Chord Energy Co. (NASDAQ:CHRD) Given Average Rating of “Moderate Buy” by Analysts

Chord Energy Co. (NASDAQ:CHRD) has been given an average recommendation of “Moderate Buy” by the nine ratings firms that are presently covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a hold rating and eight have issued a buy rating on the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $204.00.

A number of research firms recently weighed in on CHRD. Bank of America reissued a “buy” rating and set a $201.00 target price on shares of Chord Energy in a research report on Friday. BMO Capital Markets began coverage on Chord Energy in a research report on Monday, June 3rd. They set an “outperform” rating and a $230.00 target price on the stock. Mizuho lifted their target price on Chord Energy from $195.00 to $214.00 and gave the stock a “buy” rating in a research report on Monday, May 13th. Stifel Nicolaus raised their price target on shares of Chord Energy from $178.00 to $211.00 and gave the stock a “buy” rating in a research note on Tuesday, February 27th. Finally, Truist Financial cut their price target on shares of Chord Energy from $228.00 to $226.00 and set a “buy” rating for the company in a research note on Monday, June 3rd.

Institutional Trading of Chord Energy

A number of institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. grew its holdings in shares of Chord Energy by 0.5% in the 3rd quarter. Vanguard Group Inc. now owns 4,351,393 shares of the company’s stock valued at $705,230,000 after buying an additional 21,034 shares during the period. FMR LLC grew its holdings in shares of Chord Energy by 12.9% in the 3rd quarter. FMR LLC now owns 3,185,243 shares of the company’s stock valued at $516,232,000 after buying an additional 364,673 shares during the period. Wellington Management Group LLP grew its holdings in shares of Chord Energy by 1.0% in the 3rd quarter. Wellington Management Group LLP now owns 2,671,474 shares of the company’s stock valued at $432,966,000 after buying an additional 26,896 shares during the period. First Trust Advisors LP grew its holdings in shares of Chord Energy by 11.0% in the 4th quarter. First Trust Advisors LP now owns 1,402,359 shares of the company’s stock valued at $233,114,000 after buying an additional 138,957 shares during the period. Finally, Boston Partners grew its holdings in shares of Chord Energy by 107.0% in the 1st quarter. Boston Partners now owns 1,305,942 shares of the company’s stock valued at $232,813,000 after buying an additional 674,965 shares during the period. Institutional investors and hedge funds own 97.76% of the company’s stock.

Chord Energy Trading Down 2.1 %

Shares of NASDAQ:CHRD opened at $162.42 on Monday. The stock has a market capitalization of $6.77 billion, a PE ratio of 7.62 and a beta of 1.05. Chord Energy has a 1 year low of $145.06 and a 1 year high of $190.23. The firm has a fifty day moving average price of $179.10 and a 200 day moving average price of $168.51. The company has a current ratio of 1.14, a quick ratio of 1.07 and a debt-to-equity ratio of 0.08.

Chord Energy (NASDAQ:CHRD) last issued its quarterly earnings data on Tuesday, May 7th. The company reported $5.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.75 by $0.35. Chord Energy had a net margin of 22.67% and a return on equity of 16.57%. The firm had revenue of $1.09 billion during the quarter, compared to analysts’ expectations of $771.87 million. During the same period in the prior year, the company posted $4.50 earnings per share. Chord Energy’s revenue for the quarter was up 24.8% on a year-over-year basis. Analysts expect that Chord Energy will post 22.63 EPS for the current fiscal year.

Chord Energy Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 5th. Shareholders of record on Wednesday, May 22nd were issued a dividend of $2.94 per share. This represents a $11.76 dividend on an annualized basis and a yield of 7.24%. The ex-dividend date was Tuesday, May 21st. Chord Energy’s dividend payout ratio is presently 23.46%.

Chord Energy Company Profile

Chord Energy Corporation operates as an independent exploration and production company in the United States. It acquires, explores, develops, and produces crude oil, natural gas, and natural gas liquids in the Williston Basin. The company sells its products to refiners, marketers, and other purchasers that have access to nearby pipeline and rail facilities.