Shares of Chord Energy Corporation (NASDAQ:CHRD – Get Free Report) have received a consensus recommendation of “Moderate Buy” from the seventeen research firms that are presently covering the stock, Marketbeat.com reports. Six equities research analysts have rated the stock with a hold recommendation, ten have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $165.54.
CHRD has been the subject of several research analyst reports. UBS Group lowered their target price on shares of Chord Energy from $189.00 to $184.00 and set a “buy” rating for the company in a research note on Tuesday, September 22nd. Mizuho raised shares of Chord Energy to a “strong-buy” rating in a research note on Friday, July 31st. Zacks Research raised shares of Chord Energy from a “strong sell” rating to a “hold” rating in a research note on Wednesday, September 9th. Roth Capital restated a “buy” rating and issued a $145.00 price objective on shares of Chord Energy in a report on Wednesday, July 15th. Finally, Stifel Nicolaus assumed coverage on Chord Energy in a research report on Thursday, September 10th. They issued a “buy” rating and a $182.00 target price on the stock.
Get Our Latest Analysis on Chord Energy
Insider Activity
Institutional Trading of Chord Energy
Institutional investors and hedge funds have recently bought and sold shares of the business. Core Capital Management & Research inc. purchased a new stake in Chord Energy during the 2nd quarter worth approximately $668,000. Sequoia Financial Advisors LLC lifted its holdings in Chord Energy by 24.2% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 5,107 shares of the company’s stock worth $584,000 after buying an additional 994 shares in the last quarter. Tidal Investments LLC boosted its position in Chord Energy by 299.2% in the 2nd quarter. Tidal Investments LLC now owns 29,843 shares of the company’s stock valued at $3,411,000 after buying an additional 22,368 shares during the period. Engineers Gate Manager LP purchased a new position in Chord Energy in the 2nd quarter valued at approximately $8,004,000. Finally, Allworth Financial LP grew its stake in shares of Chord Energy by 16.6% in the second quarter. Allworth Financial LP now owns 1,189 shares of the company’s stock worth $136,000 after acquiring an additional 169 shares in the last quarter. 97.76% of the stock is currently owned by hedge funds and other institutional investors.
Chord Energy Price Performance
CHRD stock opened at $136.27 on Friday. Chord Energy has a 52-week low of $84.25 and a 52-week high of $157.06. The company has a quick ratio of 1.15, a current ratio of 1.22 and a debt-to-equity ratio of 0.18. The stock has a market cap of $7.45 billion, a price-to-earnings ratio of 9.13 and a beta of 0.50. The business has a fifty day moving average of $141.67 and a two-hundred day moving average of $135.62.
Chord Energy (NASDAQ:CHRD – Get Free Report) last announced its quarterly earnings results on Wednesday, August 5th. The company reported $6.44 EPS for the quarter, missing the consensus estimate of $6.55 by ($0.11). The business had revenue of $2.17 billion during the quarter, compared to analyst estimates of $1.62 billion. Chord Energy had a net margin of 13.42% and a return on equity of 10.18%. The business’s revenue for the quarter was up 128.6% on a year-over-year basis. During the same period last year, the company earned $1.79 EPS. As a group, research analysts anticipate that Chord Energy will post 20.55 earnings per share for the current year.
Chord Energy Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Friday, September 4th. Stockholders of record on Thursday, August 20th were given a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a dividend yield of 3.8%. The ex-dividend date was Thursday, August 20th. Chord Energy’s dividend payout ratio (DPR) is currently 34.85%.
Chord Energy Company Profile
Chord Energy Corporation (NASDAQ: CHRD) is an independent exploration and production company focused on developing and producing oil, natural gas and natural gas liquids. Its operations are concentrated in the Williston Basin, primarily across the Bakken and Three Forks formations in North Dakota and Montana.
The company’s activities include acquiring acreage, drilling and completing wells, and managing the production and sale of hydrocarbons. Chord’s portfolio is weighted toward crude oil, with associated natural gas and natural gas liquids contributing to its production mix.
Chord Energy was formed through the 2022 combination of Oasis Petroleum and Whiting Petroleum, two companies with established operations in the Williston Basin.
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