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

Chord Energy Co. (NASDAQ:CHRD) has earned an average rating of “Moderate Buy” from the fourteen research firms that are presently covering the company, MarketBeat.com reports. Three research analysts have rated the stock with a hold recommendation, ten have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price target among brokers that have covered the stock in the last year is $173.08.

CHRD has been the topic of several analyst reports. Mizuho lowered their price objective on Chord Energy from $192.00 to $178.00 and set an “outperform” rating on the stock in a research report on Monday, December 16th. Truist Financial increased their price objective on Chord Energy from $185.00 to $186.00 and gave the company a “buy” rating in a research report on Monday, January 13th. Bank of America reiterated a “neutral” rating and issued a $138.00 price objective (down from $208.00) on shares of Chord Energy in a report on Monday, January 13th. Royal Bank of Canada dropped their price target on shares of Chord Energy from $185.00 to $180.00 and set an “outperform” rating on the stock in a report on Wednesday, November 20th. Finally, Piper Sandler reduced their price target on shares of Chord Energy from $194.00 to $193.00 and set an “overweight” rating for the company in a research note on Wednesday, January 15th.

Insider Buying and Selling at Chord Energy

In other Chord Energy news, CAO Shannon Browning Kinney sold 1,000 shares of the company’s stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $116.35, for a total value of $116,350.00. Following the completion of the transaction, the chief accounting officer now directly owns 19,488 shares in the company, valued at $2,267,428.80. This represents a 4.88 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.70% of the stock is currently owned by corporate insiders.

Institutional Trading of Chord Energy

Several institutional investors and hedge funds have recently modified their holdings of CHRD. Victory Capital Management Inc. increased its stake in Chord Energy by 41.3% in the 3rd quarter. Victory Capital Management Inc. now owns 2,245,435 shares of the company’s stock worth $292,423,000 after buying an additional 656,374 shares in the last quarter. Merit Financial Group LLC purchased a new stake in shares of Chord Energy during the fourth quarter worth about $553,000. Geode Capital Management LLC grew its position in shares of Chord Energy by 3.0% during the third quarter. Geode Capital Management LLC now owns 1,162,442 shares of the company’s stock worth $151,077,000 after purchasing an additional 34,156 shares in the last quarter. Bank of Montreal Can raised its stake in Chord Energy by 956.5% during the 2nd quarter. Bank of Montreal Can now owns 58,359 shares of the company’s stock valued at $9,873,000 after purchasing an additional 52,835 shares during the period. Finally, Arkfeld Wealth Strategies L.L.C. lifted its holdings in Chord Energy by 3.5% in the 4th quarter. Arkfeld Wealth Strategies L.L.C. now owns 92,211 shares of the company’s stock worth $11,596,000 after purchasing an additional 3,151 shares in the last quarter. 97.76% of the stock is currently owned by institutional investors.

Chord Energy Price Performance

Shares of NASDAQ:CHRD opened at $110.97 on Tuesday. The company has a market capitalization of $6.78 billion, a PE ratio of 5.71, a PEG ratio of 5.67 and a beta of 0.98. The business has a fifty day moving average price of $119.62 and a 200-day moving average price of $133.21. Chord Energy has a 1-year low of $109.44 and a 1-year high of $190.23. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.93 and a quick ratio of 0.89.

Chord Energy (NASDAQ:CHRD) last released its quarterly earnings data on Wednesday, November 6th. The company reported $3.40 earnings per share for the quarter, missing analysts’ consensus estimates of $3.63 by ($0.23). The firm had revenue of $1.12 billion for the quarter, compared to the consensus estimate of $1.26 billion. Chord Energy had a net margin of 19.74% and a return on equity of 12.88%. The firm’s revenue for the quarter was up 33.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $5.04 earnings per share. As a group, equities analysts expect 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 Thursday, December 12th. Investors of record on Wednesday, November 27th were given a dividend of $1.25 per share. The ex-dividend date was Wednesday, November 27th. This represents a $5.00 annualized dividend and a yield of 4.51%. Chord Energy’s dividend payout ratio (DPR) is presently 25.75%.

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.