Chord Energy (NASDAQ:CHRD) Earns Buy Rating from Analysts at Citigroup

Citigroup began coverage on shares of Chord Energy (NASDAQ:CHRD) in a report published on Monday, Marketbeat reports. The brokerage issued a buy rating and a $195.00 price target on the stock.

A number of other equities research analysts have also recently commented on CHRD. BMO Capital Markets began coverage on Chord Energy in a research report on Monday, June 3rd. They set an outperform rating and a $230.00 target price on the stock. Piper Sandler raised their target price on Chord Energy from $231.00 to $233.00 and gave the company an overweight rating in a research report on Friday, May 24th. Bank of America restated a buy rating and set a $201.00 target price on shares of Chord Energy in a research report on Friday, June 14th. Truist Financial dropped their target price 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. Finally, Mizuho raised their price target on shares of Chord Energy from $195.00 to $214.00 and gave the company a buy rating in a research note on Monday, May 13th. One analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of Moderate Buy and a consensus price target of $205.00.

Chord Energy Price Performance

Shares of CHRD opened at $173.62 on Monday. The business’s 50-day moving average is $174.94 and its two-hundred day moving average is $169.19. The company has a market capitalization of $7.24 billion, a P/E ratio of 8.15, a P/E/G ratio of 0.87 and a beta of 1.01. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.07 and a current ratio of 1.14. Chord Energy has a fifty-two week low of $145.06 and a fifty-two week high of $190.23.

Chord Energy (NASDAQ:CHRD) last announced its quarterly earnings results on Tuesday, May 7th. The company reported $5.10 earnings per share for the quarter, topping the consensus estimate of $4.75 by $0.35. Chord Energy had a return on equity of 16.57% and a net margin of 22.67%. The company had revenue of $1.09 billion for the quarter, compared to the consensus estimate of $771.87 million. During the same period last year, the firm earned $4.50 EPS. The firm’s revenue for the quarter was up 24.8% compared to the same quarter last year. Research analysts predict that Chord Energy will post 22.27 earnings per share for the current year.

Chord Energy Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 5th. Shareholders of record on Wednesday, May 22nd were paid a $2.94 dividend. This represents a $11.76 dividend on an annualized basis and a yield of 6.77%. The ex-dividend date was Tuesday, May 21st. Chord Energy’s dividend payout ratio (DPR) is 23.46%.

Institutional Trading of Chord Energy

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Xponance Inc. increased its holdings in shares of Chord Energy by 1.3% during the 4th quarter. Xponance Inc. now owns 6,070 shares of the company’s stock worth $1,009,000 after buying an additional 77 shares during the last quarter. Contravisory Investment Management Inc. increased its holdings in shares of Chord Energy by 48.9% during the 4th quarter. Contravisory Investment Management Inc. now owns 259 shares of the company’s stock worth $43,000 after buying an additional 85 shares during the last quarter. Fortem Financial Group LLC increased its holdings in shares of Chord Energy by 1.6% during the 1st quarter. Fortem Financial Group LLC now owns 5,958 shares of the company’s stock worth $1,062,000 after buying an additional 91 shares during the last quarter. Viking Fund Management LLC increased its holdings in shares of Chord Energy by 40.0% during the 4th quarter. Viking Fund Management LLC now owns 350 shares of the company’s stock worth $58,000 after buying an additional 100 shares during the last quarter. Finally, New York State Teachers Retirement System increased its holdings in shares of Chord Energy by 0.6% during the 1st quarter. New York State Teachers Retirement System now owns 15,792 shares of the company’s stock worth $2,815,000 after buying an additional 100 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.