Chord Energy (NASDAQ:CHRD) Price Target Cut to $246.00 by Analysts at Truist Financial

Posted by Defense World Staff on May 9th, 2023

Chord Energy (NASDAQ:CHRD – Get Rating) had its price objective cut by Truist Financial from $252.00 to $246.00 in a report published on Monday, The Fly reports.

A number of other analysts also recently weighed in on CHRD. Mizuho cut their target price on Chord Energy from $196.00 to $179.00 in a research report on Friday, March 10th. Royal Bank of Canada restated an outperform rating and set a $190.00 price objective on shares of Chord Energy in a research report on Thursday, March 30th. Stifel Nicolaus upped their target price on Chord Energy from $182.00 to $185.00 in a report on Thursday, April 27th. Piper Sandler upped their target price on Chord Energy from $210.00 to $213.00 and gave the stock an overweight rating in a report on Wednesday, April 19th. Finally, Bank of America began coverage on Chord Energy in a research note on Wednesday, January 25th. They issued a buy rating and a $178.00 price target for the company. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of Moderate Buy and an average price target of $192.25.

Chord Energy Stock Performance

CHRD opened at $141.45 on Monday. The business has a fifty day simple moving average of $136.94 and a 200 day simple moving average of $140.44. The company has a market capitalization of $5.88 billion, a PE ratio of 3.35, a price-to-earnings-growth ratio of 0.32 and a beta of 1.36. Chord Energy has a 1 year low of $93.35 and a 1 year high of $181.34. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.18 and a quick ratio of 1.13.

Chord Energy (NASDAQ:CHRD – Get Rating) last released its quarterly earnings results on Wednesday, February 22nd. The company reported $5.28 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.89 by ($0.61). The firm had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $875.33 million. Chord Energy had a net margin of 43.37% and a return on equity of 23.51%. Research analysts expect that Chord Energy will post 22.76 EPS for the current year.

Chord Energy Cuts Dividend

The firm also recently announced a None dividend, which will be paid on Tuesday, May 30th. Investors of record on Tuesday, May 16th will be given a dividend of $3.22 per share. The ex-dividend date of this dividend is Monday, May 15th. This represents a dividend yield of 3.5%. Chord Energy’s payout ratio is 11.85%.

Insider Activity at Chord Energy

In other Chord Energy news, Director Lynn A. Peterson sold 1,048 shares of the stock in a transaction that occurred on Wednesday, February 15th. The stock was sold at an average price of $140.06, for a total value of $146,782.88. Following the transaction, the director now owns 246,050 shares in the company, valued at $34,461,763. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Chord Energy news, Director Lynn A. Peterson sold 3,000 shares of the stock in a transaction that occurred on Monday, April 3rd. The stock was sold at an average price of $142.03, for a total value of $426,090.00. Following the transaction, the director now owns 241,098 shares in the company, valued at $34,243,148.94. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Lynn A. Peterson sold 1,048 shares of the stock in a transaction that occurred on Wednesday, February 15th. The stock was sold at an average price of $140.06, for a total value of $146,782.88. Following the completion of the transaction, the director now owns 246,050 shares in the company, valued at approximately $34,461,763. The disclosure for this sale can be found here. Insiders have sold a total of 7,048 shares of company stock worth $1,007,693 in the last 90 days. Corporate insiders own 0.52% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Crewe Advisors LLC bought a new position in shares of Chord Energy in the fourth quarter valued at approximately $25,000. Armstrong Advisory Group Inc. bought a new position in shares of Chord Energy in the fourth quarter valued at approximately $25,000. FinTrust Capital Advisors LLC bought a new position in shares of Chord Energy in the fourth quarter valued at approximately $28,000. Fifth Third Bancorp bought a new position in shares of Chord Energy in the fourth quarter valued at approximately $29,000. Finally, Assetmark Inc. bought a new position in shares of Chord Energy in the first quarter valued at approximately $30,000. Institutional investors own 93.47% of the company’s stock.

Chord Energy Company Profile

(Get Rating)

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. The company was founded in 2007 and is headquartered in Houston, Texas.

Analyst Recommendations for Chord Energy (NASDAQ:CHRD)

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