Chord Energy (NASDAQ:CHRD – Free Report) had its price target trimmed by Citigroup from $155.00 to $130.00 in a report published on Friday,Benzinga reports. The firm currently has a neutral rating on the stock.
A number of other research firms also recently commented on CHRD. Zacks Research downgraded shares of Chord Energy from a “strong-buy” rating to a “hold” rating in a report on Tuesday, June 9th. Mizuho upped their target price on shares of Chord Energy from $164.00 to $175.00 and gave the company an “outperform” rating in a research note on Wednesday, May 27th. Wall Street Zen lowered shares of Chord Energy from a “strong-buy” rating to a “buy” rating in a research report on Saturday, June 27th. Wells Fargo & Company lifted their price objective on Chord Energy from $136.00 to $175.00 and gave the company an “overweight” rating in a report on Wednesday, April 8th. Finally, Scotiabank upped their price objective on Chord Energy from $114.00 to $135.00 and gave the company a “sector perform” rating in a research note on Wednesday, April 22nd. Eleven equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $152.00.
View Our Latest Analysis on CHRD
Chord Energy Stock Performance
Chord Energy (NASDAQ:CHRD – Get Free Report) last released its earnings results on Tuesday, May 5th. The company reported $4.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.51 by $1.05. Chord Energy had a positive return on equity of 7.06% and a negative net margin of 1.25%.The firm had revenue of $1.67 billion for the quarter, compared to analyst estimates of $1.21 billion. During the same quarter last year, the firm posted $4.04 EPS. The company’s revenue was up 37.1% on a year-over-year basis. On average, sell-side analysts forecast that Chord Energy will post 18.13 EPS for the current year.
Chord Energy Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Friday, June 5th. Investors of record on Wednesday, May 20th were issued a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a yield of 4.4%. The ex-dividend date of this dividend was Wednesday, May 20th. Chord Energy’s dividend payout ratio (DPR) is currently -460.18%.
Insider Transactions at Chord Energy
In other Chord Energy news, Director Douglas E. Brooks sold 3,500 shares of the business’s stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $136.71, for a total value of $478,485.00. Following the transaction, the director directly owned 20,205 shares in the company, valued at $2,762,225.55. The trade was a 14.76% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Darrin J. Henke sold 1,276 shares of the stock in a transaction that occurred on Friday, May 15th. The stock was sold at an average price of $145.97, for a total value of $186,257.72. Following the sale, the chief operating officer owned 21,157 shares in the company, valued at approximately $3,088,287.29. This trade represents a 5.69% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 9,276 shares of company stock worth $1,285,968. Company insiders own 0.79% of the company’s stock.
Institutional Trading of Chord Energy
Several institutional investors and hedge funds have recently added to or reduced their stakes in CHRD. Bessemer Group Inc. lifted its stake in Chord Energy by 63.8% in the first quarter. Bessemer Group Inc. now owns 190 shares of the company’s stock valued at $27,000 after buying an additional 74 shares during the period. Versant Capital Management Inc grew its position in shares of Chord Energy by 330.9% during the 2nd quarter. Versant Capital Management Inc now owns 237 shares of the company’s stock worth $27,000 after buying an additional 182 shares during the period. V Square Quantitative Management LLC acquired a new position in shares of Chord Energy during the 1st quarter worth about $29,000. WealthCollab LLC increased its stake in shares of Chord Energy by 90.6% in the 2nd quarter. WealthCollab LLC now owns 305 shares of the company’s stock valued at $30,000 after acquiring an additional 145 shares during the last quarter. Finally, Root Financial Partners LLC increased its stake in shares of Chord Energy by 178.6% in the 1st quarter. Root Financial Partners LLC now owns 234 shares of the company’s stock valued at $33,000 after acquiring an additional 150 shares during the last quarter. 97.76% of the stock is owned by institutional investors.
Chord Energy Company Profile
Chord Energy Corporation (NASDAQ: CHRD), formerly known as Oasis Petroleum Inc, is an independent exploration and production company focused on the acquisition, development and production of crude oil, natural gas and natural gas liquids. Headquartered in Houston, Texas, Chord Energy emerged from financial restructuring in early 2021 and rebranded in October 2022 to reflect its renewed strategic vision.
The company’s core operations are concentrated in two prolific U.S. resource plays: the Williston Basin across North Dakota and Montana, and the Delaware Basin spanning parts of West Texas and southeastern New Mexico.
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