Shares of Chord Energy Corporation (NASDAQ:CHRD – Get Free Report) have received an average recommendation of “Moderate Buy” from the sixteen brokerages that are covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, four have issued a hold recommendation, ten have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year target price among analysts that have covered the stock in the last year is $152.5385.
CHRD has been the topic of a number of research reports. Mizuho raised shares of Chord Energy to a “strong-buy” rating in a research note on Friday, July 31st. Morgan Stanley reduced their target price on Chord Energy from $175.00 to $169.00 and set an “overweight” rating for the company in a report on Monday, June 29th. Citigroup decreased their target price on Chord Energy from $155.00 to $130.00 and set a “neutral” rating on the stock in a research report on Friday, July 10th. Zacks Research lowered Chord Energy from a “hold” rating to a “strong sell” rating in a research note on Tuesday, August 11th. Finally, BMO Capital Markets reiterated an “outperform” rating on shares of Chord Energy in a research report on Monday, June 29th.
Get Our Latest Research Report on Chord Energy
Insider Transactions at Chord Energy
Institutional Inflows and Outflows
A number of institutional investors have recently bought and sold shares of CHRD. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in shares of Chord Energy in the second quarter valued at approximately $423,000. California State Teachers Retirement System lifted its position in Chord Energy by 11,278.5% during the second quarter. California State Teachers Retirement System now owns 7,608,151 shares of the company’s stock worth $869,612,000 after buying an additional 7,541,287 shares in the last quarter. HB Wealth Management LLC boosted its stake in Chord Energy by 21.4% during the second quarter. HB Wealth Management LLC now owns 2,942 shares of the company’s stock worth $336,000 after buying an additional 518 shares during the last quarter. AlphaGrep UK Ltd acquired a new position in Chord Energy during the second quarter worth $310,000. Finally, Odyssean LLC acquired a new position in Chord Energy during the second quarter worth $444,000. 97.76% of the stock is owned by hedge funds and other institutional investors.
Chord Energy Stock Performance
NASDAQ:CHRD opened at $150.41 on Wednesday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.15 and a current ratio of 1.22. The company has a fifty day moving average of $131.75 and a two-hundred day moving average of $130.92. The stock has a market capitalization of $8.23 billion, a PE ratio of 10.08 and a beta of 0.50. Chord Energy has a fifty-two week low of $84.25 and a fifty-two week high of $153.00.
Chord Energy (NASDAQ:CHRD – Get Free Report) last posted its quarterly earnings data on Wednesday, August 5th. The company reported $6.44 earnings per share (EPS) for the quarter, missing the consensus estimate of $6.55 by ($0.11). Chord Energy had a net margin of 13.42% and a return on equity of 10.18%. The company had revenue of $2.17 billion for the quarter, compared to analysts’ expectations of $1.62 billion. During the same period in the previous year, the business earned $1.79 earnings per share. The business’s revenue for the quarter was up 128.6% on a year-over-year basis. As a group, research analysts forecast that Chord Energy will post 18.61 earnings per share for the current fiscal year.
Chord Energy Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 4th. Shareholders of record on Thursday, August 20th will be paid a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a yield of 3.5%. The ex-dividend date of this dividend is Thursday, August 20th. Chord Energy’s payout ratio is 34.85%.
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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