Chord Energy Corporation (NASDAQ:CHRD) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Chord Energy Corporation (NASDAQ:CHRD) has earned an average rating of “Moderate Buy” from the fifteen analysts that are presently covering the company, Marketbeat reports. Four investment analysts have rated the stock with a hold recommendation, ten have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price objective among brokers that have covered the stock in the last year is $156.6923.

Several research analysts have issued reports on the company. Truist Financial dropped their target price on Chord Energy from $187.00 to $185.00 and set a “buy” rating for the company in a research report on Friday, May 8th. Williams Trading set a $189.00 target price on Chord Energy in a research report on Monday, April 20th. Wells Fargo & Company boosted their target price on Chord Energy from $136.00 to $175.00 and gave the company an “overweight” rating in a research report on Wednesday, April 8th. Wall Street Zen upgraded Chord Energy from a “hold” rating to a “buy” rating in a research report on Saturday, May 9th. Finally, Weiss Ratings upgraded Chord Energy from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Tuesday, March 17th.

Chord Energy Stock Performance

Shares of NASDAQ CHRD opened at $143.98 on Monday. The business’s 50 day moving average is $137.69 and its two-hundred day moving average is $111.44. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.02 and a quick ratio of 0.96. Chord Energy has a 1-year low of $84.25 and a 1-year high of $151.95. The stock has a market capitalization of $8.11 billion, a P/E ratio of -127.42 and a beta of 0.52.

Chord Energy (NASDAQ:CHRD) last announced its earnings results on Tuesday, May 5th. The company reported $4.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.51 by $1.05. Chord Energy had a positive return on equity of 7.06% and a negative net margin of 1.25%.The business had revenue of $1.67 billion during the quarter, compared to analyst estimates of $1.21 billion. During the same quarter in the previous year, the business earned $4.04 earnings per share. The company’s revenue for the quarter was up 37.1% compared to the same quarter last year. As a group, research analysts expect that Chord Energy will post 20.53 EPS for the current year.

Chord Energy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 5th. Investors of record on Wednesday, May 20th will be issued a $1.30 dividend. The ex-dividend date is Wednesday, May 20th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 3.6%. Chord Energy’s payout ratio is presently -460.18%.

Insider Transactions at Chord Energy

In related news, CAO Lara J. Kroll sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 3rd. The stock was sold at an average price of $113.66, for a total value of $568,300.00. Following the completion of the sale, the chief accounting officer owned 8,921 shares in the company, valued at approximately $1,013,960.86. The trade was a 35.92% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Douglas E. Brooks sold 1,500 shares of the business’s stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $138.57, for a total value of $207,855.00. Following the completion of the sale, the director owned 18,705 shares of the company’s stock, valued at $2,591,951.85. The trade was a 7.42% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 33,203 shares of company stock valued at $4,197,995 in the last ninety days. Corporate insiders own 0.79% of the company’s stock.

Institutional Trading of Chord Energy

A number of large investors have recently modified their holdings of the company. Bank of America Corp DE boosted its holdings in shares of Chord Energy by 8.4% in the first quarter. Bank of America Corp DE now owns 238,068 shares of the company’s stock valued at $33,849,000 after purchasing an additional 18,399 shares during the period. California State Teachers Retirement System boosted its holdings in shares of Chord Energy by 22.9% in the first quarter. California State Teachers Retirement System now owns 66,864 shares of the company’s stock valued at $9,507,000 after purchasing an additional 12,442 shares during the period. Royal Bank of Canada lifted its holdings in Chord Energy by 119.3% during the first quarter. Royal Bank of Canada now owns 36,579 shares of the company’s stock worth $5,202,000 after buying an additional 19,896 shares during the period. Quantinno Capital Management LP lifted its holdings in Chord Energy by 68.7% during the first quarter. Quantinno Capital Management LP now owns 31,889 shares of the company’s stock worth $4,534,000 after buying an additional 12,983 shares during the period. Finally, SummitTX Capital L.P. purchased a new stake in Chord Energy during the first quarter worth $1,059,000. Hedge funds and other institutional investors own 97.76% of the company’s stock.

Chord Energy Company Profile

Chord Energy Corporation (NASDAQ: CHRD), formerly known as Oasis Petroleum Inc, is an independent exploration and production company focused on the acquisition, development and production of crude oil, natural gas and natural gas liquids. Headquartered in Houston, Texas, Chord Energy emerged from financial restructuring in early 2021 and rebranded in October 2022 to reflect its renewed strategic vision.

The company’s core operations are concentrated in two prolific U.S. resource plays: the Williston Basin across North Dakota and Montana, and the Delaware Basin spanning parts of West Texas and southeastern New Mexico.