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

Shares of Chord Energy Co. (NASDAQ:CHRD) have received an average rating of “Moderate Buy” from the eleven ratings firms that are currently covering the firm, Marketbeat reports. Two analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $202.10.

A number of equities research analysts have issued reports on the stock. Citigroup reduced their price objective on shares of Chord Energy from $195.00 to $180.00 and set a “buy” rating on the stock in a research note on Monday, August 12th. Bank of America increased their price objective on shares of Chord Energy from $201.00 to $208.00 and gave the stock a “buy” rating in a research note on Wednesday, August 21st. Royal Bank of Canada reiterated an “outperform” rating and set a $200.00 price objective on shares of Chord Energy in a research note on Friday, September 20th. Wolfe Research assumed coverage on shares of Chord Energy in a research note on Thursday, July 18th. They set a “peer perform” rating on the stock. Finally, Jefferies Financial Group initiated coverage on shares of Chord Energy in a research note on Thursday, September 5th. They set a “hold” rating and a $160.00 price objective on the stock.

Chord Energy Trading Down 1.8 %

CHRD stock opened at $134.80 on Wednesday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.91 and a current ratio of 0.96. The company’s 50-day simple moving average is $151.18 and its 200 day simple moving average is $166.84. Chord Energy has a 52 week low of $129.75 and a 52 week high of $190.23. The company has a market capitalization of $5.62 billion, a PE ratio of 6.33, a price-to-earnings-growth ratio of 4.48 and a beta of 0.99.

Chord Energy (NASDAQ:CHRD) last released its quarterly earnings results on Wednesday, August 7th. The company reported $4.69 EPS for the quarter, missing the consensus estimate of $5.00 by ($0.31). Chord Energy had a net margin of 20.83% and a return on equity of 15.06%. The business had revenue of $902.70 million during the quarter, compared to analyst estimates of $982.43 million. During the same quarter last year, the company posted $3.65 earnings per share. The company’s revenue was up 29.8% on a year-over-year basis. As a group, sell-side analysts anticipate that Chord Energy will post 19.67 earnings per share for the current year.

Chord Energy Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 5th. Investors of record on Wednesday, August 21st were issued a $1.25 dividend. The ex-dividend date of this dividend was Wednesday, August 21st. This represents a $5.00 dividend on an annualized basis and a yield of 3.71%. Chord Energy’s dividend payout ratio (DPR) is presently 23.46%.

Insider Activity at Chord Energy

In other Chord Energy news, Director Samantha Holroyd acquired 500 shares of the company’s stock in a transaction that occurred on Friday, August 23rd. The stock was acquired at an average price of $149.51 per share, for a total transaction of $74,755.00. Following the acquisition, the director now directly owns 14,417 shares in the company, valued at $2,155,485.67. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.70% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in CHRD. Dimensional Fund Advisors LP increased its position in Chord Energy by 72.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,771,780 shares of the company’s stock valued at $297,090,000 after purchasing an additional 741,705 shares during the period. Victory Capital Management Inc. increased its position in Chord Energy by 397.5% during the 2nd quarter. Victory Capital Management Inc. now owns 1,589,061 shares of the company’s stock valued at $266,454,000 after purchasing an additional 1,269,658 shares during the period. First Trust Advisors LP increased its position in Chord Energy by 11.0% during the 4th quarter. First Trust Advisors LP now owns 1,402,359 shares of the company’s stock valued at $233,114,000 after purchasing an additional 138,957 shares during the period. Boston Partners increased its position in Chord Energy by 107.0% during the 1st quarter. Boston Partners now owns 1,305,942 shares of the company’s stock valued at $232,813,000 after purchasing an additional 674,965 shares during the period. Finally, American Century Companies Inc. increased its position in Chord Energy by 13.2% during the 2nd quarter. American Century Companies Inc. now owns 971,982 shares of the company’s stock valued at $162,982,000 after purchasing an additional 113,618 shares during the period. Institutional investors 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.