Shares of Chord Energy Co. (NASDAQ:CHRD - Get Free Report) reached a new 52-week high during mid-day trading on Monday . The company traded as high as $185.98 and last traded at $183.81, with a volume of 35817 shares trading hands. The stock had previously closed at $184.66.
Wall Street Analysts Forecast Growth
Several equities analysts have weighed in on the company. Bank of America downgraded Chord Energy from a "buy" rating to an "underperform" rating and dropped their price target for the stock from $177.00 to $165.00 in a research report on Friday, January 5th. Piper Sandler lifted their price objective on Chord Energy from $218.00 to $219.00 and gave the stock an "overweight" rating in a research report on Thursday, March 7th. Mizuho upped their target price on shares of Chord Energy from $189.00 to $195.00 and gave the company a "buy" rating in a report on Thursday, March 14th. Truist Financial lowered their price target on shares of Chord Energy from $229.00 to $224.00 and set a "buy" rating for the company in a report on Friday. Finally, Stifel Nicolaus upped their price objective on shares of Chord Energy from $178.00 to $211.00 and gave the company a "buy" rating in a research note on Tuesday, February 27th. One analyst has rated the stock with a sell rating, one has issued a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, Chord Energy currently has an average rating of "Moderate Buy" and an average target price of $190.40.
Check Out Our Latest Analysis on Chord Energy
Chord Energy Stock Performance
The company has a market cap of $7.64 billion, a PE ratio of 7.82 and a beta of 1.06. The stock's 50 day simple moving average is $165.18 and its two-hundred day simple moving average is $163.11. The company has a quick ratio of 1.16, a current ratio of 1.22 and a debt-to-equity ratio of 0.08.
Chord Energy (NASDAQ:CHRD - Get Free Report) last issued its earnings results on Wednesday, February 21st. The company reported $5.25 earnings per share for the quarter, beating analysts' consensus estimates of $5.04 by $0.21. The firm had revenue of $964.69 million for the quarter, compared to analysts' expectations of $891.67 million. Chord Energy had a return on equity of 16.35% and a net margin of 26.27%. As a group, research analysts anticipate that Chord Energy Co. will post 21.75 earnings per share for the current year.
Chord Energy Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 19th. Investors of record on Tuesday, March 5th were given a dividend of $3.25 per share. This represents a $13.00 dividend on an annualized basis and a yield of 7.06%. The ex-dividend date was Monday, March 4th. This is an increase from Chord Energy's previous quarterly dividend of $1.25. Chord Energy's dividend payout ratio is 21.25%.
Insider Activity at Chord Energy
In related news, CFO Michael H. Lou sold 3,000 shares of Chord Energy stock in a transaction on Friday, February 16th. The shares were sold at an average price of $165.00, for a total transaction of $495,000.00. Following the transaction, the chief financial officer now owns 128,209 shares in the company, valued at approximately $21,154,485. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.70% of the stock is currently owned by insiders.
Institutional Investors Weigh In On Chord Energy
A number of large investors have recently modified their holdings of CHRD. Vest Financial LLC boosted its holdings in Chord Energy by 36.0% in the 4th quarter. Vest Financial LLC now owns 79,293 shares of the company's stock worth $13,181,000 after acquiring an additional 20,995 shares during the period. Natixis Advisors L.P. boosted its stake in shares of Chord Energy by 68.5% in the third quarter. Natixis Advisors L.P. now owns 38,458 shares of the company's stock valued at $6,233,000 after purchasing an additional 15,632 shares during the period. Vanguard Group Inc. grew its holdings in Chord Energy by 0.5% during the 3rd quarter. Vanguard Group Inc. now owns 4,351,393 shares of the company's stock valued at $705,230,000 after purchasing an additional 21,034 shares in the last quarter. Invesco Ltd. boosted its position in Chord Energy by 7.9% in the 3rd quarter. Invesco Ltd. now owns 444,627 shares of the company's stock valued at $72,061,000 after buying an additional 32,429 shares during the last quarter. Finally, Wellington Management Group LLP increased its position in shares of Chord Energy by 1.0% during the third quarter. Wellington Management Group LLP now owns 2,671,474 shares of the company's stock worth $432,966,000 after acquiring an additional 26,896 shares during the last quarter. Institutional investors and hedge funds own 97.76% of the company's stock.
Chord Energy Company Profile
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Get Free Report)
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.
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