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

Shares of Chord Energy Co. (NASDAQ:CHRD) have been assigned a consensus recommendation of “Moderate Buy” from the thirteen ratings firms that are presently covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, one has given a hold recommendation, ten have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year target price among brokers that have covered the stock in the last year is $153.77.

A number of research firms have recently commented on CHRD. Piper Sandler lowered their target price on Chord Energy from $184.00 to $183.00 and set an “overweight” rating for the company in a research note on Tuesday, April 22nd. Wall Street Zen cut Chord Energy from a “hold” rating to a “sell” rating in a research note on Friday, May 30th. Royal Bank of Canada lowered their price objective on Chord Energy from $165.00 to $145.00 and set an “outperform” rating for the company in a research note on Friday, April 11th. Wells Fargo & Company lowered their price objective on Chord Energy from $166.00 to $158.00 and set an “overweight” rating for the company in a research note on Tuesday, April 15th. Finally, Mizuho lowered their price objective on Chord Energy from $154.00 to $150.00 and set an “outperform” rating for the company in a research note on Tuesday, May 13th.

Insider Transactions at Chord Energy

In related news, EVP Shannon Browning Kinney sold 3,091 shares of Chord Energy stock in a transaction on Thursday, May 8th. The stock was sold at an average price of $94.10, for a total value of $290,863.10. Following the completion of the sale, the executive vice president now owns 21,277 shares of the company’s stock, valued at $2,002,165.70. The trade was a 12.68% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 0.70% of the company’s stock.

Institutional Trading of Chord Energy

Large investors have recently modified their holdings of the company. Altshuler Shaham Ltd bought a new stake in shares of Chord Energy in the fourth quarter worth $25,000. Twin Tree Management LP bought a new stake in shares of Chord Energy in the fourth quarter worth $33,000. Larson Financial Group LLC grew its holdings in shares of Chord Energy by 238.3% in the fourth quarter. Larson Financial Group LLC now owns 318 shares of the company’s stock worth $37,000 after acquiring an additional 224 shares during the period. R Squared Ltd bought a new stake in shares of Chord Energy in the fourth quarter worth $51,000. Finally, Hexagon Capital Partners LLC grew its holdings in shares of Chord Energy by 321.7% in the first quarter. Hexagon Capital Partners LLC now owns 447 shares of the company’s stock worth $50,000 after acquiring an additional 341 shares during the period. Institutional investors own 97.76% of the company’s stock.

Chord Energy Price Performance

Shares of CHRD stock opened at $94.89 on Monday. The firm has a market cap of $5.48 billion, a P/E ratio of 4.89, a P/E/G ratio of 5.83 and a beta of 0.96. Chord Energy has a fifty-two week low of $79.83 and a fifty-two week high of $181.17. The business’s 50 day moving average price is $92.61 and its 200-day moving average price is $107.53. 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 released its earnings results on Tuesday, May 6th. The company reported $4.04 EPS for the quarter, beating analysts’ consensus estimates of $3.60 by $0.44. The company had revenue of $1.22 billion during the quarter, compared to analysts’ expectations of $1.07 billion. Chord Energy had a return on equity of 12.88% and a net margin of 19.74%. The firm’s revenue for the quarter was up 12.0% compared to the same quarter last year. During the same quarter last year, the business posted $5.10 EPS. On average, equities research analysts anticipate that Chord Energy will post 15.59 earnings per share for the current year.

Chord Energy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 9th. Stockholders of record on Wednesday, May 21st will be paid a $1.30 dividend. This represents a $5.20 annualized dividend and a dividend yield of 5.48%. The ex-dividend date of this dividend is Wednesday, May 21st. Chord Energy’s dividend payout ratio is currently 34.78%.

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.