Chord Energy Corporation (NASDAQ:CHRD) Receives Average Recommendation of “Moderate Buy” from Brokerages

Shares of Chord Energy Corporation (NASDAQ:CHRD) have earned a consensus rating of “Moderate Buy” from the thirteen analysts that are presently covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, one has given a hold recommendation, ten have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $152.54.

Several analysts have recently commented on the company. Wells Fargo & Company decreased their target price on Chord Energy from $158.00 to $142.00 and set an “overweight” rating for the company in a research report on Monday, June 16th. Williams Trading set a $155.00 target price on Chord Energy in a research report on Wednesday, March 5th. Wall Street Zen cut Chord Energy from a “hold” rating to a “sell” rating in a research report on Friday, May 30th. Bank of America decreased their target price on Chord Energy from $114.00 to $112.00 and set a “buy” rating for the company in a research report on Friday, May 23rd. Finally, Piper Sandler decreased their target price on Chord Energy from $184.00 to $183.00 and set an “overweight” rating for the company in a research report on Tuesday, April 22nd.

Insider Activity at Chord Energy

In other Chord Energy news, EVP Shannon Browning Kinney sold 3,091 shares of the firm’s stock in a transaction dated Thursday, May 8th. The stock was sold at an average price of $94.10, for a total transaction of $290,863.10. Following the transaction, the executive vice president now directly owns 21,277 shares in the company, valued at $2,002,165.70. This trade represents a 12.68% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.70% of the company’s stock.

Hedge Funds Weigh In On Chord Energy

Several institutional investors have recently bought and sold shares of the stock. Gables Capital Management Inc. raised its holdings in Chord Energy by 6.9% during the fourth quarter. Gables Capital Management Inc. now owns 1,550 shares of the company’s stock valued at $181,000 after buying an additional 100 shares in the last quarter. Envestnet Portfolio Solutions Inc. raised its holdings in Chord Energy by 2.9% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 3,710 shares of the company’s stock valued at $434,000 after buying an additional 106 shares in the last quarter. National Bank of Canada FI raised its holdings in Chord Energy by 2.1% during the first quarter. National Bank of Canada FI now owns 5,258 shares of the company’s stock valued at $592,000 after buying an additional 106 shares in the last quarter. Voya Investment Management LLC raised its holdings in Chord Energy by 1.4% during the first quarter. Voya Investment Management LLC now owns 7,579 shares of the company’s stock valued at $854,000 after buying an additional 107 shares in the last quarter. Finally, MGO One Seven LLC raised its holdings 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 buying an additional 111 shares in the last quarter. 97.76% of the stock is currently owned by institutional investors.

Chord Energy Stock Performance

CHRD opened at $99.35 on Friday. The firm has a market cap of $5.74 billion, a PE ratio of 6.65, a P/E/G ratio of 6.77 and a beta of 0.96. The company has a quick ratio of 0.83, a current ratio of 0.89 and a debt-to-equity ratio of 0.09. The business has a fifty day simple moving average of $95.61 and a 200-day simple moving average of $105.50. Chord Energy has a fifty-two week low of $79.83 and a fifty-two week high of $181.17.

Chord Energy (NASDAQ:CHRD) last released its quarterly earnings data on Tuesday, May 6th. The company reported $4.04 earnings per share for the quarter, topping the consensus estimate of $3.60 by $0.44. The business had revenue of $1.22 billion during the quarter, compared to analyst estimates of $1.07 billion. Chord Energy had a return on equity of 10.34% and a net margin of 16.15%. The company’s revenue was up 12.0% compared to the same quarter last year. During the same period last year, the company posted $5.10 EPS. As a group, equities analysts predict that Chord Energy will post 15.59 EPS for the current fiscal year.

Chord Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 9th. Investors of record on Wednesday, May 21st were given a dividend of $1.30 per share. The ex-dividend date was Wednesday, May 21st. This represents a $5.20 dividend on an annualized basis and a yield of 5.23%. Chord Energy’s payout ratio is 34.78%.

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.