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

Chord Energy Co. (NASDAQ:CHRD) has earned an average recommendation of “Moderate Buy” from the thirteen analysts that are presently covering the stock, MarketBeat.com reports. Two equities research analysts have rated the stock with a hold recommendation, ten have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $188.45.

A number of equities research analysts have weighed in on the stock. UBS Group started coverage on shares of Chord Energy in a research note on Wednesday, October 16th. They set a “buy” rating and a $168.00 target price for the company. Bank of America raised their target price on Chord Energy from $201.00 to $208.00 and gave the stock a “buy” rating in a research report on Wednesday, August 21st. Royal Bank of Canada reduced their price target on shares of Chord Energy from $185.00 to $180.00 and set an “outperform” rating for the company in a research report on Wednesday, November 20th. Jefferies Financial Group started coverage on shares of Chord Energy in a report on Thursday, September 5th. They issued a “hold” rating and a $160.00 price objective on the stock. Finally, BMO Capital Markets reduced their target price on shares of Chord Energy from $205.00 to $175.00 and set an “outperform” rating for the company in a report on Friday, October 4th.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. Hexagon Capital Partners LLC boosted its holdings in Chord Energy by 462.9% in the third quarter. Hexagon Capital Partners LLC now owns 197 shares of the company’s stock valued at $26,000 after purchasing an additional 162 shares during the last quarter. Stone House Investment Management LLC purchased a new stake in shares of Chord Energy in the third quarter worth about $26,000. UMB Bank n.a. grew its holdings in Chord Energy by 77.7% during the third quarter. UMB Bank n.a. now owns 231 shares of the company’s stock worth $30,000 after acquiring an additional 101 shares during the period. Ashton Thomas Private Wealth LLC purchased a new position in Chord Energy during the second quarter valued at approximately $40,000. Finally, Benjamin F. Edwards & Company Inc. lifted its holdings in Chord Energy by 125.9% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 244 shares of the company’s stock valued at $41,000 after acquiring an additional 136 shares during the period. Institutional investors and hedge funds own 97.76% of the company’s stock.

Chord Energy Stock Performance

Chord Energy stock opened at $117.20 on Monday. Chord Energy has a fifty-two week low of $115.96 and a fifty-two week high of $190.23. The firm’s fifty day moving average price is $129.22 and its 200-day moving average price is $148.62. The stock has a market cap of $7.16 billion, a P/E ratio of 6.04, a price-to-earnings-growth ratio of 4.91 and a beta of 0.96. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.89 and a current ratio of 0.93.

Chord Energy (NASDAQ:CHRD) last released its quarterly earnings data on Wednesday, November 6th. The company reported $3.40 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.63 by ($0.23). The firm had revenue of $1.12 billion during the quarter, compared to analysts’ expectations of $1.26 billion. Chord Energy had a net margin of 19.74% and a return on equity of 12.88%. Chord Energy’s revenue was up 33.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $5.04 EPS. On average, equities research analysts expect that Chord Energy will post 16.5 earnings per share for the current fiscal year.

Chord Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Wednesday, November 27th will be given a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a dividend yield of 4.27%. The ex-dividend date of this dividend is Wednesday, November 27th. Chord Energy’s payout ratio is currently 25.75%.

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.