Chord Energy (NASDAQ:CHRD) Receives “Neutral” Rating from Bank of America

Bank of America restated their neutral rating on shares of Chord Energy (NASDAQ:CHRD) in a report published on Monday morning, MarketBeat Ratings reports. They currently have a $138.00 price target on the stock, down from their prior price target of $208.00.

Other equities analysts have also issued reports about the company. Wolfe Research upgraded Chord Energy from a “peer perform” rating to an “outperform” rating and set a $155.00 target price for the company in a research report on Friday, January 3rd. Morgan Stanley initiated coverage on Chord Energy in a research report on Friday. They set an “equal weight” rating and a $158.00 target price for the company. Royal Bank of Canada dropped their target price on Chord Energy from $185.00 to $180.00 and set an “outperform” rating for the company in a research report on Wednesday, November 20th. Wells Fargo & Company raised their target price on Chord Energy from $175.00 to $176.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 17th. Finally, UBS Group dropped their price target on Chord Energy from $168.00 to $161.00 and set a “buy” rating on the stock in a report on Monday, December 9th. Three analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $173.23.

Chord Energy Stock Up 1.6 %

CHRD opened at $125.76 on Monday. Chord Energy has a 12 month low of $109.59 and a 12 month high of $190.23. The business has a 50-day moving average of $122.59 and a two-hundred day moving average of $138.94. The stock has a market capitalization of $7.69 billion, a price-to-earnings ratio of 6.48, a price-to-earnings-growth ratio of 4.79 and a beta of 0.99. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.93 and a quick ratio of 0.89.

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 the consensus estimate of $3.63 by ($0.23). The business had revenue of $1.12 billion for the quarter, compared to analysts’ expectations of $1.26 billion. Chord Energy had a return on equity of 12.88% and a net margin of 19.74%. Chord Energy’s quarterly revenue was up 33.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $5.04 earnings per share. On average, research analysts expect that Chord Energy will post 16.5 earnings per share for the current year.

Chord Energy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Wednesday, November 27th were paid a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a yield of 3.98%. The ex-dividend date was Wednesday, November 27th. Chord Energy’s payout ratio is 25.75%.

Insider Buying and Selling

In other news, CAO Shannon Browning Kinney sold 1,000 shares of the company’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $116.35, for a total value of $116,350.00. Following the sale, the chief accounting officer now owns 19,488 shares of the company’s stock, valued at approximately $2,267,428.80. This represents a 4.88 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.70% of the company’s stock.

Institutional Trading of Chord Energy

Hedge funds have recently modified their holdings of the company. Pacer Advisors Inc. lifted its holdings in shares of Chord Energy by 8,762.1% during the third quarter. Pacer Advisors Inc. now owns 1,245,034 shares of the company’s stock worth $162,141,000 after buying an additional 1,230,985 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in Chord Energy by 72.0% in the second quarter. Dimensional Fund Advisors LP now owns 1,771,780 shares of the company’s stock valued at $297,090,000 after buying an additional 741,705 shares during the period. Victory Capital Management Inc. lifted its stake in Chord Energy by 41.3% in the third quarter. Victory Capital Management Inc. now owns 2,245,435 shares of the company’s stock valued at $292,423,000 after buying an additional 656,374 shares during the period. Point72 Asset Management L.P. raised its position in shares of Chord Energy by 143.8% during the third quarter. Point72 Asset Management L.P. now owns 880,787 shares of the company’s stock worth $114,705,000 after purchasing an additional 519,547 shares during the period. Finally, Millennium Management LLC raised its position in Chord Energy by 226.5% in the 2nd quarter. Millennium Management LLC now owns 696,488 shares of the company’s stock valued at $116,787,000 after buying an additional 483,144 shares during the last quarter. 97.76% of the stock is currently owned by institutional investors and hedge funds.

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.