Chord Energy Co. (NASDAQ:CHRD) Receives Average Recommendation of “Moderate Buy” from Analysts

Chord Energy Co. (NASDAQ:CHRD) has been assigned an average recommendation of “Moderate Buy” from the thirteen analysts that are presently covering the firm, Marketbeat reports. Three research analysts have rated the stock with a hold recommendation, nine have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year target price among analysts that have covered the stock in the last year is $169.92.

A number of analysts have recently issued reports on CHRD shares. UBS Group cut their price target on shares of Chord Energy from $168.00 to $161.00 and set a “buy” rating for the company in a report on Monday, December 9th. Royal Bank of Canada cut their target price on Chord Energy from $185.00 to $180.00 and set an “outperform” rating for the company in a research note on Wednesday, November 20th. Wolfe Research raised Chord Energy from a “peer perform” rating to an “outperform” rating and set a $155.00 price target on the stock in a research note on Friday, January 3rd. Morgan Stanley started coverage on Chord Energy in a report on Friday, January 10th. They set an “equal weight” rating and a $158.00 price target for the company. Finally, Wells Fargo & Company reduced their price objective on shares of Chord Energy from $176.00 to $175.00 and set an “overweight” rating on the stock in a report on Wednesday, January 15th.

Insider Activity at Chord Energy

In other Chord Energy news, CAO Shannon Browning Kinney sold 1,000 shares of the company’s stock in a transaction on Monday, December 9th. The shares were sold at an average price of $121.27, for a total value of $121,270.00. Following the completion of the transaction, the chief accounting officer now owns 20,488 shares in the company, valued at $2,484,579.76. This represents a 4.65 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.70% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Chord Energy

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Ascent Group LLC increased its holdings in shares of Chord Energy by 11.1% in the 4th quarter. Ascent Group LLC now owns 17,300 shares of the company’s stock valued at $2,023,000 after acquiring an additional 1,731 shares during the period. GF Fund Management CO. LTD. purchased a new position in Chord Energy during the 4th quarter worth $2,197,000. GTS Securities LLC acquired a new position in Chord Energy in the fourth quarter valued at $1,183,000. CSS LLC IL raised its holdings in shares of Chord Energy by 30.9% in the fourth quarter. CSS LLC IL now owns 21,157 shares of the company’s stock valued at $2,474,000 after buying an additional 4,994 shares during the last quarter. Finally, Worldquant Millennium Advisors LLC acquired a new stake in shares of Chord Energy during the fourth quarter worth about $11,534,000. Hedge funds and other institutional investors own 97.76% of the company’s stock.

Chord Energy Stock Up 4.4 %

NASDAQ CHRD opened at $113.30 on Friday. The business’s fifty day simple moving average is $116.30 and its 200-day simple moving average is $127.15. The company has a quick ratio of 0.89, a current ratio of 0.93 and a debt-to-equity ratio of 0.10. The firm has a market cap of $6.93 billion, a PE ratio of 5.83, a P/E/G ratio of 5.83 and a beta of 0.98. Chord Energy has a 52 week low of $107.24 and a 52 week high of $190.23.

Chord Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 26th. Shareholders of record on Tuesday, March 11th will be issued a dividend of $1.30 per share. This is an increase from Chord Energy’s previous quarterly dividend of $1.25. The ex-dividend date is Tuesday, March 11th. This represents a $5.20 annualized dividend and a yield of 4.59%. Chord Energy’s dividend payout ratio is 31.37%.

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.