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

Shares of Chord Energy Co. (NASDAQ:CHRD) have received a consensus recommendation of “Moderate Buy” from the nine ratings firms that are covering the company, MarketBeat reports. One investment analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $184.44.

CHRD has been the topic of several analyst reports. TD Cowen lowered shares of Chord Energy from an “outperform” rating to a “market perform” rating and set a $151.00 price target on the stock. in a research note on Wednesday, July 19th. BMO Capital Markets initiated coverage on shares of Chord Energy in a research note on Thursday, August 31st. They issued an “outperform” rating and a $185.00 price target on the stock. Royal Bank of Canada restated an “outperform” rating and issued a $180.00 price target on shares of Chord Energy in a research note on Wednesday, August 23rd. Piper Sandler lowered their price objective on shares of Chord Energy from $204.00 to $202.00 in a research note on Tuesday, June 13th. Finally, Stifel Nicolaus raised their price objective on shares of Chord Energy from $177.00 to $178.00 and gave the company a “buy” rating in a research note on Friday, August 18th.

Insider Buying and Selling

In related news, COO Charles J. Rimer sold 7,259 shares of the firm’s stock in a transaction that occurred on Wednesday, July 12th. The shares were sold at an average price of $160.03, for a total transaction of $1,161,657.77. Following the completion of the sale, the chief operating officer now directly owns 97,514 shares in the company, valued at $15,605,165.42. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, COO Charles J. Rimer sold 7,259 shares of the firm’s stock in a transaction that occurred on Wednesday, July 12th. The shares were sold at an average price of $160.03, for a total transaction of $1,161,657.77. Following the completion of the sale, the chief operating officer now directly owns 97,514 shares in the company, valued at $15,605,165.42. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Lynn A. Peterson sold 3,000 shares of the firm’s stock in a transaction that occurred on Monday, July 17th. The stock was sold at an average price of $146.29, for a total transaction of $438,870.00. Following the sale, the director now owns 229,098 shares of the company’s stock, valued at $33,514,746.42. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 24,132 shares of company stock worth $3,829,860. Corporate insiders own 0.52% of the company’s stock.

Hedge Funds Weigh In On Chord Energy

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CHRD. BlackRock Inc. boosted its stake in Chord Energy by 50.4% in the 1st quarter. BlackRock Inc. now owns 4,888,058 shares of the company’s stock worth $657,933,000 after purchasing an additional 1,638,278 shares during the period. First Trust Advisors LP boosted its stake in Chord Energy by 514.8% in the 1st quarter. First Trust Advisors LP now owns 1,477,124 shares of the company’s stock worth $198,821,000 after purchasing an additional 1,236,882 shares during the period. JPMorgan Chase & Co. acquired a new position in Chord Energy in the 4th quarter worth approximately $166,849,000. Fuller & Thaler Asset Management Inc. acquired a new position in Chord Energy in the 4th quarter worth approximately $143,583,000. Finally, Dimensional Fund Advisors LP acquired a new position in Chord Energy in the 4th quarter worth approximately $116,158,000. Institutional investors and hedge funds own 97.76% of the company’s stock.

Chord Energy Price Performance

CHRD opened at $158.23 on Friday. The firm has a market cap of $6.57 billion, a price-to-earnings ratio of 3.87, a price-to-earnings-growth ratio of 0.44 and a beta of 1.28. Chord Energy has a fifty-two week low of $117.05 and a fifty-two week high of $167.81. The company’s 50-day moving average price is $156.90 and its 200 day moving average price is $147.47. The company has a quick ratio of 0.90, a current ratio of 0.96 and a debt-to-equity ratio of 0.08.

Chord Energy (NASDAQ:CHRD) last announced its quarterly earnings results on Wednesday, August 2nd. The company reported $3.65 EPS for the quarter, missing the consensus estimate of $3.96 by ($0.31). Chord Energy had a net margin of 44.17% and a return on equity of 19.07%. The firm had revenue of $695.40 million during the quarter, compared to analyst estimates of $677.85 million. During the same quarter in the previous year, the business posted $7.30 EPS. Chord Energy’s revenue for the quarter was up 29.1% compared to the same quarter last year. As a group, sell-side analysts expect that Chord Energy will post 18.91 earnings per share for the current year.

Chord Energy Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 29th. Investors of record on Tuesday, August 15th were issued a dividend of $1.36 per share. This represents a $5.44 dividend on an annualized basis and a yield of 3.44%. This is a boost from Chord Energy’s previous quarterly dividend of $1.25. The ex-dividend date was Monday, August 14th. Chord Energy’s dividend payout ratio (DPR) is presently 12.22%.

Chord Energy Company Profile

Chord Energy Corporation operates as an independent exploration and production company. It acquires, exploits, develops, and explores for crude oil, natural gas, and natural gas liquids in the Williston Basin. Chord Energy Corporation was founded in 2007 and is headquartered in Houston, Texas.