Jefferies Financial Group Begins Coverage on Chord Energy (NASDAQ:CHRD)

Jefferies Financial Group began coverage on shares of Chord Energy (NASDAQ:CHRD) in a research report released on Thursday, Marketbeat reports. The brokerage issued a hold rating and a $160.00 price target on the stock.

Other analysts also recently issued reports about the company. Royal Bank of Canada reiterated an outperform rating and set a $200.00 target price on shares of Chord Energy in a research note on Thursday. Piper Sandler reduced their price objective on Chord Energy from $234.00 to $206.00 and set an overweight rating for the company in a report on Thursday, August 15th. Wolfe Research assumed coverage on shares of Chord Energy in a report on Thursday, July 18th. They set a peer perform rating on the stock. Citigroup decreased their price objective on shares of Chord Energy from $195.00 to $180.00 and set a buy rating for the company in a report on Monday, August 12th. Finally, Bank of America raised their price target on Chord Energy from $201.00 to $208.00 and gave the stock a buy rating in a research note on Wednesday, August 21st. Two research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of Moderate Buy and a consensus target price of $202.10.

Chord Energy Trading Down 2.2 %

NASDAQ CHRD opened at $134.37 on Thursday. Chord Energy has a 12 month low of $133.96 and a 12 month high of $190.23. The company has a current ratio of 0.96, a quick ratio of 0.91 and a debt-to-equity ratio of 0.11. The stock’s fifty day moving average price is $160.03 and its 200-day moving average price is $169.13. The stock has a market cap of $5.60 billion, a P/E ratio of 6.31, a P/E/G ratio of 0.88 and a beta of 0.99.

Chord Energy (NASDAQ:CHRD) last announced its quarterly earnings data on Wednesday, August 7th. The company reported $4.69 EPS for the quarter, missing the consensus estimate of $5.00 by ($0.31). The firm had revenue of $902.70 million for the quarter, compared to analysts’ expectations of $982.43 million. Chord Energy had a net margin of 20.83% and a return on equity of 15.06%. The business’s revenue for the quarter was up 29.8% compared to the same quarter last year. During the same period last year, the company posted $3.65 earnings per share. As a group, equities analysts forecast that Chord Energy will post 19.61 EPS for the current fiscal year.

Chord Energy Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 5th. Stockholders of record on Wednesday, August 21st were given a $1.25 dividend. The ex-dividend date was Wednesday, August 21st. This represents a $5.00 dividend on an annualized basis and a dividend yield of 3.72%. Chord Energy’s dividend payout ratio (DPR) is presently 23.46%.

Insider Activity

In related news, Director Samantha Holroyd acquired 500 shares of Chord Energy stock in a transaction dated Friday, August 23rd. The shares were acquired at an average cost of $149.51 per share, for a total transaction of $74,755.00. Following the completion of the purchase, the director now owns 14,417 shares in the company, valued at $2,155,485.67. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.70% of the company’s stock.

Institutional Trading of Chord Energy

Several hedge funds have recently made changes to their positions in the company. Rise Advisors LLC purchased a new position in Chord Energy during the 1st quarter valued at about $31,000. Ashton Thomas Private Wealth LLC purchased a new position in shares of Chord Energy during the 2nd quarter valued at approximately $40,000. Benjamin F. Edwards & Company Inc. raised its stake in Chord Energy by 125.9% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 244 shares of the company’s stock valued at $41,000 after buying an additional 136 shares in the last quarter. GAMMA Investing LLC grew its position in shares of Chord Energy by 151.6% during the 2nd quarter. GAMMA Investing LLC now owns 317 shares of the company’s stock valued at $53,000 after buying an additional 191 shares during the last quarter. Finally, Atlas Capital Advisors LLC bought a new stake in Chord Energy in the second quarter valued at $60,000. Institutional investors and hedge funds own 97.76% of the company’s stock.

Chord Energy Company Profile

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.