Chord Energy Co. (NASDAQ:CHRD) Given Average Rating of “Moderate Buy” by Brokerages

Chord Energy Co. (NASDAQ:CHRD) has earned an average rating of “Moderate Buy” from the thirteen brokerages that are covering the firm, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $187.82.

CHRD has been the topic of a number of recent analyst reports. Siebert Williams Shank upgraded shares of Chord Energy to a “strong-buy” rating in a research note on Tuesday, October 15th. UBS Group reduced their price target on Chord Energy from $168.00 to $161.00 and set a “buy” rating for the company in a report on Monday, December 9th. Bank of America upped their price objective on Chord Energy from $201.00 to $208.00 and gave the stock a “buy” rating in a report on Wednesday, August 21st. Piper Sandler increased their price objective on Chord Energy from $211.00 to $212.00 and gave the stock an “overweight” rating in a research report on Monday, November 18th. Finally, Jefferies Financial Group began coverage on shares of Chord Energy in a research report on Thursday, September 5th. They set a “hold” rating and a $160.00 target price on the stock.

Chord Energy Stock Down 0.5 %

CHRD opened at $119.28 on Monday. The business has a 50 day moving average price of $127.88 and a two-hundred day moving average price of $146.97. Chord Energy has a 52 week low of $115.96 and a 52 week high of $190.23. The company has a market cap of $7.29 billion, a PE ratio of 6.14, a P/E/G ratio of 4.79 and a beta of 0.96. The company has a quick ratio of 0.89, a current ratio of 0.93 and a debt-to-equity ratio of 0.10.

Chord Energy (NASDAQ:CHRD) last issued its quarterly earnings results on Wednesday, November 6th. The company reported $3.40 earnings per share for the quarter, missing the consensus estimate of $3.63 by ($0.23). The company had revenue of $1.12 billion for the quarter, compared to analyst estimates of $1.26 billion. Chord Energy had a return on equity of 12.88% and a net margin of 19.74%. Chord Energy’s revenue for the quarter was up 33.4% compared to the same quarter last year. During the same period in the prior year, the business earned $5.04 earnings per share. As a group, research analysts anticipate that Chord Energy will post 16.5 EPS for the current year.

Chord Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Wednesday, November 27th were given a $1.25 dividend. The ex-dividend date was Wednesday, November 27th. This represents a $5.00 annualized dividend and a dividend yield of 4.19%. Chord Energy’s dividend payout ratio is presently 25.75%.

Insider Buying and Selling

In related news, CAO Shannon Browning Kinney sold 1,000 shares of the business’s stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $121.27, for a total value of $121,270.00. Following the completion of the transaction, the chief accounting officer now owns 20,488 shares of the company’s stock, valued at approximately $2,484,579.76. The trade was a 4.65 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.70% of the company’s stock.

Institutional Investors Weigh In On Chord Energy

A number of hedge funds and other institutional investors have recently modified their holdings of CHRD. FMR LLC lifted its stake in shares of Chord Energy by 2.2% during the third quarter. FMR LLC now owns 3,420,012 shares of the company’s stock valued at $445,388,000 after buying an additional 74,165 shares during the period. State Street Corp grew its stake in Chord Energy by 0.9% in the 3rd quarter. State Street Corp now owns 2,485,777 shares of the company’s stock worth $323,723,000 after acquiring an additional 22,753 shares during the period. Victory Capital Management Inc. lifted its stake in shares of Chord Energy by 41.3% during the 3rd quarter. Victory Capital Management Inc. now owns 2,245,435 shares of the company’s stock worth $292,423,000 after purchasing an additional 656,374 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of Chord Energy by 72.0% during the second quarter. Dimensional Fund Advisors LP now owns 1,771,780 shares of the company’s stock worth $297,090,000 after purchasing an additional 741,705 shares during the last quarter. Finally, Pacer Advisors Inc. boosted its holdings in shares of Chord Energy by 8,762.1% during the third quarter. Pacer Advisors Inc. now owns 1,245,034 shares of the company’s stock worth $162,141,000 after purchasing an additional 1,230,985 shares during the last quarter. 97.76% of the stock is currently owned by hedge funds and other institutional investors.

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.