Chord Energy Co. (NASDAQ:CHRD) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Shares of Chord Energy Co. (NASDAQ:CHRD) have been given an average rating of “Moderate Buy” by the ten ratings firms that are presently covering the stock, Marketbeat reports. One research analyst has rated the stock with a hold recommendation and nine have issued a buy recommendation on the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $206.78.

CHRD has been the subject of several research reports. Mizuho raised their price objective on shares of Chord Energy from $195.00 to $214.00 and gave the stock a “buy” rating in a research report on Monday, May 13th. BMO Capital Markets initiated coverage on shares of Chord Energy in a research report on Monday, June 3rd. They set an “outperform” rating and a $230.00 price objective for the company. Wolfe Research initiated coverage on shares of Chord Energy in a report on Thursday, July 18th. They set a “peer perform” rating on the stock. Citigroup lowered their target price on shares of Chord Energy from $195.00 to $180.00 and set a “buy” rating on the stock in a report on Monday, August 12th. Finally, Bank of America raised 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.

Insider Buying and Selling at Chord Energy

In other Chord Energy news, Director Samantha Holroyd purchased 500 shares of the business’s stock in a transaction dated Friday, August 23rd. The shares were bought at an average price of $149.51 per share, for a total transaction of $74,755.00. Following the completion of the acquisition, the director now owns 14,417 shares in the company, valued at $2,155,485.67. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.70% of the company’s stock.

Hedge Funds Weigh In On Chord Energy

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Rise Advisors LLC bought a new stake in shares of Chord Energy during the first quarter worth about $31,000. Ashton Thomas Private Wealth LLC bought a new stake in Chord Energy in the 2nd quarter worth about $40,000. Benjamin F. Edwards & Company Inc. grew its position in Chord Energy by 125.9% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 244 shares of the company’s stock worth $41,000 after purchasing an additional 136 shares in the last quarter. SRS Capital Advisors Inc. grew its position in Chord Energy by 306.9% in the 4th quarter. SRS Capital Advisors Inc. now owns 293 shares of the company’s stock worth $49,000 after purchasing an additional 221 shares in the last quarter. Finally, GAMMA Investing LLC grew its position in Chord Energy by 151.6% in the 2nd quarter. GAMMA Investing LLC now owns 317 shares of the company’s stock worth $53,000 after purchasing an additional 191 shares in the last quarter. Institutional investors and hedge funds own 97.76% of the company’s stock.

Chord Energy Trading Down 0.4 %

Shares of NASDAQ:CHRD opened at $148.43 on Friday. Chord Energy has a 52-week low of $145.35 and a 52-week high of $190.23. The company has a market capitalization of $6.19 billion, a P/E ratio of 6.97, a price-to-earnings-growth ratio of 0.92 and a beta of 1.01. The company has a 50-day simple moving average of $162.79 and a 200 day simple moving average of $169.80. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.07 and a current ratio of 1.14.

Chord Energy (NASDAQ:CHRD) last issued its earnings results on Wednesday, August 7th. The company reported $4.69 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.00 by ($0.31). The firm had revenue of $902.70 million during the quarter, compared to analyst estimates of $982.43 million. Chord Energy had a net margin of 22.67% and a return on equity of 16.57%. The company’s revenue for the quarter was up 29.8% on a year-over-year basis. During the same quarter last year, the business posted $3.65 earnings per share. Sell-side analysts forecast that Chord Energy will post 20.85 earnings per share for the current year.

Chord Energy Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 5th. Shareholders of record on Wednesday, August 21st will be given a $1.25 dividend. The ex-dividend date of this dividend is Wednesday, August 21st. This represents a $5.00 dividend on an annualized basis and a yield of 3.37%. Chord Energy’s dividend payout ratio is currently 23.46%.

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.