Chord Energy (NASDAQ:CHRD) Price Target Raised to $155.00

Chord Energy (NASDAQ:CHRD) had its price objective lifted by Citigroup from $120.00 to $155.00 in a report released on Tuesday morning,Benzinga reports. They currently have a neutral rating on the stock.

Other research analysts also recently issued research reports about the company. Pickering Energy Partners downgraded Chord Energy from an “outperform” rating to a “neutral” rating in a report on Friday, January 9th. Weiss Ratings upgraded Chord Energy from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Tuesday, March 17th. Wells Fargo & Company lifted their price target on Chord Energy from $109.00 to $136.00 and gave the company an “overweight” rating in a research report on Monday, March 16th. Scotiabank upgraded Chord Energy to a “hold” rating in a report on Friday, March 27th. Finally, Piper Sandler raised their price objective on Chord Energy from $158.00 to $190.00 and gave the company an “overweight” rating in a research report on Thursday, March 12th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, Chord Energy presently has a consensus rating of “Moderate Buy” and a consensus price target of $141.83.

Chord Energy Trading Up 3.7%

NASDAQ:CHRD opened at $142.00 on Tuesday. The company has a 50-day moving average price of $114.73 and a 200-day moving average price of $101.14. The stock has a market cap of $8.05 billion, a price-to-earnings ratio of 225.40 and a beta of 0.66. The company has a current ratio of 1.06, a quick ratio of 0.98 and a debt-to-equity ratio of 0.18. Chord Energy has a 12 month low of $79.83 and a 12 month high of $148.41.

Chord Energy (NASDAQ:CHRD) last announced its quarterly earnings results on Wednesday, February 25th. The company reported $1.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.17 by $0.11. Chord Energy had a net margin of 0.91% and a return on equity of 6.71%. The company had revenue of $1.17 billion for the quarter, compared to analysts’ expectations of $1.03 billion. During the same quarter in the previous year, the company earned $3.49 earnings per share. Chord Energy’s quarterly revenue was down 19.6% on a year-over-year basis. Equities analysts predict that Chord Energy will post 15.59 EPS for the current year.

Chord Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 27th. Stockholders of record on Thursday, March 12th were given a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date of this dividend was Thursday, March 12th. Chord Energy’s payout ratio is currently 825.40%.

Insider Buying and Selling

In other Chord Energy news, EVP Michael H. Lou sold 15,000 shares of the business’s stock in a transaction on Thursday, March 12th. The stock was sold at an average price of $125.47, for a total value of $1,882,050.00. Following the sale, the executive vice president directly owned 82,699 shares of the company’s stock, valued at approximately $10,376,243.53. The trade was a 15.35% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Shannon Browning Kinney sold 1,801 shares of the stock in a transaction on Tuesday, March 3rd. The stock was sold at an average price of $114.36, for a total value of $205,962.36. Following the completion of the sale, the executive vice president directly owned 20,188 shares in the company, valued at approximately $2,308,699.68. This represents a 8.19% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 23,927 shares of company stock worth $2,912,028 in the last 90 days. Corporate insiders own 0.70% of the company’s stock.

Institutional Trading of Chord Energy

A number of institutional investors and hedge funds have recently bought and sold shares of CHRD. WealthCollab LLC lifted its stake in shares of Chord Energy by 90.6% in the second quarter. WealthCollab LLC now owns 305 shares of the company’s stock worth $30,000 after buying an additional 145 shares in the last quarter. Quent Capital LLC bought a new stake in shares of Chord Energy during the third quarter valued at approximately $32,000. Pilgrim Partners Asia Pte Ltd purchased a new position in Chord Energy in the 3rd quarter worth approximately $46,000. Rockefeller Capital Management L.P. raised its holdings in Chord Energy by 213.1% in the 4th quarter. Rockefeller Capital Management L.P. now owns 501 shares of the company’s stock worth $47,000 after acquiring an additional 341 shares during the last quarter. Finally, TD Private Client Wealth LLC lifted its position in Chord Energy by 360.3% in the 4th quarter. TD Private Client Wealth LLC now owns 580 shares of the company’s stock valued at $54,000 after acquiring an additional 454 shares in the last quarter. 97.76% of the stock is currently owned by institutional investors.

About Chord Energy

Chord Energy Corporation (NASDAQ: CHRD), formerly known as Oasis Petroleum Inc, is an independent exploration and production company focused on the acquisition, development and production of crude oil, natural gas and natural gas liquids. Headquartered in Houston, Texas, Chord Energy emerged from financial restructuring in early 2021 and rebranded in October 2022 to reflect its renewed strategic vision.

The company’s core operations are concentrated in two prolific U.S. resource plays: the Williston Basin across North Dakota and Montana, and the Delaware Basin spanning parts of West Texas and southeastern New Mexico.