Chord Energy Co. (NASDAQ:CHRD) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Chord Energy Co. (NASDAQ:CHRD) has earned an average rating of “Moderate Buy” from the thirteen analysts that are presently covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, eight have given a buy rating and one has issued a strong buy rating on the company. The average 1 year price objective among brokers that have covered the stock in the last year is $164.62.

A number of equities analysts recently issued reports on the stock. Citigroup cut shares of Chord Energy to a “reduce” rating in a research note on Wednesday, March 5th. Morgan Stanley assumed coverage on shares of Chord Energy in a research note on Friday, January 10th. They issued an “equal weight” rating and a $158.00 price target on the stock. Piper Sandler dropped their price target on shares of Chord Energy from $193.00 to $184.00 and set an “overweight” rating on the stock in a research note on Thursday, March 6th. Wolfe Research raised 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. Finally, Royal Bank of Canada decreased 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.

Hedge Funds Weigh In On Chord Energy

Hedge funds have recently modified their holdings of the business. FMR LLC boosted its holdings in Chord Energy by 11.5% during the 4th quarter. FMR LLC now owns 3,814,384 shares of the company’s stock valued at $445,978,000 after acquiring an additional 394,372 shares during the period. Victory Capital Management Inc. boosted its holdings in Chord Energy by 27.6% during the 4th quarter. Victory Capital Management Inc. now owns 2,864,456 shares of the company’s stock valued at $334,912,000 after acquiring an additional 619,021 shares during the period. State Street Corp boosted its holdings in Chord Energy by 0.9% during the 3rd quarter. State Street Corp now owns 2,485,777 shares of the company’s stock valued at $323,723,000 after acquiring an additional 22,753 shares during the period. Boston Partners boosted its holdings in Chord Energy by 5.6% during the 4th quarter. Boston Partners now owns 2,186,483 shares of the company’s stock valued at $255,684,000 after acquiring an additional 115,215 shares during the period. Finally, Pacer Advisors Inc. boosted its holdings in Chord Energy by 50.4% during the 4th quarter. Pacer Advisors Inc. now owns 1,872,156 shares of the company’s stock valued at $218,892,000 after acquiring an additional 627,122 shares during the period. 97.76% of the stock is currently owned by hedge funds and other institutional investors.

Chord Energy Stock Performance

Shares of CHRD stock opened at $108.72 on Wednesday. Chord Energy has a 12 month low of $99.40 and a 12 month high of $190.23. The stock has a market cap of $6.48 billion, a PE ratio of 5.60, a price-to-earnings-growth ratio of 5.83 and a beta of 0.98. 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 company’s fifty day moving average price is $113.67 and its 200-day moving average price is $122.59.

Chord Energy Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 26th. Shareholders of record on Tuesday, March 11th will be issued a $1.30 dividend. This is a boost from Chord Energy’s previous quarterly dividend of $1.25. This represents a $5.20 annualized dividend and a yield of 4.78%. The ex-dividend date is Tuesday, March 11th. Chord Energy’s dividend payout ratio is presently 32.62%.

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.