Wells Fargo & Company Lowers Chord Energy (NASDAQ:CHRD) Price Target to $158.00

Chord Energy (NASDAQ:CHRD - Free Report) had its target price reduced by Wells Fargo & Company from $166.00 to $158.00 in a research report sent to investors on Tuesday morning,Benzinga reports. They currently have an overweight rating on the stock.

Other equities analysts also recently issued research reports about the company. Williams Trading set a $155.00 price objective on Chord Energy in a report on Wednesday, March 5th. Royal Bank of Canada lowered their price target on shares of Chord Energy from $165.00 to $145.00 and set an "outperform" rating for the company in a research report on Friday, April 11th. Morgan Stanley set a $139.00 price objective on shares of Chord Energy and gave the stock a "cautious" rating in a research note on Wednesday, March 26th. Mizuho decreased their target price on shares of Chord Energy from $192.00 to $178.00 and set an "outperform" rating for the company in a research note on Monday, December 16th. Finally, Bank of America cut their price target on Chord Energy from $138.00 to $125.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 1st. One analyst has rated the stock with a sell rating, two have issued a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, Chord Energy currently has an average rating of "Moderate Buy" and a consensus target price of $157.00.

Chord Energy Stock Up 4.0 %

Shares of NASDAQ:CHRD traded up $3.59 during trading on Tuesday, hitting $94.43. The stock had a trading volume of 767,619 shares, compared to its average volume of 972,099. The company has a market capitalization of $5.62 billion, a PE ratio of 4.86, a PEG ratio of 5.83 and a beta of 0.96. The company has a quick ratio of 0.89, a current ratio of 0.93 and a debt-to-equity ratio of 0.10. The firm's fifty day moving average is $104.12 and its 200 day moving average is $116.67. Chord Energy has a 12 month low of $79.83 and a 12 month high of $188.02.

Chord Energy Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 26th. Stockholders of record on Tuesday, March 11th were issued a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a dividend yield of 5.51%. The ex-dividend date of this dividend was Tuesday, March 11th. This is an increase from Chord Energy's previous quarterly dividend of $1.25. Chord Energy's dividend payout ratio (DPR) is presently 32.62%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Pacer Advisors Inc. boosted its stake in shares of Chord Energy by 50.4% in the 4th quarter. Pacer Advisors Inc. now owns 1,872,156 shares of the company's stock worth $218,892,000 after buying an additional 627,122 shares during the last quarter. Victory Capital Management Inc. boosted its position in Chord Energy by 27.6% in the fourth quarter. Victory Capital Management Inc. now owns 2,864,456 shares of the company's stock worth $334,912,000 after purchasing an additional 619,021 shares during the last quarter. FMR LLC grew its stake in shares of Chord Energy by 11.5% during the 4th quarter. FMR LLC now owns 3,814,384 shares of the company's stock valued at $445,978,000 after purchasing an additional 394,372 shares during the period. Encompass Capital Advisors LLC purchased a new stake in shares of Chord Energy during the 4th quarter valued at about $43,745,000. Finally, Squarepoint Ops LLC boosted its holdings in shares of Chord Energy by 365.5% in the fourth quarter. Squarepoint Ops LLC now owns 337,284 shares of the company's stock worth $39,435,000 after buying an additional 264,828 shares during the last quarter. Institutional investors own 97.76% of the company's stock.

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.