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

Shares of Chord Energy Co. (NASDAQ:CHRD) have earned an average recommendation of “Moderate Buy” from the thirteen analysts that are covering the firm, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $182.55.

Several equities analysts have weighed in on the company. Wells Fargo & Company upped their price objective on Chord Energy from $175.00 to $176.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 17th. UBS Group lowered their price objective on Chord Energy from $168.00 to $161.00 and set a “buy” rating for the company in a research report on Monday, December 9th. Siebert Williams Shank upgraded shares of Chord Energy to a “strong-buy” rating in a research note on Tuesday, October 15th. Truist Financial decreased their price target on shares of Chord Energy from $223.00 to $185.00 and set a “buy” rating for the company in a research note on Monday, September 30th. Finally, Mizuho lowered their price target on shares of Chord Energy from $192.00 to $178.00 and set an “outperform” rating for the company in a report on Monday, December 16th.

Insider Buying and Selling at Chord Energy

In other news, CAO Shannon Browning Kinney sold 1,000 shares of the company’s stock in a transaction on Monday, December 9th. The stock was sold at an average price of $121.27, for a total value of $121,270.00. Following the sale, the chief accounting officer now directly owns 20,488 shares in the company, valued at $2,484,579.76. This represents a 4.65 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.70% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Chord Energy

Institutional investors have recently added to or reduced their stakes in the business. Rhumbline Advisers raised its holdings in shares of Chord Energy by 24.1% in the 2nd quarter. Rhumbline Advisers now owns 169,663 shares of the company’s stock worth $28,449,000 after purchasing an additional 32,995 shares during the period. Oregon Public Employees Retirement Fund raised its stake in shares of Chord Energy by 26.5% in the 2nd quarter. Oregon Public Employees Retirement Fund now owns 12,896 shares of the company’s stock valued at $2,162,000 after acquiring an additional 2,700 shares during the period. TD Asset Management Inc lifted its holdings in shares of Chord Energy by 101.4% during the 2nd quarter. TD Asset Management Inc now owns 10,070 shares of the company’s stock valued at $1,689,000 after acquiring an additional 5,070 shares in the last quarter. Foster & Motley Inc. boosted its position in Chord Energy by 80.4% during the 2nd quarter. Foster & Motley Inc. now owns 4,249 shares of the company’s stock worth $712,000 after purchasing an additional 1,894 shares during the period. Finally, National Bank of Canada FI increased its holdings in Chord Energy by 5,164.0% in the 2nd quarter. National Bank of Canada FI now owns 7,896 shares of the company’s stock valued at $1,333,000 after purchasing an additional 7,746 shares in the last quarter. 97.76% of the stock is currently owned by institutional investors and hedge funds.

Chord Energy Price Performance

NASDAQ:CHRD opened at $118.89 on Friday. The stock has a 50 day moving average of $123.02 and a two-hundred day moving average of $141.15. Chord Energy has a 12 month low of $109.59 and a 12 month high of $190.23. The company has a current ratio of 0.93, a quick ratio of 0.89 and a debt-to-equity ratio of 0.10. The firm has a market cap of $7.27 billion, a P/E ratio of 6.12, a price-to-earnings-growth ratio of 4.79 and a beta of 0.96.

Chord Energy (NASDAQ:CHRD) last announced 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). Chord Energy had a net margin of 19.74% and a return on equity of 12.88%. The firm had revenue of $1.12 billion during the quarter, compared to analysts’ expectations of $1.26 billion. During the same period in the prior year, the company posted $5.04 EPS. The company’s revenue for the quarter was up 33.4% compared to the same quarter last year. On average, 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 declared a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Wednesday, November 27th were issued a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a dividend yield of 4.21%. The ex-dividend date was 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.