Chord Energy Co. (NASDAQ:CHRD) Receives $164.62 Consensus PT from Analysts

Chord Energy Co. (NASDAQ:CHRD) has earned an average recommendation of “Moderate Buy” from the thirteen ratings firms that are presently covering the firm, Marketbeat reports. One analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation, eight have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year target price among brokers that have covered the stock in the last year is $164.62.

A number of equities research analysts have weighed in on the stock. Wolfe Research upgraded shares of Chord Energy from a “peer perform” rating to an “outperform” rating and set a $155.00 price target for the company in a research report on Friday, January 3rd. Citigroup lowered shares of Chord Energy to a “reduce” rating in a research note on Wednesday, March 5th. Williams Trading set a $155.00 price objective on shares of Chord Energy in a research note on Wednesday, March 5th. Mizuho lowered their price objective on shares of Chord Energy from $192.00 to $178.00 and set an “outperform” rating for the company in a research note on Monday, December 16th. Finally, Truist Financial raised their price objective on shares of Chord Energy from $185.00 to $186.00 and gave the company a “buy” rating in a research note on Monday, January 13th.

Institutional Trading of Chord Energy

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Delta Capital Management LLC raised its holdings in Chord Energy by 4.3% during the fourth quarter. Delta Capital Management LLC now owns 2,200 shares of the company’s stock worth $257,000 after purchasing an additional 90 shares in the last quarter. Commerce Bank raised its holdings in Chord Energy by 4.3% during the third quarter. Commerce Bank now owns 2,361 shares of the company’s stock worth $307,000 after purchasing an additional 98 shares in the last quarter. Gables Capital Management Inc. raised its holdings in Chord Energy by 6.9% during the fourth quarter. Gables Capital Management Inc. now owns 1,550 shares of the company’s stock worth $181,000 after purchasing an additional 100 shares in the last quarter. Envestnet Portfolio Solutions Inc. raised its holdings in Chord Energy by 2.9% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 3,710 shares of the company’s stock worth $434,000 after purchasing an additional 106 shares in the last quarter. Finally, Exchange Traded Concepts LLC raised its holdings in Chord Energy by 1.8% during the fourth quarter. Exchange Traded Concepts LLC now owns 6,145 shares of the company’s stock worth $718,000 after purchasing an additional 110 shares in the last quarter. Institutional investors and hedge funds own 97.76% of the company’s stock.

Chord Energy Price Performance

Shares of CHRD opened at $109.71 on Wednesday. Chord Energy has a 1-year low of $99.40 and a 1-year high of $190.23. The stock has a market cap of $6.54 billion, a PE ratio of 5.65, a P/E/G ratio of 5.83 and a beta of 0.98. The firm has a 50-day simple moving average of $112.92 and a two-hundred day simple moving average of $121.91. 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 Increases Dividend

The business also recently disclosed 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. The ex-dividend date of this dividend is Tuesday, March 11th. This represents a $5.20 dividend on an annualized basis and a yield of 4.74%. This is a boost from Chord Energy’s previous quarterly dividend of $1.25. Chord Energy’s dividend payout ratio (DPR) is presently 32.62%.

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.