Brokerages Set Chord Energy Co. (NASDAQ:CHRD) PT at $190.18

Shares of Chord Energy Co. (NASDAQ:CHRD) have earned a consensus rating of “Moderate Buy” from the thirteen analysts that are presently covering the company, MarketBeat.com reports. Two analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating on the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $190.18.

Several equities research analysts recently issued reports on the stock. Bank of America increased their target price on shares of Chord Energy from $201.00 to $208.00 and gave the stock a “buy” rating in a report on Wednesday, August 21st. BMO Capital Markets reduced their target price on shares of Chord Energy from $205.00 to $175.00 and set an “outperform” rating for the company in a report on Friday, October 4th. Jefferies Financial Group assumed coverage on shares of Chord Energy in a report on Thursday, September 5th. They issued a “hold” rating and a $160.00 target price for the company. Citigroup reduced their target price on shares of Chord Energy from $195.00 to $180.00 and set a “buy” rating for the company in a report on Monday, August 12th. Finally, Wells Fargo & Company reduced their target price on shares of Chord Energy from $185.00 to $180.00 and set an “overweight” rating for the company in a report on Wednesday, October 16th.

Insider Activity

In other news, Director Samantha Holroyd bought 500 shares of the stock in a transaction dated Friday, August 23rd. The stock was purchased at an average cost of $149.51 per share, for a total transaction of $74,755.00. Following the transaction, the director now owns 14,417 shares of the company’s stock, valued at $2,155,485.67. The trade was a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.70% of the company’s stock.

Institutional Trading of Chord Energy

Institutional investors have recently bought and sold shares of the stock. Kraematon Investment Advisors Inc. bought a new stake in Chord Energy in the second quarter worth $4,426,000. Sei Investments Co. lifted its position in Chord Energy by 24.0% in the first quarter. Sei Investments Co. now owns 144,166 shares of the company’s stock worth $25,696,000 after buying an additional 27,903 shares during the last quarter. Bank of Montreal Can lifted its position in Chord Energy by 956.5% in the second quarter. Bank of Montreal Can now owns 58,359 shares of the company’s stock worth $9,873,000 after buying an additional 52,835 shares during the last quarter. Quantbot Technologies LP bought a new stake in Chord Energy in the first quarter worth $884,000. Finally, BOKF NA lifted its position in Chord Energy by 1,678.3% in the first quarter. BOKF NA now owns 15,471 shares of the company’s stock worth $2,751,000 after buying an additional 14,601 shares during the last quarter. 97.76% of the stock is currently owned by institutional investors.

Chord Energy Price Performance

Shares of NASDAQ:CHRD opened at $127.67 on Friday. The firm’s 50 day moving average price is $137.09 and its 200-day moving average price is $160.62. Chord Energy has a twelve month low of $126.38 and a twelve month high of $190.23. The company has a quick ratio of 0.91, a current ratio of 0.96 and a debt-to-equity ratio of 0.11. The stock has a market capitalization of $7.90 billion, a PE ratio of 6.20, a price-to-earnings-growth ratio of 5.04 and a beta of 0.97.

Chord Energy (NASDAQ:CHRD) last issued its quarterly earnings data on Wednesday, August 7th. The company reported $4.69 earnings per share for the quarter, missing the consensus estimate of $5.00 by ($0.31). The business had revenue of $902.70 million during the quarter, compared to the consensus estimate 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 for the quarter was up 29.8% on a year-over-year basis. During the same quarter last year, the company earned $3.65 EPS. Equities research analysts expect that Chord Energy will post 17.07 EPS for the current year.

Chord Energy Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 5th. Stockholders of record on Wednesday, August 21st were given a dividend of $1.25 per share. The ex-dividend date of this dividend was Wednesday, August 21st. This represents a $5.00 dividend on an annualized basis and a dividend yield of 3.92%. Chord Energy’s dividend payout ratio is currently 24.27%.

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.