Chord Energy (NASDAQ:CHRD) Research Coverage Started at Stifel Nicolaus

Stifel Nicolaus started coverage on shares of Chord Energy (NASDAQ:CHRD) in a report issued on Thursday, Marketbeat Ratings reports. The firm issued a buy rating and a $182.00 price target on the stock.

CHRD has been the subject of several other reports. Truist Financial lowered their price target on shares of Chord Energy from $170.00 to $166.00 and set a “buy” rating for the company in a report on Monday, August 10th. Wall Street Zen lowered Chord Energy from a “strong-buy” rating to a “buy” rating in a research report on Saturday, June 27th. Citigroup lowered their target price on Chord Energy from $155.00 to $130.00 and set a “neutral” rating for the company in a report on Friday, July 10th. Roth Capital reiterated a “buy” rating and issued a $145.00 target price on shares of Chord Energy in a research report on Wednesday, July 15th. Finally, BMO Capital Markets reissued an “outperform” rating on shares of Chord Energy in a research note on Monday, June 29th. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $155.50.

Chord Energy Trading Up 0.1%

Shares of Chord Energy stock opened at $152.01 on Thursday. The firm’s 50 day moving average is $137.09 and its 200 day moving average is $133.33. The firm has a market capitalization of $8.31 billion, a PE ratio of 10.19 and a beta of 0.50. Chord Energy has a 1 year low of $84.25 and a 1 year high of $154.00. The company has a current ratio of 1.22, a quick ratio of 1.15 and a debt-to-equity ratio of 0.18.

Chord Energy (NASDAQ:CHRD) last issued its quarterly earnings data on Wednesday, August 5th. The company reported $6.44 EPS for the quarter, missing the consensus estimate of $6.55 by ($0.11). Chord Energy had a net margin of 13.42% and a return on equity of 10.18%. The company had revenue of $2.17 billion during the quarter, compared to the consensus estimate of $1.62 billion. During the same period in the previous year, the company earned $1.79 EPS. Chord Energy’s revenue for the quarter was up 128.6% on a year-over-year basis. Equities research analysts forecast that Chord Energy will post 19.33 earnings per share for the current fiscal year.

Chord Energy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, September 4th. Investors of record on Thursday, August 20th were given a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a yield of 3.4%. The ex-dividend date of this dividend was Thursday, August 20th. Chord Energy’s dividend payout ratio (DPR) is currently 34.85%.

Insiders Place Their Bets

In other Chord Energy news, Director Samantha Mckinney sold 9,750 shares of the company’s stock in a transaction dated Tuesday, September 1st. The stock was sold at an average price of $149.94, for a total value of $1,461,915.00. Following the sale, the director owned 7,280 shares in the company, valued at approximately $1,091,563.20. The trade was a 57.25% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Shannon Kinney sold 4,019 shares of the stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $140.00, for a total value of $562,660.00. Following the completion of the sale, the executive vice president directly owned 13,560 shares of the company’s stock, valued at approximately $1,898,400. The trade was a 22.86% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 23,969 shares of company stock valued at $3,389,599. 0.79% of the stock is currently owned by company insiders.

Institutional Trading of Chord Energy

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Bessemer Group Inc. boosted its stake in shares of Chord Energy by 63.8% in the 1st quarter. Bessemer Group Inc. now owns 190 shares of the company’s stock valued at $27,000 after purchasing an additional 74 shares during the last quarter. Versant Capital Management Inc raised its stake in Chord Energy by 330.9% during the second quarter. Versant Capital Management Inc now owns 237 shares of the company’s stock worth $27,000 after buying an additional 182 shares during the last quarter. V Square Quantitative Management LLC bought a new position in Chord Energy during the first quarter worth $29,000. WealthCollab LLC boosted its position in Chord Energy by 90.6% during the second quarter. WealthCollab LLC now owns 305 shares of the company’s stock valued at $30,000 after acquiring an additional 145 shares during the last quarter. Finally, Root Financial Partners LLC grew its holdings in Chord Energy by 178.6% during the 1st quarter. Root Financial Partners LLC now owns 234 shares of the company’s stock worth $33,000 after acquiring an additional 150 shares during the period. Institutional investors and hedge funds own 97.76% of the company’s stock.

About Chord Energy

Chord Energy Corporation (NASDAQ: CHRD) is an independent exploration and production company focused on developing and producing oil, natural gas and natural gas liquids. Its operations are concentrated in the Williston Basin, primarily across the Bakken and Three Forks formations in North Dakota and Montana.

The company’s activities include acquiring acreage, drilling and completing wells, and managing the production and sale of hydrocarbons. Chord’s portfolio is weighted toward crude oil, with associated natural gas and natural gas liquids contributing to its production mix.

Chord Energy was formed through the 2022 combination of Oasis Petroleum and Whiting Petroleum, two companies with established operations in the Williston Basin.