Chord Energy (NASDAQ:CHRD) Price Target Raised to $175.00 at Wells Fargo & Company

Chord Energy (NASDAQ:CHRD) had its target price hoisted by Wells Fargo & Company from $136.00 to $175.00 in a report issued on Wednesday morning,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the stock.

Other equities research analysts have also recently issued reports about the company. Morgan Stanley raised Chord Energy from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $114.00 to $168.00 in a report on Friday, March 27th. Royal Bank Of Canada dropped their price target on Chord Energy from $135.00 to $128.00 and set an “outperform” rating for the company in a report on Tuesday, January 13th. Scotiabank raised Chord Energy to a “hold” rating in a report on Friday, March 27th. Jefferies Financial Group set a $99.00 price target on Chord Energy in a report on Saturday, January 17th. Finally, Truist Financial assumed coverage on Chord Energy in a research report on Tuesday, March 24th. They issued a “buy” rating and a $169.00 price objective on the stock. Two analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Chord Energy presently has an average rating of “Moderate Buy” and a consensus price target of $145.08.

Chord Energy Trading Down 7.2%

CHRD stock opened at $134.93 on Wednesday. The business has a fifty day moving average price of $118.27 and a 200 day moving average price of $102.17. Chord Energy has a fifty-two week low of $79.83 and a fifty-two week high of $148.41. The stock has a market capitalization of $7.65 billion, a price-to-earnings ratio of 214.17 and a beta of 0.66. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.06 and a quick ratio of 0.98.

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

Chord Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 27th. Shareholders of record on Thursday, March 12th were given a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a yield of 3.9%. The ex-dividend date was Thursday, March 12th. Chord Energy’s dividend payout ratio (DPR) is presently 825.40%.

Insider Transactions at Chord Energy

In other Chord Energy news, Director Douglas E. Brooks sold 2,126 shares of the stock in a transaction on Friday, March 6th. The stock was sold at an average price of $120.28, for a total value of $255,715.28. Following the transaction, the director directly owned 25,181 shares in the company, valued at approximately $3,028,770.68. This trade represents a 7.79% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Lara J. Kroll sold 5,000 shares of the firm’s stock in a transaction on Tuesday, March 3rd. The stock was sold at an average price of $113.66, for a total value of $568,300.00. Following the completion of the transaction, the chief accounting officer owned 8,921 shares in the company, valued at $1,013,960.86. This represents a 35.92% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 23,927 shares of company stock valued at $2,912,028 over the last 90 days. 0.70% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. WealthCollab LLC boosted its position in shares of Chord Energy by 90.6% in the 2nd quarter. WealthCollab LLC now owns 305 shares of the company’s stock worth $30,000 after purchasing an additional 145 shares during the last quarter. Quent Capital LLC bought a new position in shares of Chord Energy in the 3rd quarter worth $32,000. Pilgrim Partners Asia Pte Ltd bought a new position in shares of Chord Energy in the 3rd quarter worth $46,000. Rockefeller Capital Management L.P. boosted its position in shares of 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 purchasing an additional 341 shares during the last quarter. Finally, Triumph Capital Management bought a new position in shares of Chord Energy in the 3rd quarter worth $56,000. 97.76% of the stock is currently owned by institutional investors.

Chord Energy Company Profile

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.