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

Chord Energy Co. (NASDAQ:CHRD) has earned an average recommendation of “Moderate Buy” from the thirteen analysts that are presently covering the company, Marketbeat.com reports. Two research analysts have rated the stock with a hold recommendation, ten have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price target among brokers that have covered the stock in the last year is $190.27.

Several research analysts have issued reports on CHRD shares. Bank of America lifted their price target on shares of Chord Energy from $201.00 to $208.00 and gave the stock a “buy” rating in a research report on Wednesday, August 21st. Citigroup decreased their target price on Chord Energy from $195.00 to $180.00 and set a “buy” rating on the stock in a report on Monday, August 12th. Piper Sandler upped their target price on Chord Energy from $211.00 to $212.00 and gave the company an “overweight” rating in a report on Monday. BMO Capital Markets dropped their price target on Chord Energy from $205.00 to $175.00 and set an “outperform” rating on the stock in a research note on Friday, October 4th. Finally, Jefferies Financial Group initiated coverage on Chord Energy in a report on Thursday, September 5th. They set a “hold” rating and a $160.00 price objective on the stock.

Chord Energy Stock Up 2.4 %

CHRD opened at $130.33 on Thursday. The stock’s fifty day moving average is $131.20 and its 200-day moving average is $154.15. Chord Energy has a one year low of $123.30 and a one year high of $190.23. The company has a market capitalization of $7.97 billion, a PE ratio of 6.71, a P/E/G ratio of 5.02 and a beta of 0.98. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.89 and a current ratio of 0.93.

Chord Energy (NASDAQ:CHRD) last issued its quarterly earnings results on Wednesday, November 6th. The company reported $3.40 earnings per share for the quarter, missing analysts’ consensus estimates of $3.63 by ($0.23). The business had revenue of $1.12 billion during the quarter, compared to analyst estimates of $1.26 billion. Chord Energy had a net margin of 19.74% and a return on equity of 12.88%. Chord Energy’s revenue was up 33.4% compared to the same quarter last year. During the same period in the previous year, the company posted $5.04 earnings per share. On average, equities analysts predict that Chord Energy will post 16.8 EPS for the current fiscal year.

Chord Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Wednesday, November 27th will be issued a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a dividend yield of 3.84%. The ex-dividend date of this dividend is Wednesday, November 27th. Chord Energy’s dividend payout ratio is currently 25.75%.

Insider Activity at Chord Energy

In related news, Director Samantha Holroyd bought 500 shares of the firm’s stock in a transaction on Friday, August 23rd. The stock was bought at an average price of $149.51 per share, with a total value of $74,755.00. Following the purchase, the director now directly owns 14,417 shares of the company’s stock, valued at approximately $2,155,485.67. This represents a 3.59 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.70% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Chord Energy

A number of hedge funds have recently modified their holdings of the stock. TD Private Client Wealth LLC boosted its position in Chord Energy by 18.3% during the third quarter. TD Private Client Wealth LLC now owns 1,631 shares of the company’s stock valued at $212,000 after purchasing an additional 252 shares during the last quarter. Fortem Financial Group LLC lifted its holdings in shares of Chord Energy by 9.1% during the 3rd quarter. Fortem Financial Group LLC now owns 6,719 shares of the company’s stock valued at $875,000 after buying an additional 559 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Chord Energy by 3.0% during the 3rd quarter. Geode Capital Management LLC now owns 1,162,442 shares of the company’s stock valued at $151,077,000 after buying an additional 34,156 shares during the last quarter. Barclays PLC grew its stake in shares of Chord Energy by 3.7% in the 3rd quarter. Barclays PLC now owns 64,711 shares of the company’s stock valued at $8,427,000 after buying an additional 2,318 shares in the last quarter. Finally, Nomura Asset Management Co. Ltd. increased its holdings in Chord Energy by 86.9% in the third quarter. Nomura Asset Management Co. Ltd. now owns 30,678 shares of the company’s stock worth $3,995,000 after buying an additional 14,267 shares during the last quarter. 97.76% of the stock is owned by institutional investors and hedge funds.

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.