Chord Energy Co. (NASDAQ:CHRD) Receives $164.62 Average Target Price from Brokerages

Chord Energy Co. (NASDAQ:CHRD) has been given an average recommendation of “Moderate Buy” by the thirteen analysts that are currently covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $164.62.

CHRD has been the subject of a number of research analyst reports. Wolfe Research raised shares of Chord Energy from a “peer perform” rating to an “outperform” rating and set a $155.00 price objective for the company in a report on Friday, January 3rd. Truist Financial lifted their price objective on shares of Chord Energy from $185.00 to $186.00 and gave the stock a “buy” rating in a report on Monday, January 13th. UBS Group dropped their price objective on shares of Chord Energy from $168.00 to $161.00 and set a “buy” rating for the company in a report on Monday, December 9th. Williams Trading set a $155.00 price objective on shares of Chord Energy in a report on Wednesday, March 5th. Finally, Bank of America reaffirmed a “neutral” rating and set a $138.00 price objective (down from $208.00) on shares of Chord Energy in a report on Monday, January 13th.

Chord Energy Stock Down 1.0 %

CHRD opened at $109.71 on Wednesday. The company has a fifty day moving average price of $112.92 and a 200-day moving average price of $122.16. The firm has a market capitalization of $6.54 billion, a P/E ratio of 5.65, a price-to-earnings-growth ratio of 5.83 and a beta of 0.98. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.93 and a quick ratio of 0.89. Chord Energy has a one year low of $99.40 and a one year high of $190.23.

Chord Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 26th. Shareholders of record on Tuesday, March 11th will be issued a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a yield of 4.74%. The ex-dividend date of this dividend is Tuesday, March 11th. This is a boost from Chord Energy’s previous quarterly dividend of $1.25. Chord Energy’s dividend payout ratio is 32.62%.

Institutional Investors Weigh In On Chord Energy

A number of hedge funds and other institutional investors have recently bought and sold shares of CHRD. GSA Capital Partners LLP purchased a new stake in Chord Energy in the third quarter worth about $218,000. Swiss National Bank lifted its stake in shares of Chord Energy by 0.6% in the third quarter. Swiss National Bank now owns 185,022 shares of the company’s stock worth $24,095,000 after buying an additional 1,100 shares in the last quarter. Quest Partners LLC lifted its stake in shares of Chord Energy by 718,700.0% in the third quarter. Quest Partners LLC now owns 7,188 shares of the company’s stock worth $936,000 after buying an additional 7,187 shares in the last quarter. Lindenwold Advisors INC lifted its stake in shares of Chord Energy by 5.0% in the third quarter. Lindenwold Advisors INC now owns 2,523 shares of the company’s stock worth $329,000 after buying an additional 119 shares in the last quarter. Finally, Beddow Capital Management Inc. bought a new position in shares of Chord Energy in the third quarter worth approximately $522,000. Hedge funds and other institutional investors own 97.76% of the company’s stock.

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.