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

Chord Energy Co. (NASDAQ:CHRD) has been assigned a consensus recommendation of “Moderate Buy” from the fourteen research firms that are covering the stock, Marketbeat Ratings reports. Three investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating on the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $173.08.

CHRD has been the subject of several research reports. Siebert Williams Shank raised shares of Chord Energy to a “strong-buy” rating in a research note on Tuesday, October 15th. Morgan Stanley initiated 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 objective for the company. Mizuho dropped their price objective on shares of Chord Energy from $192.00 to $178.00 and set an “outperform” rating for the company in a research note on Monday, December 16th. Royal Bank of Canada dropped their price objective on shares of Chord Energy from $185.00 to $180.00 and set an “outperform” rating for the company in a research note on Wednesday, November 20th. Finally, BMO Capital Markets dropped their price objective on shares of Chord Energy from $205.00 to $175.00 and set an “outperform” rating for the company in a research note on Friday, October 4th.

Insider Buying and Selling at Chord Energy

In related news, CAO Shannon Browning Kinney sold 1,000 shares of the firm’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $116.35, for a total transaction of $116,350.00. Following the transaction, 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 document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 0.70% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. Hexagon Capital Partners LLC increased its holdings in Chord Energy by 462.9% during the third quarter. Hexagon Capital Partners LLC now owns 197 shares of the company’s stock worth $26,000 after buying an additional 162 shares during the last quarter. Stone House Investment Management LLC purchased a new stake in Chord Energy during the third quarter worth about $26,000. Brooklyn Investment Group purchased a new stake in Chord Energy during the fourth quarter worth about $29,000. UMB Bank n.a. increased 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 buying an additional 101 shares during the last quarter. Finally, Spartan Fund Management Inc. purchased a new stake in Chord Energy during the third quarter worth about $34,000. 97.76% of the stock is owned by institutional investors.

Chord Energy Stock Performance

NASDAQ CHRD opened at $117.26 on Tuesday. The company has a quick ratio of 0.89, a current ratio of 0.93 and a debt-to-equity ratio of 0.10. The company has a market capitalization of $7.17 billion, a P/E ratio of 6.04, a P/E/G ratio of 6.35 and a beta of 0.99. Chord Energy has a 12-month low of $109.59 and a 12-month high of $190.23. The firm has a 50-day moving average price of $121.27 and a two-hundred day moving average price of $135.36.

Chord Energy (NASDAQ:CHRD) last issued its quarterly earnings results on Wednesday, November 6th. The company reported $3.40 earnings per share for the quarter, missing analysts’ consensus estimates of $3.63 by ($0.23). Chord Energy had a return on equity of 12.88% and a net margin of 19.74%. The firm had revenue of $1.12 billion for the quarter, compared to the consensus estimate of $1.26 billion. During the same period last year, the company posted $5.04 EPS. The business’s revenue was up 33.4% on a year-over-year basis. Analysts anticipate that Chord Energy will post 15.59 earnings per share for the current year.

Chord Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Wednesday, November 27th were paid a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a dividend yield of 4.26%. The ex-dividend date of this dividend was Wednesday, November 27th. Chord Energy’s dividend payout ratio (DPR) is 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.