Chord Energy Corporation (NASDAQ:CHRD) Receives $144.67 Average Target Price from Analysts

Shares of Chord Energy Corporation (NASDAQ:CHRD) have received a consensus recommendation of “Moderate Buy” from the thirteen ratings firms that are covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, nine have issued a buy rating and one has issued a strong buy rating on the company. The average 1-year price target among analysts that have covered the stock in the last year is $143.4167.

Several analysts have recently issued reports on CHRD shares. Wall Street Zen lowered Chord Energy from a “hold” rating to a “sell” rating in a report on Friday, July 18th. Piper Sandler reduced their target price on Chord Energy from $169.00 to $167.00 and set an “overweight” rating on the stock in a report on Friday, October 3rd. Scotiabank began coverage on Chord Energy in a report on Friday, September 19th. They set a “sector perform” rating and a $120.00 target price on the stock. Wells Fargo & Company upped their price objective on Chord Energy from $146.00 to $149.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 17th. Finally, UBS Group upped their price objective on Chord Energy from $122.00 to $130.00 and gave the stock a “buy” rating in a research report on Tuesday, September 16th.

Chord Energy Stock Performance

CHRD opened at $90.59 on Friday. The firm has a market cap of $5.19 billion, a P/E ratio of 23.05 and a beta of 0.94. Chord Energy has a 52-week low of $79.83 and a 52-week high of $136.38. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.90 and a current ratio of 0.97. The business’s fifty day moving average is $103.08 and its 200-day moving average is $100.20.

Chord Energy (NASDAQ:CHRD) last released its earnings results on Wednesday, August 6th. The company reported $1.79 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.88 by ($0.09). The company had revenue of $1.18 billion for the quarter, compared to analyst estimates of $984.07 million. Chord Energy had a return on equity of 9.02% and a net margin of 5.02%.The business’s revenue for the quarter was up 5.3% compared to the same quarter last year. During the same period last year, the company posted $4.69 earnings per share. Sell-side analysts expect that Chord Energy will post 15.59 EPS for the current fiscal year.

Chord Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 8th. Investors of record on Thursday, August 21st were given a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a dividend yield of 5.7%. The ex-dividend date was Thursday, August 21st. Chord Energy’s dividend payout ratio is currently 132.32%.

Insider Buying and Selling at Chord Energy

In related news, EVP Shannon Browning Kinney sold 3,019 shares of the company’s stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $105.43, for a total transaction of $318,293.17. Following the completion of the sale, the executive vice president directly owned 14,650 shares in the company, valued at $1,544,549.50. This represents a 17.09% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.70% of the stock is currently owned by corporate insiders.

Institutional Trading of Chord Energy

Several institutional investors and hedge funds have recently modified their holdings of the business. Geode Capital Management LLC lifted its position in shares of Chord Energy by 1.0% during the 2nd quarter. Geode Capital Management LLC now owns 1,890,420 shares of the company’s stock worth $183,112,000 after buying an additional 19,227 shares during the last quarter. American Century Companies Inc. raised its position in Chord Energy by 15.5% in the second quarter. American Century Companies Inc. now owns 1,337,079 shares of the company’s stock valued at $129,496,000 after purchasing an additional 179,209 shares during the last quarter. Sourcerock Group LLC raised its position in Chord Energy by 2.1% in the second quarter. Sourcerock Group LLC now owns 1,031,973 shares of the company’s stock valued at $99,947,000 after purchasing an additional 20,916 shares during the last quarter. Adage Capital Partners GP L.L.C. raised its position in Chord Energy by 22.2% in the second quarter. Adage Capital Partners GP L.L.C. now owns 990,381 shares of the company’s stock valued at $95,918,000 after purchasing an additional 180,000 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC raised its position in Chord Energy by 4.1% in the second quarter. Allspring Global Investments Holdings LLC now owns 824,760 shares of the company’s stock valued at $83,169,000 after purchasing an additional 32,802 shares during the last quarter. 97.76% of the stock is currently owned by institutional investors.

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.