Chord Energy Corporation (NASDAQ:CHRD) Receives Consensus Rating of “Moderate Buy” from Analysts

Chord Energy Corporation (NASDAQ:CHRD) has received an average rating of “Moderate Buy” from the sixteen analysts that are currently covering the stock, Marketbeat.com reports. Five investment analysts have rated the stock with a hold recommendation and eleven have given a buy recommendation to the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $152.00.

CHRD has been the topic of several analyst reports. Zacks Research cut shares of Chord Energy from a “strong-buy” rating to a “hold” rating in a report on Tuesday, June 9th. Truist Financial lowered their price target on shares of Chord Energy from $185.00 to $170.00 and set a “buy” rating for the company in a report on Tuesday, July 7th. Mizuho increased their price objective on shares of Chord Energy from $164.00 to $175.00 and gave the company an “outperform” rating in a research report on Wednesday, May 27th. Williams Trading set a $189.00 price objective on shares of Chord Energy in a report on Monday, April 20th. Finally, Morgan Stanley lowered their target price on shares of Chord Energy from $175.00 to $169.00 and set an “overweight” rating for the company in a research note on Monday, June 29th.

Chord Energy Trading Down 0.9%

CHRD traded down $1.09 on Tuesday, hitting $117.39. The company had a trading volume of 691,357 shares, compared to its average volume of 866,133. The company’s fifty day moving average price is $131.92 and its 200 day moving average price is $119.69. Chord Energy has a 1 year low of $84.25 and a 1 year high of $151.95. The company has a current ratio of 1.02, a quick ratio of 0.96 and a debt-to-equity ratio of 0.18. The firm has a market cap of $6.61 billion, a P/E ratio of -103.88 and a beta of 0.49.

Chord Energy (NASDAQ:CHRD) last posted its quarterly earnings data on Tuesday, May 5th. The company reported $4.56 earnings per share for the quarter, topping analysts’ consensus estimates of $3.51 by $1.05. Chord Energy had a negative net margin of 1.25% and a positive return on equity of 7.06%. The firm had revenue of $1.67 billion during the quarter, compared to analysts’ expectations of $1.21 billion. During the same quarter last year, the company posted $4.04 EPS. The firm’s quarterly revenue was up 37.1% on a year-over-year basis. As a group, equities analysts expect that Chord Energy will post 18.13 earnings per share for the current year.

Chord Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 5th. Investors of record on Wednesday, May 20th were issued a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a yield of 4.4%. The ex-dividend date of this dividend was Wednesday, May 20th. Chord Energy’s dividend payout ratio is -460.18%.

Insiders Place Their Bets

In other news, COO Darrin J. Henke sold 1,276 shares of Chord Energy stock in a transaction dated Friday, May 15th. The stock was sold at an average price of $145.97, for a total transaction of $186,257.72. Following the sale, the chief operating officer owned 21,157 shares in the company, valued at approximately $3,088,287.29. The trade was a 5.69% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Douglas E. Brooks sold 3,500 shares of the company’s stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $136.71, for a total value of $478,485.00. Following the sale, the director directly owned 20,205 shares of the company’s stock, valued at approximately $2,762,225.55. This represents a 14.76% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 9,276 shares of company stock worth $1,285,968 over the last ninety days. Insiders own 0.79% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Bessemer Group Inc. increased its stake in Chord Energy by 63.8% in the first quarter. Bessemer Group Inc. now owns 190 shares of the company’s stock valued at $27,000 after purchasing an additional 74 shares during the last quarter. Versant Capital Management Inc raised its position in shares of Chord Energy by 330.9% in the 2nd quarter. Versant Capital Management Inc now owns 237 shares of the company’s stock worth $27,000 after buying an additional 182 shares during the period. V Square Quantitative Management LLC purchased a new stake in Chord Energy during the first quarter valued at about $29,000. WealthCollab LLC increased its position in Chord Energy by 90.6% during the 2nd quarter. WealthCollab LLC now owns 305 shares of the company’s stock worth $30,000 after purchasing an additional 145 shares in the last quarter. Finally, Root Financial Partners LLC increased its position in shares of Chord Energy by 178.6% in the first quarter. Root Financial Partners LLC now owns 234 shares of the company’s stock worth $33,000 after acquiring an additional 150 shares in the last quarter. 97.76% of the stock is owned by hedge funds and other institutional investors.

Chord Energy Company Profile

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.