Chord Energy (NASDAQ:CHRD) Coverage Initiated by Analysts at UBS Group

UBS Group started coverage on shares of Chord Energy (NASDAQ:CHRD) in a research report released on Wednesday, MarketBeat.com reports. The brokerage issued a buy rating and a $168.00 price objective on the stock.

Several other analysts have also commented on the stock. Wells Fargo & Company lowered their price objective on shares of Chord Energy from $200.00 to $185.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 1st. Citigroup lowered their price target on shares of Chord Energy from $195.00 to $180.00 and set a “buy” rating on the stock in a report on Monday, August 12th. Wolfe Research started coverage on Chord Energy in a report on Thursday, July 18th. They set a “peer perform” rating for the company. Piper Sandler boosted their target price on Chord Energy from $206.00 to $211.00 and gave the company an “overweight” rating in a research note on Tuesday. Finally, BMO Capital Markets dropped their price target on Chord Energy from $205.00 to $175.00 and set an “outperform” rating on the stock in a research report on Friday, October 4th. Two research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $190.18.

Chord Energy Price Performance

Shares of NASDAQ CHRD opened at $128.35 on Wednesday. The company has a quick ratio of 0.91, a current ratio of 0.96 and a debt-to-equity ratio of 0.11. The company has a market capitalization of $5.35 billion, a PE ratio of 6.02, a PEG ratio of 4.92 and a beta of 0.97. The stock’s 50 day moving average price is $140.35 and its 200-day moving average price is $162.89. Chord Energy has a twelve month low of $126.38 and a twelve month high of $190.23.

Chord Energy (NASDAQ:CHRD) last announced its earnings results on Wednesday, August 7th. The company reported $4.69 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.00 by ($0.31). The business had revenue of $902.70 million for the quarter, compared to analysts’ expectations of $982.43 million. Chord Energy had a net margin of 20.83% and a return on equity of 15.06%. The company’s revenue for the quarter was up 29.8% compared to the same quarter last year. During the same period in the prior year, the business earned $3.65 earnings per share. On average, equities analysts anticipate that Chord Energy will post 17.93 EPS for the current year.

Chord Energy Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 5th. Shareholders of record on Wednesday, August 21st were issued a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a yield of 3.90%. The ex-dividend date of this dividend was Wednesday, August 21st. Chord Energy’s payout ratio is presently 23.46%.

Insider Activity

In other news, Director Samantha Holroyd acquired 500 shares of the business’s stock in a transaction dated Friday, August 23rd. The stock was bought at an average cost of $149.51 per share, for a total transaction of $74,755.00. Following the completion of the transaction, the director now owns 14,417 shares of the company’s stock, valued at $2,155,485.67. The trade was a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.70% of the company’s stock.

Institutional Trading of Chord Energy

Several institutional investors and hedge funds have recently bought and sold shares of the company. Hexagon Capital Partners LLC grew its position in shares of Chord Energy by 462.9% during the 3rd quarter. Hexagon Capital Partners LLC now owns 197 shares of the company’s stock valued at $26,000 after purchasing an additional 162 shares in the last quarter. UMB Bank n.a. boosted its stake in Chord Energy by 77.7% during the third quarter. UMB Bank n.a. now owns 231 shares of the company’s stock valued at $30,000 after buying an additional 101 shares during the period. Rise Advisors LLC purchased a new position in Chord Energy during the first quarter worth about $31,000. Ashton Thomas Private Wealth LLC bought a new position in Chord Energy in the 2nd quarter worth about $40,000. Finally, Benjamin F. Edwards & Company Inc. raised its holdings in shares of Chord Energy by 125.9% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 244 shares of the company’s stock valued at $41,000 after acquiring an additional 136 shares in the last quarter. 97.76% of the stock is currently owned by hedge funds and other institutional investors.

About Chord Energy

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.