Royal Bank of Canada Issues Pessimistic Forecast for Chord Energy (NASDAQ:CHRD) Stock Price

Chord Energy (NASDAQ:CHRD - Free Report) had its price objective lowered by Royal Bank of Canada from $165.00 to $145.00 in a research report released on Friday,Benzinga reports. The firm currently has an outperform rating on the stock.

Other equities research analysts also recently issued research reports about the stock. Bank of America lowered their price objective on shares of Chord Energy from $138.00 to $125.00 and set a "neutral" rating for the company in a research report on Tuesday, April 1st. Mizuho decreased their price target 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. Morgan Stanley set a $139.00 price target on shares of Chord Energy and gave the stock a "cautious" rating in a research report on Wednesday, March 26th. Williams Trading set a $155.00 price target on Chord Energy in a research note on Wednesday, March 5th. Finally, Citigroup cut their price objective on Chord Energy from $135.00 to $120.00 and set a "buy" rating for the company in a report on Monday, April 7th. One investment 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 MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $157.00.

Chord Energy Stock Up 2.5 %

Shares of NASDAQ CHRD traded up $2.17 during mid-day trading on Friday, reaching $90.57. 291,524 shares of the company's stock were exchanged, compared to its average volume of 964,609. The company has a current ratio of 0.93, a quick ratio of 0.89 and a debt-to-equity ratio of 0.10. The business has a fifty day simple moving average of $105.26 and a 200 day simple moving average of $117.45. Chord Energy has a twelve month low of $79.83 and a twelve month high of $188.02. The firm has a market capitalization of $5.39 billion, a price-to-earnings ratio of 4.66, a PEG ratio of 5.83 and a beta of 0.96.

Chord Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 26th. Investors of record on Tuesday, March 11th were paid 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 5.74%. Chord Energy's dividend payout ratio is presently 32.62%.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Delta Capital Management LLC increased its stake in shares of Chord Energy by 4.3% in the fourth quarter. Delta Capital Management LLC now owns 2,200 shares of the company's stock valued at $257,000 after buying an additional 90 shares during the period. Gables Capital Management Inc. increased its position in shares of Chord Energy by 6.9% during the fourth quarter. Gables Capital Management Inc. now owns 1,550 shares of the company's stock worth $181,000 after buying an additional 100 shares during the period. Envestnet Portfolio Solutions Inc. raised its stake in Chord Energy by 2.9% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 3,710 shares of the company's stock worth $434,000 after buying an additional 106 shares during the last quarter. Exchange Traded Concepts LLC lifted its holdings in Chord Energy by 1.8% in the fourth quarter. Exchange Traded Concepts LLC now owns 6,145 shares of the company's stock valued at $718,000 after buying an additional 110 shares during the period. Finally, MGO One Seven LLC boosted its position in Chord Energy by 6.7% during the fourth quarter. MGO One Seven LLC now owns 1,775 shares of the company's stock valued at $208,000 after acquiring an additional 111 shares during the last quarter. 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.