Analysts Set Chord Energy Co. (NASDAQ:CHRD) Price Target at $164.62

Shares of Chord Energy Co. (NASDAQ:CHRD) have earned a consensus rating of “Moderate Buy” from the thirteen brokerages that are currently covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, three have issued a hold rating, eight have given a buy rating and one has issued a strong buy rating on the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $163.92.

A number of research analysts recently issued reports on CHRD shares. Wolfe Research upgraded shares of Chord Energy from a “peer perform” rating to an “outperform” rating and set a $155.00 target price on the stock in a research report on Friday, January 3rd. Morgan Stanley started coverage on shares of Chord Energy in a report on Friday, January 10th. They set an “equal weight” rating and a $158.00 price objective on the stock. Mizuho cut their price objective on shares of Chord Energy from $192.00 to $178.00 and set an “outperform” rating on the stock in a research report on Monday, December 16th. Truist Financial boosted their target price on Chord Energy from $185.00 to $186.00 and gave the company a “buy” rating in a research report on Monday, January 13th. Finally, Piper Sandler cut their price target on Chord Energy from $193.00 to $184.00 and set an “overweight” rating on the stock in a report on Thursday, March 6th.

Chord Energy Price Performance

Shares of CHRD opened at $112.60 on Wednesday. The firm has a market cap of $6.71 billion, a PE ratio of 5.80, a price-to-earnings-growth ratio of 5.83 and a beta of 0.98. Chord Energy has a 52-week low of $99.40 and a 52-week high of $190.23. The business’s 50 day moving average price is $112.66 and its two-hundred day moving average price is $121.74. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.89 and a current ratio of 0.93.

Chord Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 26th. Stockholders of record on Tuesday, March 11th will be paid a $1.30 dividend. This is a positive change from Chord Energy’s previous quarterly dividend of $1.25. The ex-dividend date is Tuesday, March 11th. This represents a $5.20 annualized dividend and a dividend yield of 4.62%. Chord Energy’s dividend payout ratio is presently 32.62%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. GSA Capital Partners LLP bought a new position in shares of Chord Energy during the 3rd quarter worth approximately $218,000. Swiss National Bank boosted its position in Chord Energy by 0.6% in the third quarter. Swiss National Bank now owns 185,022 shares of the company’s stock worth $24,095,000 after purchasing an additional 1,100 shares during the last quarter. Quest Partners LLC grew its stake in Chord Energy by 718,700.0% in the 3rd quarter. Quest Partners LLC now owns 7,188 shares of the company’s stock valued at $936,000 after purchasing an additional 7,187 shares during the period. Lindenwold Advisors INC grew its stake in Chord Energy by 5.0% in the 3rd quarter. Lindenwold Advisors INC now owns 2,523 shares of the company’s stock valued at $329,000 after purchasing an additional 119 shares during the period. Finally, Beddow Capital Management Inc. purchased a new stake in shares of Chord Energy during the 3rd quarter valued at $522,000. 97.76% of the stock is currently owned by hedge funds and other 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.