Chord Energy (NASDAQ:CHRD) PT Raised to $200.00 at Royal Bank of Canada

Chord Energy (NASDAQ:CHRD - Free Report) had its price target hoisted by Royal Bank of Canada from $180.00 to $200.00 in a research note released on Monday morning, Benzinga reports. The firm currently has an outperform rating on the stock.

Several other equities research analysts have also recently weighed in on the stock. Truist Financial reduced their target price on shares of Chord Energy from $229.00 to $224.00 and set a buy rating for the company in a research note on Friday, April 5th. Stifel Nicolaus lifted their price objective on Chord Energy from $178.00 to $211.00 and gave the stock a buy rating in a report on Tuesday, February 27th. Mizuho boosted their price objective on Chord Energy from $189.00 to $195.00 and gave the company a buy rating in a research report on Thursday, March 14th. Piper Sandler raised their target price on Chord Energy from $219.00 to $230.00 and gave the stock an overweight rating in a research report on Friday, April 19th. Finally, Bank of America lowered shares of Chord Energy from a buy rating to an underperform rating and lowered their price target for the company from $177.00 to $165.00 in a report on Friday, January 5th. One analyst has rated the stock with a sell rating, one has given a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, Chord Energy has a consensus rating of Moderate Buy and an average target price of $193.50.

Chord Energy Stock Performance

Shares of Chord Energy stock traded down $1.24 during trading on Monday, reaching $184.34. The company's stock had a trading volume of 509,182 shares, compared to its average volume of 655,834. Chord Energy has a one year low of $133.34 and a one year high of $190.23. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.16 and a current ratio of 1.22. The firm has a market cap of $7.66 billion, a price-to-earnings ratio of 7.85 and a beta of 1.06. The business's fifty day moving average price is $172.98 and its 200-day moving average price is $165.49.

Chord Energy (NASDAQ:CHRD - Get Free Report) last issued its quarterly earnings results on Wednesday, February 21st. The company reported $5.25 EPS for the quarter, topping analysts' consensus estimates of $5.04 by $0.21. Chord Energy had a return on equity of 16.35% and a net margin of 26.27%. The company had revenue of $964.69 million during the quarter, compared to analyst estimates of $891.67 million. As a group, equities research analysts predict that Chord Energy will post 22.03 earnings per share for the current year.

Chord Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 19th. Shareholders of record on Tuesday, March 5th were issued a dividend of $3.25 per share. The ex-dividend date of this dividend was Monday, March 4th. This is a boost from Chord Energy's previous quarterly dividend of $1.25. This represents a $13.00 dividend on an annualized basis and a dividend yield of 7.05%. Chord Energy's dividend payout ratio (DPR) is presently 21.25%.

Insider Activity

In related news, CFO Michael H. Lou sold 3,000 shares of the stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $154.15, for a total transaction of $462,450.00. Following the completion of the sale, the chief financial officer now owns 131,209 shares in the company, valued at approximately $20,225,867.35. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.70% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Rise Advisors LLC bought a new position in Chord Energy in the 1st quarter valued at $31,000. Contravisory Investment Management Inc. raised its holdings in shares of Chord Energy by 48.9% in the fourth quarter. Contravisory Investment Management Inc. now owns 259 shares of the company's stock valued at $43,000 after buying an additional 85 shares during the last quarter. SRS Capital Advisors Inc. lifted its position in Chord Energy by 306.9% during the 4th quarter. SRS Capital Advisors Inc. now owns 293 shares of the company's stock worth $49,000 after buying an additional 221 shares in the last quarter. Lindbrook Capital LLC lifted its position in Chord Energy by 67.6% during the 4th quarter. Lindbrook Capital LLC now owns 305 shares of the company's stock worth $51,000 after buying an additional 123 shares in the last quarter. Finally, Viking Fund Management LLC grew its holdings in Chord Energy by 40.0% during the 4th quarter. Viking Fund Management LLC now owns 350 shares of the company's stock worth $58,000 after acquiring an additional 100 shares during the last quarter. 97.76% of the stock is 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.