Citigroup Cuts Chord Energy (NASDAQ:CHRD) Price Target to $120.00

Chord Energy (NASDAQ:CHRD) had its price target trimmed by Citigroup from $135.00 to $120.00 in a report published on Monday,Benzinga reports. The firm currently has a buy rating on the stock.

A number of other equities research analysts have also recently issued reports on the stock. Morgan Stanley set a $139.00 price target on shares of Chord Energy and gave the company a “cautious” rating in a report on Wednesday, March 26th. Williams Trading set a $155.00 target price on Chord Energy in a report on Wednesday, March 5th. Truist Financial lifted their price target on Chord Energy from $185.00 to $186.00 and gave the stock a “buy” rating in a research report on Monday, January 13th. UBS Group lowered their price objective on shares of Chord Energy from $168.00 to $161.00 and set a “buy” rating on the stock in a research note on Monday, December 9th. Finally, Wells Fargo & Company cut their target price on shares of Chord Energy from $175.00 to $166.00 and set an “overweight” rating for the company in a research note on Monday, March 24th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Chord Energy presently has a consensus rating of “Moderate Buy” and a consensus price target of $160.31.

Chord Energy Stock Up 15.8 %

CHRD opened at $94.99 on Monday. Chord Energy has a twelve month low of $79.83 and a twelve month high of $190.23. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.89 and a current ratio of 0.93. The business has a 50 day moving average price of $107.06 and a 200 day moving average price of $118.65. The firm has a market cap of $5.65 billion, a P/E ratio of 4.89, a price-to-earnings-growth ratio of 5.83 and a beta of 0.96.

Chord Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 26th. Shareholders of record on Tuesday, March 11th were given a $1.30 dividend. This is an increase from Chord Energy’s previous quarterly dividend of $1.25. The ex-dividend date of this dividend was Tuesday, March 11th. This represents a $5.20 annualized dividend and a yield of 5.47%. Chord Energy’s payout ratio is presently 32.62%.

Institutional Trading of Chord Energy

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Natixis Advisors LLC acquired a new position in shares of Chord Energy during the fourth quarter worth approximately $1,191,000. Merit Financial Group LLC bought a new position in Chord Energy in the 4th quarter worth approximately $553,000. Geode Capital Management LLC lifted its holdings in Chord Energy by 3.0% during the 3rd quarter. Geode Capital Management LLC now owns 1,162,442 shares of the company’s stock worth $151,077,000 after buying an additional 34,156 shares in the last quarter. Kingsview Wealth Management LLC boosted its position in Chord Energy by 55.3% in the 4th quarter. Kingsview Wealth Management LLC now owns 21,744 shares of the company’s stock valued at $2,542,000 after buying an additional 7,743 shares during the last quarter. Finally, Arkfeld Wealth Strategies L.L.C. increased its stake in shares of Chord Energy by 3.5% in the 4th quarter. Arkfeld Wealth Strategies L.L.C. now owns 92,211 shares of the company’s stock valued at $11,596,000 after buying an additional 3,151 shares during the period. 97.76% of the stock is currently owned by institutional investors and hedge funds.

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.