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

Chord Energy Corporation (NASDAQ:CHRD) has been given a consensus recommendation of “Moderate Buy” by the fifteen brokerages that are currently covering the company, MarketBeat.com reports. Five research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $157.5385.

CHRD has been the subject of several analyst reports. Roth Mkm restated a “buy” rating and issued a $140.00 target price (up from $130.00) on shares of Chord Energy in a report on Friday, April 17th. Citigroup upped their target price on Chord Energy from $120.00 to $155.00 and gave the company a “neutral” rating in a report on Tuesday, March 31st. Mizuho upped their target price on Chord Energy from $164.00 to $175.00 and gave the company an “outperform” rating in a report on Wednesday, May 27th. Scotiabank upped their target price on Chord Energy from $114.00 to $135.00 and gave the company a “sector perform” rating in a report on Wednesday, April 22nd. Finally, Weiss Ratings upgraded Chord Energy from a “sell (d+)” rating to a “hold (c-)” rating in a report on Tuesday, March 17th.

Insiders Place Their Bets

In other news, Director Douglas E. Brooks sold 3,500 shares of the stock in a transaction on Friday, May 8th. The stock was sold at an average price of $136.71, for a total transaction of $478,485.00. Following the completion of the transaction, the director directly owned 20,205 shares in the company, valued at approximately $2,762,225.55. This represents a 14.76% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Darrin J. Henke sold 1,276 shares of the stock in a transaction on Friday, May 15th. The stock was sold at an average price of $145.97, for a total value of $186,257.72. Following the transaction, the chief operating officer owned 21,157 shares of the company’s stock, valued at approximately $3,088,287.29. This represents a 5.69% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 9,276 shares of company stock valued at $1,285,968. Company insiders own 0.79% of the company’s stock.

Hedge Funds Weigh In On Chord Energy

Several hedge funds have recently bought and sold shares of the company. Bessemer Group Inc. lifted its stake in Chord Energy by 63.8% during the 1st quarter. Bessemer Group Inc. now owns 190 shares of the company’s stock worth $27,000 after acquiring an additional 74 shares in the last quarter. Blue Trust Inc. raised its position in shares of Chord Energy by 22.2% during the 1st quarter. Blue Trust Inc. now owns 463 shares of the company’s stock worth $66,000 after acquiring an additional 84 shares in the last quarter. SBI Securities Co. Ltd. raised its position in shares of Chord Energy by 16.5% during the 4th quarter. SBI Securities Co. Ltd. now owns 797 shares of the company’s stock worth $74,000 after acquiring an additional 113 shares in the last quarter. WealthCollab LLC raised its position in shares of Chord Energy by 90.6% during the 2nd quarter. WealthCollab LLC now owns 305 shares of the company’s stock worth $30,000 after acquiring an additional 145 shares in the last quarter. Finally, Root Financial Partners LLC raised its position in shares of Chord Energy by 178.6% during the 1st 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. Institutional investors and hedge funds own 97.76% of the company’s stock.

Chord Energy Stock Down 3.3%

Chord Energy stock opened at $133.74 on Friday. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.02 and a quick ratio of 0.96. Chord Energy has a 12 month low of $84.25 and a 12 month high of $151.95. The stock has a market capitalization of $7.53 billion, a PE ratio of -118.35 and a beta of 0.48. The business has a 50 day simple moving average of $138.50 and a 200-day simple moving average of $116.11.

Chord Energy (NASDAQ:CHRD) last issued its quarterly earnings results on Tuesday, May 5th. The company reported $4.56 EPS for the quarter, topping the consensus estimate of $3.51 by $1.05. Chord Energy had a positive return on equity of 7.06% and a negative net margin of 1.25%.The firm had revenue of $1.67 billion during the quarter, compared to analysts’ expectations of $1.21 billion. During the same period in the previous year, the business earned $4.04 earnings per share. The firm’s revenue for the quarter was up 37.1% on a year-over-year basis. On average, analysts anticipate that Chord Energy will post 20.53 EPS for the current fiscal year.

Chord Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 5th. Stockholders of record on Wednesday, May 20th were issued a dividend of $1.30 per share. The ex-dividend date was Wednesday, May 20th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 3.9%. Chord Energy’s dividend payout ratio is currently -460.18%.

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.