Mizuho Has Lowered Expectations for Chord Energy (NASDAQ:CHRD) Stock Price

Chord Energy (NASDAQ:CHRD) had its target price lowered by Mizuho from $192.00 to $178.00 in a report released on Monday,Benzinga reports. The firm currently has an outperform rating on the stock.

Other equities analysts have also issued research reports about the stock. UBS Group lowered their price target on shares of Chord Energy from $168.00 to $161.00 and set a “buy” rating for the company in a research report on Monday, December 9th. Royal Bank of Canada decreased their target price on shares of Chord Energy from $185.00 to $180.00 and set an “outperform” rating for the company in a research report on Wednesday, November 20th. Truist Financial dropped their price target on shares of Chord Energy from $223.00 to $185.00 and set a “buy” rating on the stock in a research note on Monday, September 30th. Siebert Williams Shank upgraded Chord Energy to a “strong-buy” rating in a research report on Tuesday, October 15th. Finally, BMO Capital Markets lowered their target price on Chord Energy from $205.00 to $175.00 and set an “outperform” rating on the stock in a research report on Friday, October 4th. Two investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Chord Energy has a consensus rating of “Moderate Buy” and a consensus target price of $182.55.

Chord Energy Stock Performance

Shares of CHRD stock opened at $111.54 on Monday. The company has a market cap of $6.82 billion, a P/E ratio of 5.74, a PEG ratio of 4.79 and a beta of 0.96. The business has a 50 day moving average of $127.08 and a two-hundred day moving average of $145.54. Chord Energy has a 52 week low of $111.50 and a 52 week high of $190.23. The company has a quick ratio of 0.89, a current ratio of 0.93 and a debt-to-equity ratio of 0.10.

Chord Energy (NASDAQ:CHRD) last released its quarterly earnings data on Wednesday, November 6th. The company reported $3.40 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.63 by ($0.23). The company had revenue of $1.12 billion for the quarter, compared to analyst estimates of $1.26 billion. Chord Energy had a net margin of 19.74% and a return on equity of 12.88%. The company’s revenue for the quarter was up 33.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $5.04 EPS. As a group, analysts anticipate that Chord Energy will post 16.5 EPS for the current year.

Chord Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Wednesday, November 27th were issued a $1.25 dividend. The ex-dividend date was Wednesday, November 27th. This represents a $5.00 annualized dividend and a dividend yield of 4.48%. Chord Energy’s dividend payout ratio (DPR) is 25.75%.

Insider Buying and Selling

In related news, CAO Shannon Browning Kinney sold 1,000 shares of the stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $121.27, for a total transaction of $121,270.00. Following the completion of the sale, the chief accounting officer now directly owns 20,488 shares of the company’s stock, valued at $2,484,579.76. This represents a 4.65 % decrease in their ownership of the stock. The transaction was disclosed in a document filed 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

Institutional investors have recently modified their holdings of the stock. Hexagon Capital Partners LLC boosted its stake in shares of Chord Energy by 462.9% during the 3rd quarter. Hexagon Capital Partners LLC now owns 197 shares of the company’s stock worth $26,000 after acquiring an additional 162 shares in the last quarter. Stone House Investment Management LLC purchased a new stake in shares of Chord Energy during the third quarter valued at $26,000. UMB Bank n.a. boosted its position in shares of Chord Energy by 77.7% in the 3rd quarter. UMB Bank n.a. now owns 231 shares of the company’s stock valued at $30,000 after purchasing an additional 101 shares during the period. Spartan Fund Management Inc. purchased a new position in Chord Energy in the 3rd quarter worth about $34,000. Finally, Ashton Thomas Private Wealth LLC acquired a new stake in Chord Energy during the 2nd quarter worth about $40,000. Institutional investors own 97.76% of the company’s stock.

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.