Chord Energy Corporation (NASDAQ:CHRD) Given Average Recommendation of “Hold” by Brokerages

Chord Energy Corporation (NASDAQ:CHRD) has been given an average rating of “Hold” by the fourteen ratings firms that are presently covering the firm, Marketbeat reports. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and eight have given a buy rating to the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $123.9167.

CHRD has been the subject of a number of recent research reports. William Blair started coverage on shares of Chord Energy in a report on Friday, November 21st. They issued an “outperform” rating for the company. Royal Bank Of Canada reduced their price objective on shares of Chord Energy from $135.00 to $128.00 and set an “outperform” rating for the company in a research note on Tuesday, January 13th. Mizuho set a $148.00 target price on shares of Chord Energy in a research report on Friday, January 9th. Scotiabank reaffirmed a “sector perform” rating and issued a $114.00 price target on shares of Chord Energy in a report on Friday, January 16th. Finally, Weiss Ratings lowered Chord Energy from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday.

Chord Energy Stock Performance

Shares of NASDAQ:CHRD opened at $112.34 on Wednesday. The firm’s 50 day simple moving average is $97.77 and its 200-day simple moving average is $97.20. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.98 and a current ratio of 1.06. Chord Energy has a one year low of $79.83 and a one year high of $116.26. The firm has a market cap of $6.39 billion, a PE ratio of 178.32 and a beta of 0.84.

Chord Energy (NASDAQ:CHRD) last released its quarterly earnings data on Wednesday, February 25th. The company reported $1.28 earnings per share for the quarter, beating the consensus estimate of $1.17 by $0.11. Chord Energy had a return on equity of 6.71% and a net margin of 0.91%.The firm had revenue of $1.17 billion during the quarter, compared to the consensus estimate of $1.03 billion. During the same period in the previous year, the company posted $3.49 earnings per share. The firm’s quarterly revenue was down 19.6% on a year-over-year basis. As a group, equities analysts predict that Chord Energy will post 15.59 EPS for the current year.

Chord Energy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 27th. Investors of record on Thursday, March 12th will be given a $1.30 dividend. The ex-dividend date is Thursday, March 12th. This represents a $5.20 dividend on an annualized basis and a yield of 4.6%. Chord Energy’s dividend payout ratio is currently 825.40%.

Hedge Funds Weigh In On Chord Energy

Several large investors have recently made changes to their positions in the company. Massachusetts Financial Services Co. MA purchased a new position in shares of Chord Energy in the 3rd quarter valued at about $91,434,000. Orion Porfolio Solutions LLC raised its stake in shares of Chord Energy by 6,714.2% during the 2nd quarter. Orion Porfolio Solutions LLC now owns 709,086 shares of the company’s stock worth $68,675,000 after buying an additional 698,680 shares during the period. Dimensional Fund Advisors LP grew its stake in Chord Energy by 85.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,218,167 shares of the company’s stock valued at $112,927,000 after acquiring an additional 561,899 shares during the period. AQR Capital Management LLC increased its holdings in Chord Energy by 210.5% in the 2nd quarter. AQR Capital Management LLC now owns 734,225 shares of the company’s stock worth $71,110,000 after acquiring an additional 497,789 shares in the last quarter. Finally, Barclays PLC raised its position in Chord Energy by 186.2% during the third quarter. Barclays PLC now owns 501,170 shares of the company’s stock worth $49,801,000 after acquiring an additional 326,054 shares during the period. 97.76% of the stock is currently owned by institutional investors and hedge funds.

About Chord Energy

Chord Energy Corporation (NASDAQ: CHRD), formerly known as Oasis Petroleum Inc, is an independent exploration and production company focused on the acquisition, development and production of crude oil, natural gas and natural gas liquids. Headquartered in Houston, Texas, Chord Energy emerged from financial restructuring in early 2021 and rebranded in October 2022 to reflect its renewed strategic vision.

The company’s core operations are concentrated in two prolific U.S. resource plays: the Williston Basin across North Dakota and Montana, and the Delaware Basin spanning parts of West Texas and southeastern New Mexico.