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

Chord Energy Corporation (NASDAQ:CHRD) has been assigned an average rating of “Moderate Buy” from the fifteen analysts that are currently covering the company, Marketbeat Ratings reports. Five equities research analysts have rated the stock with a hold recommendation, nine have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $138.9167.

A number of research analysts recently commented on the company. UBS Group increased their price target on Chord Energy from $119.00 to $142.00 and gave the company a “buy” rating in a report on Thursday, March 5th. Piper Sandler increased their target price on Chord Energy from $158.00 to $190.00 and gave the company an “overweight” rating in a research note on Thursday, March 12th. Royal Bank Of Canada decreased their price target on shares of Chord Energy from $135.00 to $128.00 and set an “outperform” rating for the company in a research report on Tuesday, January 13th. Citigroup lifted their price target on shares of Chord Energy from $97.00 to $120.00 and gave the stock a “neutral” rating in a research note on Friday, March 6th. Finally, Pickering Energy Partners cut shares of Chord Energy from an “outperform” rating to a “neutral” rating in a report on Friday, January 9th.

Chord Energy Stock Performance

Chord Energy stock opened at $145.35 on Friday. Chord Energy has a 12-month low of $79.83 and a 12-month high of $146.93. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.06 and a quick ratio of 0.98. The company has a market capitalization of $8.24 billion, a price-to-earnings ratio of 230.71 and a beta of 0.84. The firm’s fifty day moving average price is $110.87 and its 200 day moving average price is $100.09.

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

Chord Energy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 27th. Stockholders of record on Thursday, March 12th were paid a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date was Thursday, March 12th. Chord Energy’s dividend payout ratio is 825.40%.

Insider Activity at Chord Energy

In related news, EVP Michael H. Lou sold 15,000 shares of the business’s stock in a transaction dated Thursday, March 12th. The stock was sold at an average price of $125.47, for a total value of $1,882,050.00. Following the completion of the sale, the executive vice president directly owned 82,699 shares of the company’s stock, valued at $10,376,243.53. The trade was a 15.35% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CAO Lara J. Kroll sold 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 3rd. The shares were sold at an average price of $113.66, for a total value of $568,300.00. Following the sale, the chief accounting officer owned 8,921 shares in the company, valued at $1,013,960.86. The trade was a 35.92% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 23,927 shares of company stock worth $2,912,028. 0.70% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Chord Energy

A number of institutional investors have recently made changes to their positions in the company. Hsbc Holdings PLC increased its holdings in shares of Chord Energy by 169.1% in the 4th quarter. Hsbc Holdings PLC now owns 164,220 shares of the company’s stock valued at $15,138,000 after acquiring an additional 103,202 shares during the last quarter. Rockefeller Capital Management L.P. lifted its stake in Chord Energy by 213.1% during the fourth quarter. Rockefeller Capital Management L.P. now owns 501 shares of the company’s stock worth $47,000 after purchasing an additional 341 shares during the last quarter. World Investment Advisors bought a new position in Chord Energy during the fourth quarter worth $408,000. Sankala Group LLC acquired a new position in Chord Energy in the fourth quarter worth $57,000. Finally, MidFirst Bank bought a new stake in Chord Energy during the fourth quarter valued at $115,000. 97.76% of the stock is currently owned by institutional investors.

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.