Chord Energy (NASDAQ:CHRD) Raised to “Strong-Buy” at Siebert Williams Shank

Siebert Williams Shank upgraded shares of Chord Energy (NASDAQ:CHRD) to a strong-buy rating in a report issued on Tuesday, Zacks.com reports.

A number of other equities research analysts have also recently issued reports on CHRD. Piper Sandler boosted their price objective on Chord Energy from $206.00 to $211.00 and gave the company an “overweight” rating in a research note on Tuesday. Royal Bank of Canada restated an “outperform” rating and issued a $200.00 price objective on shares of Chord Energy in a research note on Friday, September 20th. Citigroup decreased their price target on Chord Energy from $195.00 to $180.00 and set a “buy” rating on the stock in a research report on Monday, August 12th. Wells Fargo & Company decreased their price target on Chord Energy from $185.00 to $180.00 and set an “overweight” rating on the stock in a research report on Wednesday. Finally, Jefferies Financial Group started coverage on Chord Energy in a research report on Thursday, September 5th. They set a “hold” rating and a $160.00 price target on the stock. Two equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Chord Energy has a consensus rating of “Moderate Buy” and an average target price of $190.18.

Chord Energy Stock Performance

NASDAQ CHRD opened at $130.58 on Tuesday. 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 company has a market cap of $5.44 billion, a P/E ratio of 6.13, a PEG ratio of 4.92 and a beta of 0.97. The company has a fifty day simple moving average of $139.85 and a 200 day simple moving average of $162.65. Chord Energy has a 12-month low of $126.38 and a 12-month high of $190.23.

Chord Energy (NASDAQ:CHRD) last posted its quarterly earnings data on Wednesday, August 7th. The company reported $4.69 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 return on equity of 15.06% and a net margin of 20.83%. Chord Energy’s revenue was up 29.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.65 earnings per share. Sell-side analysts predict that Chord Energy will post 17.93 earnings per share for the current fiscal year.

Chord Energy Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 5th. Investors of record on Wednesday, August 21st were given a $1.25 dividend. This represents a $5.00 annualized dividend and a dividend yield of 3.83%. The ex-dividend date was Wednesday, August 21st. Chord Energy’s dividend payout ratio (DPR) is 23.46%.

Insider Buying and Selling

In related news, Director Samantha Holroyd acquired 500 shares of the firm’s stock in a transaction that occurred on Friday, August 23rd. The shares were bought at an average cost of $149.51 per share, for a total transaction of $74,755.00. Following the completion of the transaction, the director now owns 14,417 shares in the company, valued at approximately $2,155,485.67. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.70% of the stock is owned by company insiders.

Institutional Trading of Chord Energy

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Sumitomo Mitsui DS Asset Management Company Ltd boosted its stake in Chord Energy by 2.7% in the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 5,464 shares of the company’s stock worth $712,000 after buying an additional 145 shares in the last quarter. Redmont Wealth Advisors LLC purchased a new stake in Chord Energy in the third quarter worth approximately $467,000. Arkfeld Wealth Strategies L.L.C. purchased a new stake in Chord Energy in the third quarter worth approximately $12,152,000. UMB Bank n.a. boosted its stake in Chord Energy by 77.7% in the third quarter. UMB Bank n.a. now owns 231 shares of the company’s stock worth $30,000 after buying an additional 101 shares in the last quarter. Finally, Hexagon Capital Partners LLC boosted its stake in shares of Chord Energy by 462.9% during the third quarter. Hexagon Capital Partners LLC now owns 197 shares of the company’s stock valued at $26,000 after purchasing an additional 162 shares during the period. Hedge funds and other 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.