Chord Energy (NASDAQ:CHRD) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Chord Energy (NASDAQ:CHRD) from a sell rating to a hold rating in a report published on Saturday.

Other equities research analysts also recently issued research reports about the stock. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $130.00 target price on shares of Chord Energy in a research note on Monday, October 6th. Citigroup upped their target price on shares of Chord Energy from $120.00 to $125.00 and gave the company a “buy” rating in a research note on Wednesday, July 9th. Scotiabank assumed coverage on shares of Chord Energy in a research note on Friday, September 19th. They issued a “sector perform” rating and a $120.00 target price for the company. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Chord Energy in a research note on Wednesday, October 8th. Finally, Mizuho lowered their target price on shares of Chord Energy from $152.00 to $142.00 and set an “outperform” rating for the company in a research note on Monday, September 15th. Ten investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, Chord Energy has an average rating of “Moderate Buy” and a consensus target price of $138.38.

Chord Energy Trading Down 0.0%

CHRD opened at $89.70 on Friday. Chord Energy has a fifty-two week low of $79.83 and a fifty-two week high of $136.38. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.97 and a quick ratio of 0.90. The company has a market cap of $5.14 billion, a price-to-earnings ratio of 22.82 and a beta of 0.94. The firm has a 50 day simple moving average of $101.59 and a 200 day simple moving average of $99.44.

Chord Energy (NASDAQ:CHRD) last issued its earnings results on Wednesday, August 6th. The company reported $1.79 EPS for the quarter, missing the consensus estimate of $1.88 by ($0.09). Chord Energy had a net margin of 5.02% and a return on equity of 9.02%. The firm had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $984.07 million. During the same period in the previous year, the company posted $4.69 EPS. The firm’s revenue for the quarter was up 5.3% on a year-over-year basis. On average, sell-side analysts anticipate that Chord Energy will post 15.59 earnings per share for the current year.

Chord Energy Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 8th. Shareholders of record on Thursday, August 21st were paid a $1.30 dividend. The ex-dividend date was Thursday, August 21st. This represents a $5.20 dividend on an annualized basis and a yield of 5.8%. Chord Energy’s dividend payout ratio (DPR) is currently 132.32%.

Insider Buying and Selling

In other Chord Energy news, EVP Shannon Browning Kinney sold 3,019 shares of the stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $105.43, for a total value of $318,293.17. Following the completion of the sale, the executive vice president owned 14,650 shares in the company, valued at $1,544,549.50. This trade represents a 17.09% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.70% of the stock is currently owned by corporate insiders.

Institutional Trading of Chord Energy

A number of large investors have recently added to or reduced their stakes in the company. Geode Capital Management LLC lifted its stake in Chord Energy by 1.0% in the second quarter. Geode Capital Management LLC now owns 1,890,420 shares of the company’s stock valued at $183,112,000 after acquiring an additional 19,227 shares during the last quarter. American Century Companies Inc. lifted its stake in Chord Energy by 15.5% in the second quarter. American Century Companies Inc. now owns 1,337,079 shares of the company’s stock valued at $129,496,000 after acquiring an additional 179,209 shares during the last quarter. Sourcerock Group LLC lifted its stake in Chord Energy by 2.1% in the second quarter. Sourcerock Group LLC now owns 1,031,973 shares of the company’s stock valued at $99,947,000 after acquiring an additional 20,916 shares during the last quarter. Adage Capital Partners GP L.L.C. lifted its stake in shares of Chord Energy by 22.2% during the 2nd quarter. Adage Capital Partners GP L.L.C. now owns 990,381 shares of the company’s stock worth $95,918,000 after buying an additional 180,000 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its stake in shares of Chord Energy by 4.1% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 824,760 shares of the company’s stock worth $83,169,000 after buying an additional 32,802 shares during the last quarter. Institutional investors and hedge funds own 97.76% of the company’s stock.

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.