Truist Financial Trims Chord Energy (NASDAQ:CHRD) Target Price to $185.00

Chord Energy (NASDAQ:CHRD) had its price target decreased by Truist Financial from $223.00 to $185.00 in a research report report published on Monday, Benzinga reports. Truist Financial currently has a buy rating on the stock.

A number of other analysts also recently commented on CHRD. Royal Bank of Canada reaffirmed an outperform rating and issued a $200.00 price target on shares of Chord Energy in a research note on Friday, September 20th. Piper Sandler cut their target price on Chord Energy from $234.00 to $206.00 and set an overweight rating for the company in a research report on Thursday, August 15th. Wolfe Research began coverage on Chord Energy in a research report on Thursday, July 18th. They set a peer perform rating on the stock. Jefferies Financial Group began coverage on Chord Energy in a research report on Thursday, September 5th. They set a hold rating and a $160.00 price target on the stock. Finally, BMO Capital Markets began coverage on Chord Energy in a research report on Monday, June 3rd. They set an outperform rating and a $230.00 price target on the stock. Two research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of Moderate Buy and an average target price of $197.90.

Chord Energy Stock Performance

CHRD stock opened at $134.70 on Monday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.91 and a current ratio of 0.96. The stock has a market capitalization of $5.62 billion, a price-to-earnings ratio of 6.25, a PEG ratio of 4.92 and a beta of 0.99. Chord Energy has a 1 year low of $126.96 and a 1 year high of $190.23. The stock’s fifty day moving average is $145.95 and its two-hundred day moving average is $165.42.

Chord Energy (NASDAQ:CHRD) last issued its quarterly earnings results on Wednesday, August 7th. The company reported $4.69 EPS for the quarter, missing analysts’ consensus estimates of $5.00 by ($0.31). The business had revenue of $902.70 million for the quarter, compared to analyst estimates of $982.43 million. Chord Energy had a net margin of 20.83% and a return on equity of 15.06%. Chord Energy’s revenue for the quarter was up 29.8% on a year-over-year basis. During the same period last year, the business posted $3.65 earnings per share. On average, research analysts predict that Chord Energy will post 18.48 EPS for the current year.

Chord Energy Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 5th. Investors of record on Wednesday, August 21st were issued a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a dividend yield of 3.71%. The ex-dividend date was Wednesday, August 21st. Chord Energy’s payout ratio is 23.46%.

Insider Buying and Selling

In related news, Director Samantha Holroyd bought 500 shares of the firm’s stock in a transaction that occurred on Friday, August 23rd. The shares were acquired at an average cost of $149.51 per share, for a total transaction of $74,755.00. Following the acquisition, the director now directly owns 14,417 shares of the company’s stock, valued at approximately $2,155,485.67. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.70% of the company’s stock.

Hedge Funds Weigh In On Chord Energy

Hedge funds have recently modified their holdings of the stock. Rise Advisors LLC acquired a new position in shares of Chord Energy in the 1st quarter worth $31,000. Ashton Thomas Private Wealth LLC purchased a new position in shares of Chord Energy during the second quarter valued at $40,000. Benjamin F. Edwards & Company Inc. grew its holdings in shares of Chord Energy by 125.9% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 244 shares of the company’s stock valued at $41,000 after buying an additional 136 shares in the last quarter. GAMMA Investing LLC grew its holdings in shares of Chord Energy by 151.6% during the second quarter. GAMMA Investing LLC now owns 317 shares of the company’s stock valued at $53,000 after buying an additional 191 shares in the last quarter. Finally, Atlas Capital Advisors LLC purchased a new position in shares of Chord Energy during the second quarter valued at $60,000. 97.76% of the stock is currently owned by institutional investors and hedge funds.

About Chord Energy

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.