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

Chord Energy Co. (NASDAQ:CHRDGet Free Report) has been assigned an average recommendation of “Moderate Buy” from the nine analysts that are currently covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, one has issued a hold rating and seven have issued a buy rating on the company. The average 1-year price target among brokerages that have covered the stock in the last year is $190.90.

A number of research analysts have commented on the company. Bank of America lowered Chord Energy from a “buy” rating to an “underperform” rating and decreased their price objective for the company from $177.00 to $165.00 in a research report on Friday, January 5th. Piper Sandler increased their price target on Chord Energy from $218.00 to $219.00 and gave the company an “overweight” rating in a research note on Thursday, March 7th. Truist Financial increased their price target on Chord Energy from $224.00 to $229.00 and gave the company a “buy” rating in a research note on Thursday, February 22nd. Stifel Nicolaus increased their price target on Chord Energy from $178.00 to $211.00 and gave the company a “buy” rating in a research note on Tuesday, February 27th. Finally, Mizuho increased their price target on Chord Energy from $189.00 to $195.00 and gave the company a “buy” rating in a research note on Thursday, March 14th.

Check Out Our Latest Analysis on Chord Energy

Chord Energy Stock Up 1.1 %

NASDAQ CHRD opened at $179.77 on Wednesday. The firm has a market cap of $7.47 billion, a PE ratio of 7.64 and a beta of 1.06. Chord Energy has a one year low of $133.34 and a one year high of $180.50. The stock’s 50 day simple moving average is $162.89 and its 200 day simple moving average is $162.34. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.22 and a quick ratio of 1.16.

Chord Energy (NASDAQ:CHRDGet Free Report) last announced its quarterly earnings data on Wednesday, February 21st. The company reported $5.25 EPS for the quarter, beating analysts’ consensus estimates of $5.04 by $0.21. The firm had revenue of $964.69 million for the quarter, compared to analyst estimates of $891.67 million. Chord Energy had a return on equity of 16.35% and a net margin of 26.27%. As a group, sell-side analysts forecast that Chord Energy will post 20.25 earnings per share for the current fiscal year.

Chord Energy Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 19th. Shareholders of record on Tuesday, March 5th were issued a dividend of $3.25 per share. This represents a $13.00 dividend on an annualized basis and a yield of 7.23%. The ex-dividend date was Monday, March 4th. This is a boost from Chord Energy’s previous quarterly dividend of $1.25. Chord Energy’s dividend payout ratio is 21.25%.

Insiders Place Their Bets

In other Chord Energy news, CFO Michael H. Lou sold 6,000 shares of the stock in a transaction dated Thursday, January 4th. The stock was sold at an average price of $169.80, for a total transaction of $1,018,800.00. Following the completion of the transaction, the chief financial officer now owns 170,835 shares in the company, valued at approximately $29,007,783. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, CFO Michael H. Lou sold 3,000 shares of Chord Energy stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $165.00, for a total transaction of $495,000.00. Following the completion of the transaction, the chief financial officer now owns 128,209 shares in the company, valued at $21,154,485. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Michael H. Lou sold 6,000 shares of Chord Energy stock in a transaction dated Thursday, January 4th. The stock was sold at an average price of $169.80, for a total value of $1,018,800.00. Following the transaction, the chief financial officer now owns 170,835 shares of the company’s stock, valued at approximately $29,007,783. The disclosure for this sale can be found here. In the last 90 days, insiders sold 12,000 shares of company stock worth $1,976,250. Corporate insiders own 0.70% of the company’s stock.

Institutional Investors Weigh In On Chord Energy

Several hedge funds have recently bought and sold shares of the stock. Commonwealth Equity Services LLC lifted its position in Chord Energy by 0.6% during the third quarter. Commonwealth Equity Services LLC now owns 12,246 shares of the company’s stock worth $1,985,000 after acquiring an additional 67 shares during the last quarter. Fifth Third Bancorp lifted its position in Chord Energy by 15.4% during the third quarter. Fifth Third Bancorp now owns 526 shares of the company’s stock worth $85,000 after acquiring an additional 70 shares during the last quarter. State Board of Administration of Florida Retirement System lifted its position in Chord Energy by 0.6% during the third quarter. State Board of Administration of Florida Retirement System now owns 11,956 shares of the company’s stock worth $1,938,000 after acquiring an additional 70 shares during the last quarter. Xponance Inc. lifted its position in Chord Energy by 1.3% during the fourth quarter. Xponance Inc. now owns 6,070 shares of the company’s stock worth $1,009,000 after acquiring an additional 77 shares during the last quarter. Finally, Contravisory Investment Management Inc. lifted its position in Chord Energy by 48.9% during the fourth quarter. Contravisory Investment Management Inc. now owns 259 shares of the company’s stock worth $43,000 after acquiring an additional 85 shares during the last quarter. 97.76% of the stock is currently owned by institutional investors and hedge funds.

About Chord Energy

(Get Free Report

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.

See Also

Analyst Recommendations for Chord Energy (NASDAQ:CHRD)

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