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

Chord Energy Co. (NASDAQ:CHRD) has received a consensus recommendation of “Moderate Buy” from the fourteen brokerages that are currently covering the company, MarketBeat reports. Three 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 12-month price objective among analysts that have issued ratings on the stock in the last year is $173.08.

Several equities research analysts have issued reports on the stock. Royal Bank of Canada lowered their price target on shares of Chord Energy from $185.00 to $180.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 20th. Piper Sandler cut their price target on shares of Chord Energy from $194.00 to $193.00 and set an “overweight” rating for the company in a report on Wednesday, January 15th. UBS Group cut their price target on shares of Chord Energy from $168.00 to $161.00 and set a “buy” rating on the stock in a report on Monday, December 9th. Truist Financial increased their price target on Chord Energy from $185.00 to $186.00 and gave the stock a “buy” rating in a report on Monday, January 13th. Finally, Mizuho cut their target price on Chord Energy from $192.00 to $178.00 and set an “outperform” rating on the stock in a report on Monday, December 16th.

Insider Transactions at Chord Energy

In related news, CAO Shannon Browning Kinney sold 1,000 shares of the stock in a transaction on Monday, December 16th. The stock was sold at an average price of $116.35, for a total transaction of $116,350.00. Following the sale, the chief accounting officer now directly owns 19,488 shares of the company’s stock, valued at $2,267,428.80. This trade represents a 4.88 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 0.70% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of CHRD. Ascent Group LLC raised its stake in shares of Chord Energy by 11.1% in the fourth quarter. Ascent Group LLC now owns 17,300 shares of the company’s stock worth $2,023,000 after buying an additional 1,731 shares during the period. GF Fund Management CO. LTD. bought a new stake in Chord Energy during the 4th quarter valued at approximately $2,197,000. GTS Securities LLC bought a new stake in Chord Energy during the 4th quarter valued at approximately $1,183,000. CSS LLC IL raised its stake in Chord Energy by 30.9% during the 4th quarter. CSS LLC IL now owns 21,157 shares of the company’s stock valued at $2,474,000 after purchasing an additional 4,994 shares during the period. Finally, Worldquant Millennium Advisors LLC bought a new stake in Chord Energy in the 4th quarter worth approximately $11,534,000. 97.76% of the stock is owned by hedge funds and other institutional investors.

Chord Energy Price Performance

Shares of CHRD stock opened at $111.68 on Friday. The firm’s 50 day moving average price is $116.50 and its two-hundred day moving average price is $128.18. The stock has a market cap of $6.83 billion, a PE ratio of 5.75, a PEG ratio of 5.77 and a beta of 0.98. Chord Energy has a 52-week low of $107.24 and a 52-week high of $190.23. 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 Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Wednesday, November 27th were issued a $1.25 dividend. The ex-dividend date of this dividend was Wednesday, November 27th. This represents a $5.00 dividend on an annualized basis and a yield of 4.48%. Chord Energy’s dividend payout ratio (DPR) is 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.