Piper Sandler Cuts Chord Energy (NASDAQ:CHRD) Price Target to $160.00

Chord Energy (NASDAQ:CHRD) had its price target lowered by Piper Sandler from $165.00 to $160.00 in a research note released on Wednesday,Benzinga reports. The brokerage currently has an overweight rating on the stock.

Other research analysts have also recently issued research reports about the company. Wall Street Zen cut Chord Energy from a “hold” rating to a “sell” rating in a research note on Saturday, November 1st. Zacks Research lowered Chord Energy from a “hold” rating to a “strong sell” rating in a research report on Tuesday, January 20th. Pickering Energy Partners lowered shares of Chord Energy from an “outperform” rating to a “neutral” rating in a research note on Friday, January 9th. William Blair began coverage on shares of Chord Energy in a report on Friday, November 21st. They issued an “outperform” rating for the company. Finally, Mizuho set a $148.00 price objective on Chord Energy in a report on Friday, January 9th. Eight investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $124.67.

Chord Energy Stock Performance

Shares of Chord Energy stock opened at $100.24 on Wednesday. The company has a current ratio of 1.35, a quick ratio of 1.28 and a debt-to-equity ratio of 0.18. The business has a fifty day simple moving average of $93.85 and a two-hundred day simple moving average of $97.70. The firm has a market capitalization of $5.70 billion, a P/E ratio of 38.55 and a beta of 0.92. Chord Energy has a 12 month low of $79.83 and a 12 month high of $116.24.

Chord Energy (NASDAQ:CHRD) last posted its quarterly earnings data on Tuesday, November 4th. The company reported $2.35 EPS for the quarter, topping the consensus estimate of $2.24 by $0.11. Chord Energy had a net margin of 3.31% and a return on equity of 8.27%. The business had revenue of $1.31 billion for the quarter, compared to analyst estimates of $1.02 billion. During the same quarter in the previous year, the firm posted $3.40 earnings per share. Chord Energy’s quarterly revenue was up 17.0% on a year-over-year basis. On average, equities analysts forecast that Chord Energy will post 15.59 earnings per share for the current fiscal year.

Chord Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 5th. Stockholders of record on Wednesday, November 19th were paid a $1.30 dividend. The ex-dividend date of this dividend was Wednesday, November 19th. This represents a $5.20 annualized dividend and a dividend yield of 5.2%. Chord Energy’s dividend payout ratio (DPR) is 200.00%.

Insider Buying and Selling at Chord Energy

In related news, Director Samantha Holroyd acquired 1,250 shares of the business’s stock in a transaction that occurred on Friday, November 7th. The stock was bought at an average cost of $85.50 per share, for a total transaction of $106,875.00. Following the purchase, the director owned 17,706 shares in the company, valued at $1,513,863. The trade was a 7.60% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 0.70% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Chord Energy

A number of hedge funds have recently modified their holdings of the company. First Citizens Bank & Trust Co. purchased a new stake in shares of Chord Energy during the 2nd quarter valued at about $502,000. Wedge Capital Management L L P NC bought a new position in shares of Chord Energy during the 3rd quarter valued at approximately $13,092,000. State of Alaska Department of Revenue increased its position in shares of Chord Energy by 59.0% during the 2nd quarter. State of Alaska Department of Revenue now owns 30,478 shares of the company’s stock valued at $2,951,000 after purchasing an additional 11,315 shares during the last quarter. Westwood Holdings Group Inc. raised its holdings in Chord Energy by 22.9% during the 2nd quarter. Westwood Holdings Group Inc. now owns 214,680 shares of the company’s stock valued at $20,792,000 after buying an additional 39,980 shares during the period. Finally, CWM LLC lifted its position in Chord Energy by 254.5% in the second quarter. CWM LLC now owns 27,484 shares of the company’s stock worth $2,662,000 after buying an additional 19,732 shares during 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.