Chord Energy Corporation (NASDAQ:CHRD) Receives $131.91 Consensus Target Price from Analysts

Shares of Chord Energy Corporation (NASDAQ:CHRD) have been assigned an average rating of “Moderate Buy” from the thirteen ratings firms that are presently covering the stock, MarketBeat Ratings reports. Five research analysts have rated the stock with a hold recommendation and eight have given a buy recommendation to the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $126.1667.

A number of equities analysts recently weighed in on the company. Weiss Ratings reissued a “hold (c-)” rating on shares of Chord Energy in a research note on Wednesday, October 8th. Royal Bank Of Canada decreased their target price on shares of Chord Energy from $135.00 to $128.00 and set an “outperform” rating for the company in a report on Tuesday. Morgan Stanley set a $123.00 price target on shares of Chord Energy in a report on Thursday, November 20th. Scotiabank restated a “sector perform” rating and issued a $114.00 price target on shares of Chord Energy in a research report on Friday. Finally, Jefferies Financial Group set a $99.00 price objective on shares of Chord Energy in a research report on Saturday.

Chord Energy Trading Up 0.4%

Chord Energy stock opened at $92.30 on Tuesday. The firm has a market cap of $5.25 billion, a price-to-earnings ratio of 35.50 and a beta of 0.92. Chord Energy has a 1 year low of $79.83 and a 1 year high of $127.20. The firm’s 50 day moving average price is $92.77 and its two-hundred day moving average price is $98.34. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.28 and a current ratio of 1.35.

Chord Energy (NASDAQ:CHRD) last released its quarterly earnings data on Tuesday, November 4th. The company reported $2.35 earnings per share for the quarter, topping the consensus estimate of $2.24 by $0.11. The business had revenue of $1.31 billion during the quarter, compared to analyst estimates of $1.02 billion. Chord Energy had a return on equity of 8.27% and a net margin of 3.31%.The company’s revenue was up 17.0% compared to the same quarter last year. During the same period last year, the company posted $3.40 EPS. On average, research analysts predict that Chord Energy will post 15.59 EPS for the current fiscal year.

Chord Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, December 5th. Investors of record on Wednesday, November 19th were given a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a yield of 5.6%. The ex-dividend date of this dividend was Wednesday, November 19th. Chord Energy’s payout ratio is presently 200.00%.

Insider Transactions at Chord Energy

In other Chord Energy news, Director Samantha Holroyd acquired 1,250 shares of the firm’s stock in a transaction on Friday, November 7th. The stock was purchased at an average cost of $85.50 per share, for a total transaction of $106,875.00. Following the transaction, the director owned 17,706 shares of the company’s stock, valued at $1,513,863. The trade was a 7.60% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.70% of the company’s stock.

Institutional Trading of Chord Energy

Hedge funds have recently made changes to their positions in the stock. Bayforest Capital Ltd purchased a new position in Chord Energy during the second quarter valued at approximately $28,000. WealthCollab LLC boosted its stake in shares of Chord Energy by 90.6% during the 2nd quarter. WealthCollab LLC now owns 305 shares of the company’s stock valued at $30,000 after buying an additional 145 shares during the period. Quent Capital LLC purchased a new position in shares of Chord Energy during the 3rd quarter valued at $32,000. Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in shares of Chord Energy by 91.2% during the 2nd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 411 shares of the company’s stock valued at $40,000 after acquiring an additional 196 shares in the last quarter. Finally, Pilgrim Partners Asia Pte Ltd acquired a new position in shares of Chord Energy in the third quarter worth $46,000. 97.76% of the stock is owned by hedge funds and other institutional investors.

About Chord Energy

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.