Chord Energy (NASDAQ:CHRD) Price Target Lowered to $145.00 at Royal Bank of Canada

Chord Energy (NASDAQ:CHRD) had its target price cut by Royal Bank of Canada from $165.00 to $145.00 in a report issued on Friday morning,Benzinga reports. They currently have an outperform rating on the stock.

Several other research firms also recently weighed in on CHRD. Bank of America decreased 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. Wolfe Research raised 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. Wells Fargo & Company reduced their price objective on Chord Energy from $175.00 to $166.00 and set an “overweight” rating for the company in a research note on Monday, March 24th. Williams Trading set a $155.00 target price on Chord Energy in a research report on Wednesday, March 5th. Finally, Morgan Stanley set a $139.00 price target on shares of Chord Energy and gave the company a “cautious” rating in a research report on Wednesday, March 26th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Chord Energy currently has a consensus rating of “Moderate Buy” and a consensus price target of $157.62.

Chord Energy Stock Performance

NASDAQ:CHRD opened at $89.34 on Friday. The company has a quick ratio of 0.89, a current ratio of 0.93 and a debt-to-equity ratio of 0.10. Chord Energy has a twelve month low of $79.83 and a twelve month high of $190.23. The company has a fifty day moving average of $106.56 and a 200-day moving average of $118.31. The firm has a market capitalization of $5.31 billion, a P/E ratio of 4.60, a P/E/G ratio of 5.83 and a beta of 0.96.

Chord Energy Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 26th. Stockholders of record on Tuesday, March 11th were paid a $1.30 dividend. This is a positive change from Chord Energy’s previous quarterly dividend of $1.25. The ex-dividend date of this dividend was Tuesday, March 11th. This represents a $5.20 annualized dividend and a dividend yield of 5.82%. Chord Energy’s dividend payout ratio is presently 32.62%.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. Pacer Advisors Inc. increased its stake in Chord Energy by 50.4% in the 4th quarter. Pacer Advisors Inc. now owns 1,872,156 shares of the company’s stock valued at $218,892,000 after buying an additional 627,122 shares during the last quarter. Victory Capital Management Inc. increased its position in shares of Chord Energy by 27.6% during the fourth quarter. Victory Capital Management Inc. now owns 2,864,456 shares of the company’s stock valued at $334,912,000 after acquiring an additional 619,021 shares during the last quarter. FMR LLC lifted its holdings in Chord Energy by 11.5% during the fourth quarter. FMR LLC now owns 3,814,384 shares of the company’s stock worth $445,978,000 after acquiring an additional 394,372 shares during the period. Encompass Capital Advisors LLC purchased a new position in Chord Energy in the fourth quarter worth $43,745,000. Finally, Squarepoint Ops LLC grew its stake in Chord Energy by 365.5% in the 4th quarter. Squarepoint Ops LLC now owns 337,284 shares of the company’s stock valued at $39,435,000 after purchasing an additional 264,828 shares during the period. 97.76% of the stock is owned by 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.