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

Chord Energy Co. (NASDAQ:CHRD) has been assigned a consensus recommendation of “Moderate Buy” from the thirteen ratings firms that are currently covering the company, Marketbeat reports. Two research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong 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 $182.55.

CHRD has been the subject of a number of research analyst reports. Piper Sandler lowered their price target on Chord Energy from $212.00 to $194.00 and set an “overweight” rating for the company in a report on Tuesday, December 17th. UBS Group dropped their target price on shares of Chord Energy from $168.00 to $161.00 and set a “buy” rating on the stock in a report on Monday, December 9th. Royal Bank of Canada decreased their price target on shares of Chord Energy from $185.00 to $180.00 and set an “outperform” rating for the company in a report on Wednesday, November 20th. Jefferies Financial Group began 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. Finally, BMO Capital Markets decreased their target price on Chord Energy from $205.00 to $175.00 and set an “outperform” rating for the company in a research note on Friday, October 4th.

Insider Transactions at Chord Energy

In other news, CAO Shannon Browning Kinney sold 1,000 shares of the company’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $116.35, for a total value of $116,350.00. Following the completion of the sale, the chief accounting officer now owns 19,488 shares in the company, valued at $2,267,428.80. This represents a 4.88 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Company insiders own 0.70% of the company’s stock.

Institutional Investors Weigh In On Chord Energy

Hedge funds and other institutional investors have recently bought and sold shares of the business. Rhumbline Advisers grew its stake in shares of Chord Energy by 24.1% in the 2nd quarter. Rhumbline Advisers now owns 169,663 shares of the company’s stock worth $28,449,000 after purchasing an additional 32,995 shares during the last quarter. Oregon Public Employees Retirement Fund boosted its holdings in Chord Energy by 26.5% during the second quarter. Oregon Public Employees Retirement Fund now owns 12,896 shares of the company’s stock worth $2,162,000 after buying an additional 2,700 shares in the last quarter. TD Asset Management Inc grew its position in Chord Energy by 101.4% in the second quarter. TD Asset Management Inc now owns 10,070 shares of the company’s stock worth $1,689,000 after buying an additional 5,070 shares during the last quarter. Foster & Motley Inc. grew its position in Chord Energy by 80.4% in the second quarter. Foster & Motley Inc. now owns 4,249 shares of the company’s stock worth $712,000 after buying an additional 1,894 shares during the last quarter. Finally, National Bank of Canada FI increased its holdings in shares of Chord Energy by 5,164.0% in the second quarter. National Bank of Canada FI now owns 7,896 shares of the company’s stock valued at $1,333,000 after buying an additional 7,746 shares in the last quarter. 97.76% of the stock is currently owned by institutional investors.

Chord Energy Price Performance

Shares of NASDAQ CHRD opened at $118.89 on Friday. The company has a quick ratio of 0.89, a current ratio of 0.93 and a debt-to-equity ratio of 0.10. Chord Energy has a fifty-two week low of $109.59 and a fifty-two week high of $190.23. The business has a 50 day moving average price of $123.02 and a two-hundred day moving average price of $141.15. The firm has a market cap of $7.27 billion, a PE ratio of 6.12, a price-to-earnings-growth ratio of 4.79 and a beta of 0.96.

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

Chord Energy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Wednesday, November 27th were paid a dividend of $1.25 per share. The ex-dividend date of this dividend was Wednesday, November 27th. This represents a $5.00 annualized dividend and a yield of 4.21%. Chord Energy’s payout ratio is 25.75%.

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.