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

Shares of Chord Energy Co. (NASDAQ:CHRD) have been assigned an average recommendation of “Buy” from the thirteen ratings firms that are presently covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a hold recommendation, eleven have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $180.25.

Several research firms have recently commented on CHRD. Mizuho decreased their price objective on Chord Energy from $192.00 to $178.00 and set an “outperform” rating on the stock in a report on Monday, December 16th. Truist Financial decreased their price target on Chord Energy from $223.00 to $185.00 and set a “buy” rating on the stock in a research note on Monday, September 30th. Royal Bank of Canada dropped their price objective on Chord Energy from $185.00 to $180.00 and set an “outperform” rating for the company in a research note on Wednesday, November 20th. Siebert Williams Shank raised shares of Chord Energy to a “strong-buy” rating in a research note on Tuesday, October 15th. Finally, Wells Fargo & Company increased their price target on shares of Chord Energy from $175.00 to $176.00 and gave the company an “overweight” rating in a research report on Tuesday, December 17th.

Insider Activity

In related news, CAO Shannon Browning Kinney sold 1,000 shares of Chord Energy stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $121.27, for a total transaction of $121,270.00. Following the completion of the transaction, the chief accounting officer now directly owns 20,488 shares of the company’s stock, valued at $2,484,579.76. This trade represents a 4.65 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.70% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Chord Energy

A number of institutional investors and hedge funds have recently made changes to their positions in CHRD. GAMMA Investing LLC grew its stake in shares of Chord Energy by 30.6% in the 3rd quarter. GAMMA Investing LLC now owns 414 shares of the company’s stock worth $54,000 after buying an additional 97 shares during the last quarter. Commerce Bank grew its stake in shares of Chord Energy by 4.3% in the third quarter. Commerce Bank now owns 2,361 shares of the company’s stock worth $307,000 after acquiring an additional 98 shares during the last quarter. New York State Teachers Retirement System increased its holdings in shares of Chord Energy by 0.4% during the third quarter. New York State Teachers Retirement System now owns 27,274 shares of the company’s stock valued at $3,552,000 after acquiring an additional 100 shares in the last quarter. UMB Bank n.a. raised its position in shares of Chord Energy by 77.7% in the 3rd quarter. UMB Bank n.a. now owns 231 shares of the company’s stock worth $30,000 after purchasing an additional 101 shares during the last quarter. Finally, Lindenwold Advisors INC boosted its stake in Chord Energy by 5.0% in the 3rd quarter. Lindenwold Advisors INC now owns 2,523 shares of the company’s stock worth $329,000 after purchasing an additional 119 shares in the last quarter. Institutional investors own 97.76% of the company’s stock.

Chord Energy Stock Performance

NASDAQ:CHRD opened at $122.60 on Friday. The company has a market capitalization of $7.49 billion, a price-to-earnings ratio of 6.31, a PEG ratio of 4.79 and a beta of 0.99. The business has a 50 day moving average of $122.64 and a 200 day moving average of $139.77. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.93 and a quick ratio of 0.89. Chord Energy has a 1-year low of $109.59 and a 1-year high of $190.23.

Chord Energy (NASDAQ:CHRD) last announced its quarterly earnings data on Wednesday, November 6th. The company reported $3.40 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.63 by ($0.23). The business had revenue of $1.12 billion during the quarter, compared to analysts’ expectations of $1.26 billion. Chord Energy had a net margin of 19.74% and a return on equity of 12.88%. Chord Energy’s revenue for the quarter was up 33.4% on a year-over-year basis. During the same period last year, the company posted $5.04 EPS. On average, sell-side analysts predict that Chord Energy will post 16.5 earnings per share for the current fiscal year.

Chord Energy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Wednesday, November 27th were given a $1.25 dividend. This represents a $5.00 annualized dividend and a dividend yield of 4.08%. The ex-dividend date was Wednesday, November 27th. Chord Energy’s dividend payout ratio is currently 25.75%.

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.