Chord Energy Corporation (NASDAQ:CHRD) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of Chord Energy Corporation (NASDAQ:CHRD) have earned an average recommendation of “Moderate Buy” from the fourteen analysts that are currently covering the stock, MarketBeat.com reports. Three investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $137.6923.

A number of analysts have recently weighed in on CHRD shares. Bank of America increased their price objective on Chord Energy from $112.00 to $123.00 and gave the company a “buy” rating in a research note on Wednesday, September 17th. Scotiabank started coverage on shares of Chord Energy in a report on Friday, September 19th. They issued a “sector perform” rating and a $120.00 price target on the stock. William Blair began coverage on shares of Chord Energy in a research report on Friday. They issued an “outperform” rating on the stock. Royal Bank Of Canada reiterated an “outperform” rating and set a $130.00 target price on shares of Chord Energy in a report on Monday, October 6th. Finally, Wall Street Zen cut Chord Energy from a “hold” rating to a “sell” rating in a research note on Saturday, November 1st.

Chord Energy Stock Performance

NASDAQ CHRD opened at $91.58 on Monday. The company has a 50-day simple moving average of $94.45 and a two-hundred day simple moving average of $99.36. Chord Energy has a 12-month low of $79.83 and a 12-month high of $134.54. The firm has a market cap of $5.21 billion, a price-to-earnings ratio of 35.22 and a beta of 0.92. The company has a quick ratio of 1.28, a current ratio of 1.35 and a debt-to-equity ratio of 0.18.

Chord Energy (NASDAQ:CHRD) last released its earnings results on Tuesday, November 4th. The company reported $2.35 earnings per share for the quarter, beating analysts’ consensus estimates of $2.24 by $0.11. The company had revenue of $1.31 billion during the quarter, compared to analyst estimates of $1.02 billion. Chord Energy had a return on equity of 8.27% and a net margin of 3.31%.Chord Energy’s revenue for the quarter was up 17.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $3.40 EPS. On average, equities analysts forecast that Chord Energy will post 15.59 EPS for the current year.

Chord Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 5th. Investors of record on Wednesday, November 19th will be issued a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a dividend yield of 5.7%. The ex-dividend date is Wednesday, November 19th. Chord Energy’s dividend payout ratio is currently 200.00%.

Insiders Place Their Bets

In related news, Director Samantha Holroyd acquired 1,250 shares of Chord Energy stock in a transaction on Friday, November 7th. The shares were acquired at an average cost of $85.50 per share, with a total value of $106,875.00. Following the transaction, the director owned 17,706 shares in the company, valued at $1,513,863. This trade represents a 7.60% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 0.70% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Chord Energy

A number of large investors have recently modified their holdings of CHRD. Advisory Services Network LLC bought a new position in Chord Energy in the third quarter worth about $122,000. Abel Hall LLC bought a new position in shares of Chord Energy in the 3rd quarter worth approximately $244,000. Caxton Associates LLP bought a new position in shares of Chord Energy in the 3rd quarter worth approximately $1,529,000. Triumph Capital Management purchased a new position in shares of Chord Energy in the 3rd quarter valued at approximately $56,000. Finally, Scientech Research LLC bought a new stake in shares of Chord Energy during the third quarter valued at approximately $1,001,000. Institutional investors own 97.76% of the company’s stock.

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.