Chord Energy (NASDAQ:CHRD) Given New $158.00 Price Target at Wells Fargo & Company

Chord Energy (NASDAQ:CHRD) had its price target cut by Wells Fargo & Company from $166.00 to $158.00 in a research report released on Tuesday,Benzinga reports. They currently have an overweight rating on the stock.

A number of other equities research analysts have also issued reports on CHRD. Truist Financial increased their price target on Chord Energy from $185.00 to $186.00 and gave the stock a “buy” rating in a research note on Monday, January 13th. Piper Sandler cut their target price on Chord Energy from $193.00 to $184.00 and set an “overweight” rating for the company in a research report on Thursday, March 6th. 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 report on Friday, January 3rd. Mizuho cut their price objective on shares of Chord Energy from $192.00 to $178.00 and set an “outperform” rating for the company in a report on Monday, December 16th. Finally, Williams Trading set a $155.00 target price on shares of Chord Energy in a report on Wednesday, March 5th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $157.00.

Chord Energy Price Performance

Shares of NASDAQ:CHRD opened at $88.40 on Tuesday. The company has a market capitalization of $5.26 billion, a P/E ratio of 4.55, a P/E/G ratio of 5.83 and a beta of 0.96. Chord Energy has a 1-year low of $79.83 and a 1-year high of $188.02. The firm’s 50 day simple moving average is $105.66 and its two-hundred day simple moving average is $117.65. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.93 and a quick ratio of 0.89.

Chord Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 26th. Shareholders of record on Tuesday, March 11th were paid a dividend of $1.30 per share. This is a boost from Chord Energy’s previous quarterly dividend of $1.25. This represents a $5.20 annualized dividend and a yield of 5.88%. The ex-dividend date of this dividend was Tuesday, March 11th. Chord Energy’s payout ratio is presently 32.62%.

Institutional Investors Weigh In On Chord Energy

Institutional investors have recently modified their holdings of the stock. Delta Capital Management LLC raised its holdings in Chord Energy by 4.3% during the 4th quarter. Delta Capital Management LLC now owns 2,200 shares of the company’s stock valued at $257,000 after buying an additional 90 shares during the period. Gables Capital Management Inc. increased its position in Chord Energy by 6.9% during the fourth quarter. Gables Capital Management Inc. now owns 1,550 shares of the company’s stock valued at $181,000 after acquiring an additional 100 shares during the last quarter. Envestnet Portfolio Solutions Inc. raised its stake in shares of Chord Energy by 2.9% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 3,710 shares of the company’s stock valued at $434,000 after acquiring an additional 106 shares during the period. Exchange Traded Concepts LLC lifted its holdings in shares of Chord Energy by 1.8% in the 4th quarter. Exchange Traded Concepts LLC now owns 6,145 shares of the company’s stock worth $718,000 after acquiring an additional 110 shares during the last quarter. Finally, MGO One Seven LLC boosted its stake in shares of Chord Energy by 6.7% during the 4th quarter. MGO One Seven LLC now owns 1,775 shares of the company’s stock worth $208,000 after purchasing an additional 111 shares during the period. 97.76% of the stock is 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.