Chord Energy (NASDAQ:CHRD – Free Report) had its target price increased by UBS Group from $193.00 to $197.00 in a research report sent to investors on Tuesday morning, MarketBeat.com reports. They currently have a buy rating on the stock.
Several other analysts have also issued reports on CHRD. Scotiabank initiated coverage on shares of Chord Energy in a research report on Wednesday, October 14th. They issued a “sector outperform” rating and a $192.00 price target on the stock. Weiss Ratings raised shares of Chord Energy from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, October 8th. Seaport Research Partners assumed coverage on shares of Chord Energy in a research note on Thursday, September 3rd. They issued a “neutral” rating for the company. Roth Capital reiterated a “buy” rating and issued a $165.00 price objective on shares of Chord Energy in a research note on Monday. Finally, Jefferies Financial Group boosted their target price on shares of Chord Energy from $133.00 to $150.00 and gave the company a “hold” rating in a report on Friday, September 18th. Two research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $174.54.
View Our Latest Report on Chord Energy
Chord Energy Stock Down 0.2%
CHRD stock opened at $150.48 on Tuesday. The stock has a fifty day moving average of $144.65 and a 200-day moving average of $136.99. Chord Energy has a fifty-two week low of $84.25 and a fifty-two week high of $157.06. The company has a market capitalization of $8.23 billion, a price-to-earnings ratio of 10.31 and a beta of 0.59. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.15 and a current ratio of 1.22.
Chord Energy (NASDAQ:CHRD – Get Free Report) last announced its quarterly earnings data on Wednesday, August 5th. The company reported $6.44 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $6.55 by ($0.11). The firm had revenue of $2.17 billion during the quarter, compared to the consensus estimate of $1.62 billion. Chord Energy had a net margin of 13.42% and a return on equity of 10.18%. The company’s revenue was up 128.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.79 earnings per share. As a group, equities research analysts predict that Chord Energy will post 22.30 earnings per share for the current year.
Chord Energy Announces Dividend
The business also recently disclosed 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. The ex-dividend date was Thursday, August 20th. This represents a $5.20 annualized dividend and a dividend yield of 3.5%. Chord Energy’s dividend payout ratio (DPR) is 34.85%.
Insider Buying and Selling at Chord Energy
In other Chord Energy news, Director Douglas Brooks sold 8,000 shares of Chord Energy stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $133.14, for a total transaction of $1,065,120.00. Following the completion of the sale, the director owned 10,705 shares of the company’s stock, valued at $1,425,263.70. The trade was a 42.77% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Samantha Mckinney sold 9,750 shares of the business’s stock in a transaction that occurred on Tuesday, September 1st. The stock was sold at an average price of $149.94, for a total value of $1,461,915.00. Following the completion of the sale, the director owned 7,280 shares of the company’s stock, valued at $1,091,563.20. The trade was a 57.25% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 23,969 shares of company stock worth $3,389,599 over the last 90 days. Corporate insiders own 0.79% of the company’s stock.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently made changes to their positions in the company. Bank of New York Mellon Corp purchased a new position in shares of Chord Energy in the second quarter valued at about $66,489,000. Jennison Associates LLC purchased a new stake in shares of Chord Energy in the 1st quarter worth about $60,190,000. Dimensional Fund Advisors LP lifted its position in shares of Chord Energy by 27.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,547,732 shares of the company’s stock worth $220,078,000 after purchasing an additional 329,565 shares during the period. First Trust Advisors LP lifted its position in shares of Chord Energy by 98.2% in the 1st quarter. First Trust Advisors LP now owns 579,920 shares of the company’s stock worth $82,453,000 after purchasing an additional 287,340 shares during the period. Finally, Goehring & Rozencwajg Associates LLC bought a new stake in shares of Chord Energy during the 1st quarter valued at about $40,302,000. Institutional investors own 97.76% of the company’s stock.
Chord Energy Company Profile
Chord Energy Corporation is an independent exploration and production company focused on the development and operation of oil and natural gas properties in the United States. Its portfolio is concentrated in the Williston Basin, which spans parts of North Dakota and Montana. The company’s production mix includes crude oil, natural gas and natural gas liquids.
Chord’s operations include acquiring, developing and producing hydrocarbons from operated and non-operated wells, with an emphasis on drilling and completion activities in the Bakken and Three Forks formations.
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