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

Shares of Chord Energy Co. (NASDAQ:CHRD) have earned an average recommendation of “Moderate Buy” from the ten analysts that are currently covering the firm, MarketBeat reports. One investment analyst has rated the stock with a hold rating and nine have issued a buy rating on the company. The average 1 year price target among brokers that have covered the stock in the last year is $206.78.

Several analysts have recently weighed in on CHRD shares. Citigroup decreased their price objective on Chord Energy from $195.00 to $180.00 and set a “buy” rating on the stock in a report on Monday, August 12th. Piper Sandler lowered their price target on shares of Chord Energy from $234.00 to $206.00 and set an “overweight” rating on the stock in a report on Thursday, August 15th. BMO Capital Markets assumed coverage on shares of Chord Energy in a research note on Monday, June 3rd. They issued an “outperform” rating and a $230.00 price objective for the company. Bank of America upped their target price on shares of Chord Energy from $201.00 to $208.00 and gave the company a “buy” rating in a research note on Wednesday, August 21st. Finally, Mizuho increased their price target on shares of Chord Energy from $195.00 to $214.00 and gave the stock a “buy” rating in a research report on Monday, May 13th.

Insiders Place Their Bets

In other news, Director Samantha Holroyd bought 500 shares of the business’s stock in a transaction dated Friday, August 23rd. The stock was bought at an average price of $149.51 per share, for a total transaction of $74,755.00. Following the completion of the purchase, the director now owns 14,417 shares of the company’s stock, valued at approximately $2,155,485.67. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.70% of the company’s stock.

Institutional Investors Weigh In On Chord Energy

Hedge funds and other institutional investors have recently bought and sold shares of the business. Rise Advisors LLC acquired a new position in Chord Energy in the first quarter worth $31,000. Ashton Thomas Private Wealth LLC bought a new position in shares of Chord Energy in the second quarter valued at about $40,000. Benjamin F. Edwards & Company Inc. lifted its position in Chord Energy by 125.9% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 244 shares of the company’s stock worth $41,000 after buying an additional 136 shares in the last quarter. SRS Capital Advisors Inc. grew its holdings in Chord Energy by 306.9% during the 4th quarter. SRS Capital Advisors Inc. now owns 293 shares of the company’s stock worth $49,000 after acquiring an additional 221 shares during the last quarter. Finally, GAMMA Investing LLC increased its position in Chord Energy by 151.6% in the 2nd quarter. GAMMA Investing LLC now owns 317 shares of the company’s stock valued at $53,000 after acquiring an additional 191 shares in the last quarter. 97.76% of the stock is owned by institutional investors and hedge funds.

Chord Energy Price Performance

Shares of Chord Energy stock opened at $138.72 on Friday. The firm has a fifty day moving average price of $161.30 and a two-hundred day moving average price of $169.52. Chord Energy has a fifty-two week low of $138.00 and a fifty-two week high of $190.23. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.96 and a quick ratio of 0.91. The company has a market cap of $5.78 billion, a PE ratio of 6.51, a price-to-earnings-growth ratio of 0.88 and a beta of 1.01.

Chord Energy (NASDAQ:CHRD) last released its earnings results on Wednesday, August 7th. The company reported $4.69 earnings per share for the quarter, missing analysts’ consensus estimates of $5.00 by ($0.31). Chord Energy had a return on equity of 15.06% and a net margin of 20.83%. The firm had revenue of $902.70 million for the quarter, compared to analyst estimates of $982.43 million. During the same period last year, the business earned $3.65 earnings per share. The firm’s quarterly revenue was up 29.8% compared to the same quarter last year. Analysts expect that Chord Energy will post 19.61 EPS for the current year.

Chord Energy Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 5th. Shareholders of record on Wednesday, August 21st will be given a $1.25 dividend. The ex-dividend date of this dividend is Wednesday, August 21st. This represents a $5.00 dividend on an annualized basis and a yield of 3.60%. Chord Energy’s dividend payout ratio (DPR) is presently 23.46%.

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.