Analysts Set Chord Energy Co. (NASDAQ:CHRD) Target Price at $204.00

Chord Energy Co. (NASDAQ:CHRD) has been given an average rating of “Moderate Buy” by the nine ratings firms that are currently covering the firm, Marketbeat reports. One investment analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $204.00.

A number of research analysts have weighed in on CHRD shares. Bank of America restated a “buy” rating and issued a $201.00 price target on shares of Chord Energy in a research note on Friday, June 14th. Royal Bank of Canada raised their price target on Chord Energy from $180.00 to $200.00 and gave the company an “outperform” rating in a research note on Monday, April 29th. Mizuho raised their price target on Chord Energy from $195.00 to $214.00 and gave the company a “buy” rating in a research note on Monday, May 13th. BMO Capital Markets started coverage on Chord Energy in a research note on Monday, June 3rd. They issued an “outperform” rating and a $230.00 price target for the company. Finally, Truist Financial decreased their price target on Chord Energy from $228.00 to $226.00 and set a “buy” rating for the company in a research note on Monday, June 3rd.

Chord Energy Stock Up 2.5 %

NASDAQ:CHRD opened at $166.75 on Monday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.07 and a current ratio of 1.14. The company has a market cap of $6.95 billion, a PE ratio of 7.82, a PEG ratio of 0.79 and a beta of 1.05. Chord Energy has a 52-week low of $145.06 and a 52-week high of $190.23. The stock has a 50-day simple moving average of $177.92 and a 200 day simple moving average of $168.54.

Chord Energy (NASDAQ:CHRD) last posted its quarterly earnings data on Tuesday, May 7th. The company reported $5.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.75 by $0.35. The business had revenue of $1.09 billion during the quarter, compared to the consensus estimate of $771.87 million. Chord Energy had a return on equity of 16.57% and a net margin of 22.67%. Chord Energy’s quarterly revenue was up 24.8% on a year-over-year basis. During the same period last year, the company earned $4.50 earnings per share. On average, sell-side analysts expect that Chord Energy will post 22.39 EPS for the current fiscal year.

Chord Energy Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 5th. Stockholders of record on Wednesday, May 22nd were given a $2.94 dividend. The ex-dividend date of this dividend was Tuesday, May 21st. This represents a $11.76 dividend on an annualized basis and a dividend yield of 7.05%. Chord Energy’s payout ratio is 23.46%.

Institutional Trading of Chord Energy

Hedge funds have recently made changes to their positions in the business. Vest Financial LLC lifted its position in shares of Chord Energy by 36.0% in the fourth quarter. Vest Financial LLC now owns 79,293 shares of the company’s stock valued at $13,181,000 after buying an additional 20,995 shares during the last quarter. Federated Hermes Inc. lifted its position in shares of Chord Energy by 35.4% in the fourth quarter. Federated Hermes Inc. now owns 38,517 shares of the company’s stock valued at $6,403,000 after buying an additional 10,075 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in Chord Energy by 12.3% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 491,737 shares of the company’s stock worth $81,742,000 after purchasing an additional 53,992 shares during the last quarter. Capital Fund Management S.A. lifted its holdings in Chord Energy by 252.9% during the 4th quarter. Capital Fund Management S.A. now owns 43,934 shares of the company’s stock worth $7,303,000 after purchasing an additional 31,484 shares during the last quarter. Finally, LSV Asset Management acquired a new stake in Chord Energy during the 4th quarter worth approximately $16,549,000. 97.76% of the stock is owned by institutional investors and hedge funds.

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.