Citigroup Cuts Chord Energy (NASDAQ:CHRD) Price Target to $120.00

Chord Energy (NASDAQ:CHRD) had its target price trimmed by Citigroup from $135.00 to $120.00 in a research note issued to investors on Monday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

CHRD has been the topic of a number of other reports. Piper Sandler lowered their price objective on shares of Chord Energy from $193.00 to $184.00 and set an “overweight” rating on the stock in a report on Thursday, March 6th. Williams Trading set a $155.00 price target on Chord Energy in a research report on Wednesday, March 5th. Bank of America cut their price target on shares of Chord Energy from $138.00 to $125.00 and set a “neutral” rating for the company in a research note on Tuesday, April 1st. Mizuho dropped 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, Wells Fargo & Company reduced their price target on Chord Energy from $175.00 to $166.00 and set an “overweight” rating for the company in a report on Monday, March 24th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $160.31.

Chord Energy Stock Performance

Shares of Chord Energy stock opened at $94.99 on Monday. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.93 and a quick ratio of 0.89. The firm has a market cap of $5.65 billion, a price-to-earnings ratio of 4.89, a price-to-earnings-growth ratio of 5.83 and a beta of 0.96. Chord Energy has a one year low of $79.83 and a one year high of $190.23. The stock’s 50-day moving average is $107.06 and its 200-day moving average is $118.65.

Chord Energy Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 26th. Investors of record on Tuesday, March 11th were given a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a yield of 5.47%. This is a positive change from Chord Energy’s previous quarterly dividend of $1.25. The ex-dividend date was Tuesday, March 11th. Chord Energy’s dividend payout ratio (DPR) is currently 32.62%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in CHRD. Altshuler Shaham Ltd acquired a new stake in Chord Energy during the fourth quarter worth approximately $25,000. Brooklyn Investment Group acquired a new stake in shares of Chord Energy during the 4th quarter worth $29,000. Twin Tree Management LP acquired a new stake in shares of Chord Energy during the 4th quarter worth $33,000. Larson Financial Group LLC raised its stake in Chord Energy by 238.3% in the fourth quarter. Larson Financial Group LLC now owns 318 shares of the company’s stock valued at $37,000 after purchasing an additional 224 shares in the last quarter. Finally, R Squared Ltd bought a new stake in Chord Energy during the fourth quarter worth about $51,000. 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.