is $125.57.

Chord Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 26th. Investors of record on Tuesday, March 11th will be issued a $1.30 dividend. This represents a $5.20 annualized dividend and a yield of 5.08%. The ex-dividend date of this dividend is Tuesday, March 11th. This is an increase from Chord Energy’s previous quarterly dividend of $1.25. Chord Energy’s dividend payout ratio (DPR) is 32.62%.

Insider Transactions at Chord Energy

In other Chord Energy news, CAO Shannon Browning Kinney sold 1,000 shares of the company’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $116.35, for a total value of $116,350.00. Following the sale, the chief accounting officer now directly owns 19,488 shares in the company, valued at $2,267,428.80. This represents a 4.88 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.70% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Chord Energy

Large investors have recently made changes to their positions in the company. Delta Capital Management LLC increased its position in shares of Chord Energy by 4.3% during the fourth quarter. Delta Capital Management LLC now owns 2,200 shares of the company’s stock worth $257,000 after acquiring an additional 90 shares in the last quarter. Commerce Bank lifted its position in Chord Energy by 4.3% in the 3rd quarter. Commerce Bank now owns 2,361 shares of the company’s stock valued at $307,000 after acquiring an additional 98 shares in the last quarter. New York State Teachers Retirement System lifted its position in Chord Energy by 0.4% in the 3rd quarter. New York State Teachers Retirement System now owns 27,274 shares of the company’s stock valued at $3,552,000 after acquiring an additional 100 shares in the last quarter. Gables Capital Management Inc. boosted its stake in Chord Energy by 6.9% during the 4th quarter. Gables Capital Management Inc. now owns 1,550 shares of the company’s stock valued at $181,000 after purchasing an additional 100 shares during the last quarter. Finally, Envestnet Portfolio Solutions Inc. increased its holdings in shares of Chord Energy by 2.9% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 3,710 shares of the company’s stock worth $434,000 after purchasing an additional 106 shares in the last quarter. 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.