Chord Energy (NASDAQ:CHRD) Price Target Increased to $194.00 by Analysts at Mizuho

Chord Energy (NASDAQ:CHRD) had its target price lifted by Mizuho from $180.00 to $194.00 in a research note released on Monday morning, Marketbeat Ratings reports. They currently have a buy rating on the stock.

Other research analysts also recently issued research reports about the stock. Royal Bank of Canada reaffirmed an outperform rating and issued a $180.00 target price on shares of Chord Energy in a report on Wednesday, August 23rd. Citigroup raised their price objective on Chord Energy from $170.00 to $185.00 in a research report on Friday, August 4th. BMO Capital Markets initiated coverage on Chord Energy in a research report on Thursday, August 31st. They set an outperform rating and a $185.00 price objective for the company. Piper Sandler cut their price objective on Chord Energy from $204.00 to $202.00 in a research report on Tuesday, June 13th. Finally, TD Cowen lowered Chord Energy from an outperform rating to a market perform rating and set a $151.00 price target for the company. in a research report on Wednesday, July 19th. One research analyst has rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and an average price target of $186.00.

Chord Energy Stock Performance

CHRD stock opened at $157.52 on Monday. The stock has a market capitalization of $6.54 billion, a PE ratio of 3.85, a price-to-earnings-growth ratio of 0.44 and a beta of 1.28. Chord Energy has a 12-month low of $117.05 and a 12-month high of $167.81. The company has a current ratio of 0.96, a quick ratio of 0.90 and a debt-to-equity ratio of 0.08. The stock’s 50 day simple moving average is $156.92 and its 200 day simple moving average is $147.76.

Chord Energy (NASDAQ:CHRD) last announced its earnings results on Wednesday, August 2nd. The company reported $3.65 earnings per share for the quarter, missing analysts’ consensus estimates of $3.96 by ($0.31). The company had revenue of $695.40 million for the quarter, compared to analysts’ expectations of $677.85 million. Chord Energy had a net margin of 44.17% and a return on equity of 19.07%. Chord Energy’s quarterly revenue was up 29.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $7.30 earnings per share. As a group, research analysts forecast that Chord Energy will post 18.91 earnings per share for the current fiscal year.

Chord Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 29th. Stockholders of record on Tuesday, August 15th were issued a dividend of $1.36 per share. The ex-dividend date was Monday, August 14th. This is a positive change from Chord Energy’s previous quarterly dividend of $1.25. This represents a $5.44 dividend on an annualized basis and a dividend yield of 3.45%. Chord Energy’s payout ratio is 12.22%.

Insider Activity

In other news, COO Charles J. Rimer sold 1,111 shares of the business’s stock in a transaction on Monday, August 7th. The shares were sold at an average price of $160.00, for a total transaction of $177,760.00. Following the sale, the chief operating officer now directly owns 92,773 shares of the company’s stock, valued at $14,843,680. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Chord Energy news, COO Charles J. Rimer sold 1,111 shares of the company’s stock in a transaction on Monday, August 7th. The shares were sold at an average price of $160.00, for a total value of $177,760.00. Following the sale, the chief operating officer now directly owns 92,773 shares of the company’s stock, valued at $14,843,680. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Michael H. Lou sold 7,632 shares of the company’s stock in a transaction on Tuesday, August 8th. The shares were sold at an average price of $161.26, for a total transaction of $1,230,736.32. Following the completion of the sale, the chief financial officer now directly owns 186,235 shares in the company, valued at $30,032,256.10. The disclosure for this sale can be found here. Insiders have sold 24,132 shares of company stock valued at $3,829,860 over the last ninety days. 0.52% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. BlackRock Inc. raised its position in shares of Chord Energy by 50.4% during the 1st quarter. BlackRock Inc. now owns 4,888,058 shares of the company’s stock worth $657,933,000 after purchasing an additional 1,638,278 shares during the last quarter. State Street Corp raised its position in shares of Chord Energy by 22.5% during the 1st quarter. State Street Corp now owns 1,903,685 shares of the company’s stock worth $256,236,000 after purchasing an additional 349,592 shares during the last quarter. First Trust Advisors LP raised its position in shares of Chord Energy by 514.8% during the 1st quarter. First Trust Advisors LP now owns 1,477,124 shares of the company’s stock worth $198,821,000 after purchasing an additional 1,236,882 shares during the last quarter. JPMorgan Chase & Co. raised its position in shares of Chord Energy by 7.4% during the 1st quarter. JPMorgan Chase & Co. now owns 1,310,240 shares of the company’s stock worth $176,358,000 after purchasing an additional 90,673 shares during the last quarter. Finally, Fuller & Thaler Asset Management Inc. acquired a new position in shares of Chord Energy during the 4th quarter worth about $143,583,000. Institutional investors and hedge funds own 97.76% of the company’s stock.

About Chord Energy

Chord Energy Corporation operates as an independent exploration and production company. It acquires, exploits, develops, and explores for crude oil, natural gas, and natural gas liquids in the Williston Basin. Chord Energy Corporation was founded in 2007 and is headquartered in Houston, Texas.