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

Chord Energy Co. (NASDAQ:CHRD) has been given an average rating of “Buy” by the thirteen analysts that are currently covering the company, MarketBeat reports. One analyst has rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating on the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $180.25.

A number of research analysts recently weighed in on the stock. Wolfe Research upgraded shares of Chord Energy from a “peer perform” rating to an “outperform” rating and set a $155.00 price objective on the stock in a research report on Friday, January 3rd. Siebert Williams Shank upgraded Chord Energy to a “strong-buy” rating in a research note on Tuesday, October 15th. Wells Fargo & Company raised their price objective on shares of Chord Energy from $175.00 to $176.00 and gave the stock an “overweight” rating in a report on Tuesday, December 17th. Truist Financial reduced their target price on shares of Chord Energy from $223.00 to $185.00 and set a “buy” rating for the company in a report on Monday, September 30th. Finally, UBS Group dropped their price target on shares of Chord Energy from $168.00 to $161.00 and set a “buy” rating on the stock in a research note on Monday, December 9th.

Insider Activity at Chord Energy

In other Chord Energy news, CAO Shannon Browning Kinney sold 1,000 shares of Chord Energy stock in a transaction on Monday, December 9th. The shares were 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 approximately $2,484,579.76. The trade was a 4.65 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 0.70% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in CHRD. Victory Capital Management Inc. boosted its stake in Chord Energy by 41.3% during 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 last quarter. Geode Capital Management LLC grew its holdings in shares of Chord Energy by 3.0% in the third quarter. Geode Capital Management LLC now owns 1,162,442 shares of the company’s stock valued at $151,077,000 after purchasing an additional 34,156 shares in the last quarter. Bank of Montreal Can increased its position in Chord Energy by 956.5% in the second quarter. Bank of Montreal Can now owns 58,359 shares of the company’s stock worth $9,873,000 after purchasing an additional 52,835 shares during the last quarter. Foundry Partners LLC raised its stake in Chord Energy by 22.7% during the third quarter. Foundry Partners LLC now owns 52,009 shares of the company’s stock valued at $6,773,000 after purchasing an additional 9,613 shares in the last quarter. Finally, Caxton Associates LP bought a new position in Chord Energy during the second quarter valued at $2,515,000. Hedge funds and other institutional investors own 97.76% of the company’s stock.

Chord Energy Stock Performance

Shares of CHRD opened at $122.60 on Friday. The company has a market cap of $7.49 billion, a price-to-earnings ratio of 6.31, a P/E/G ratio of 4.79 and a beta of 0.99. The business’s fifty day simple moving average is $122.64 and its two-hundred day simple moving average is $139.77. 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.

Chord Energy (NASDAQ:CHRD) last released its quarterly earnings data on Wednesday, November 6th. The company reported $3.40 EPS for the quarter, missing the consensus estimate of $3.63 by ($0.23). The business had revenue of $1.12 billion during the quarter, compared to the consensus estimate 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 previous year, the business posted $5.04 earnings per share. Research analysts anticipate that Chord Energy will post 16.5 earnings per share for the current fiscal year.

Chord Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 12th. Stockholders 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 4.08%. The ex-dividend date of this dividend was Wednesday, November 27th. 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.