Chord Energy (NASDAQ:CHRD) Coverage Initiated by Analysts at Wolfe Research

Wolfe Research assumed coverage on shares of Chord Energy (NASDAQ:CHRD) in a report released on Thursday, MarketBeat reports. The brokerage issued a peer perform rating on the stock.

Several other research analysts have also recently weighed in on CHRD. Truist Financial lowered their price objective on Chord Energy from $228.00 to $226.00 and set a buy rating on the stock in a research report on Monday, June 3rd. BMO Capital Markets started coverage on Chord Energy in a research report on Monday, June 3rd. They set an outperform rating and a $230.00 price objective on the stock. Royal Bank of Canada increased their price objective on Chord Energy from $180.00 to $200.00 and gave the stock an outperform rating in a research report on Monday, April 29th. Bank of America reiterated a buy rating and set a $201.00 price objective on shares of Chord Energy in a research report on Friday, June 14th. Finally, Piper Sandler increased their price objective on Chord Energy from $233.00 to $234.00 and gave the stock an overweight rating in a research report on Thursday. Two research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, Chord Energy presently has a consensus rating of Moderate Buy and an average price target of $205.10.

Chord Energy Stock Down 0.7 %

CHRD opened at $175.34 on Thursday. Chord Energy has a 1-year low of $145.53 and a 1-year high of $190.23. The stock’s fifty day simple moving average is $173.38 and its 200 day simple moving average is $169.53. The company has a current ratio of 1.14, a quick ratio of 1.07 and a debt-to-equity ratio of 0.08. The stock has a market cap of $7.31 billion, a PE ratio of 8.23, a price-to-earnings-growth ratio of 0.92 and a beta of 1.01.

Chord Energy (NASDAQ:CHRD) last posted its quarterly earnings results on Tuesday, May 7th. The company reported $5.10 earnings per share for the quarter, beating analysts’ consensus estimates of $4.75 by $0.35. The business had revenue of $1.09 billion for the quarter, compared to analysts’ expectations of $771.87 million. Chord Energy had a return on equity of 16.57% and a net margin of 22.67%. The firm’s revenue for the quarter was up 24.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $4.50 EPS. As a group, research analysts expect that Chord Energy will post 22.27 earnings per share for the current year.

Chord Energy Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 5th. Investors of record on Wednesday, May 22nd were given a $2.94 dividend. This represents a $11.76 dividend on an annualized basis and a dividend yield of 6.71%. The ex-dividend date was Tuesday, May 21st. Chord Energy’s payout ratio is currently 23.46%.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. boosted its stake in Chord Energy by 0.5% in the third quarter. Vanguard Group Inc. now owns 4,351,393 shares of the company’s stock valued at $705,230,000 after buying an additional 21,034 shares in the last quarter. First Trust Advisors LP boosted its stake in Chord Energy by 11.0% in the fourth quarter. First Trust Advisors LP now owns 1,402,359 shares of the company’s stock valued at $233,114,000 after buying an additional 138,957 shares in the last quarter. Boston Partners boosted its stake in Chord Energy by 107.0% in the first quarter. Boston Partners now owns 1,305,942 shares of the company’s stock valued at $232,813,000 after buying an additional 674,965 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Chord Energy by 3.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 670,548 shares of the company’s stock valued at $111,468,000 after purchasing an additional 21,399 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its stake in shares of Chord Energy by 8.2% during the first quarter. Allspring Global Investments Holdings LLC now owns 532,144 shares of the company’s stock valued at $94,849,000 after purchasing an additional 40,407 shares in the last quarter. Institutional investors 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.