Chord Energy Co. (NASDAQ:CHRD) Receives $190.18 Consensus PT from Brokerages

Chord Energy Co. (NASDAQ:CHRD) has received an average rating of “Moderate Buy” from the thirteen research firms that are currently covering the company, Marketbeat.com reports. Two investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $190.18.

Several equities research analysts recently weighed in on the stock. Royal Bank of Canada restated an “outperform” rating and issued a $200.00 price target on shares of Chord Energy in a research report on Friday, September 20th. Jefferies Financial Group began coverage on shares of Chord Energy in a report on Thursday, September 5th. They issued a “hold” rating and a $160.00 target price on the stock. Wells Fargo & Company lowered their price target on shares of Chord Energy from $185.00 to $180.00 and set an “overweight” rating for the company in a report on Wednesday, October 16th. Siebert Williams Shank upgraded Chord Energy to a “strong-buy” rating in a research report on Tuesday, October 15th. Finally, Bank of America upped their price objective on Chord Energy from $201.00 to $208.00 and gave the company a “buy” rating in a research report on Wednesday, August 21st.

Insider Buying and Selling at Chord Energy

In related news, Director Samantha Holroyd bought 500 shares of the stock in a transaction dated Friday, August 23rd. The stock was purchased at an average cost of $149.51 per share, with a total value of $74,755.00. Following the completion of the purchase, the director now owns 14,417 shares of the company’s stock, valued at $2,155,485.67. This trade represents a 3.59 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.70% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. FMR LLC grew its stake in Chord Energy by 2.2% in the 3rd quarter. FMR LLC now owns 3,420,012 shares of the company’s stock worth $445,388,000 after acquiring an additional 74,165 shares in the last quarter. State Street Corp grew its stake in Chord Energy by 0.9% in the third quarter. State Street Corp now owns 2,485,777 shares of the company’s stock worth $323,723,000 after purchasing an additional 22,753 shares in the last quarter. Victory Capital Management Inc. increased its holdings in Chord Energy by 41.3% during the 3rd quarter. Victory Capital Management Inc. now owns 2,245,435 shares of the company’s stock worth $292,423,000 after purchasing an additional 656,374 shares during the period. Dimensional Fund Advisors LP raised its position in Chord Energy by 72.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,771,780 shares of the company’s stock valued at $297,090,000 after purchasing an additional 741,705 shares in the last quarter. Finally, Boston Partners raised its position in Chord Energy by 107.0% during the 1st quarter. Boston Partners now owns 1,305,942 shares of the company’s stock valued at $232,813,000 after purchasing an additional 674,965 shares in the last quarter. Hedge funds and other institutional investors own 97.76% of the company’s stock.

Chord Energy Stock Down 2.8 %

CHRD opened at $127.28 on Thursday. The company has a market capitalization of $7.78 billion, a PE ratio of 6.55, a price-to-earnings-growth ratio of 5.07 and a beta of 0.98. The firm has a 50-day simple moving average of $131.20 and a two-hundred day simple moving average of $154.29. The company has a quick ratio of 0.89, a current ratio of 0.93 and a debt-to-equity ratio of 0.10. Chord Energy has a 52 week low of $123.30 and a 52 week high of $190.23.

Chord Energy (NASDAQ:CHRD) last announced its quarterly earnings results on Wednesday, November 6th. The company reported $3.40 EPS for the quarter, missing analysts’ consensus estimates of $3.63 by ($0.23). The firm had revenue of $1.12 billion for the quarter, compared to the consensus estimate of $1.26 billion. Chord Energy had a net margin of 19.74% and a return on equity of 12.88%. Chord Energy’s quarterly revenue was up 33.4% on a year-over-year basis. During the same period in the previous year, the company posted $5.04 earnings per share. Analysts forecast that Chord Energy will post 16.87 earnings per share for the current fiscal year.

Chord Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Wednesday, November 27th will be paid a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a dividend yield of 3.93%. The ex-dividend date is Wednesday, November 27th. Chord Energy’s dividend payout ratio is currently 25.75%.

About Chord Energy

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.