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

Chord Energy Co. (NASDAQ:CHRD) has been assigned a consensus rating of “Moderate Buy” from the nine analysts that are covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have assigned a buy rating to the company. The average 12 month price target among brokers that have covered the stock in the last year is $191.50.

A number of analysts have recently issued reports on CHRD shares. Truist Financial dropped their price target on Chord Energy from $229.00 to $224.00 and set a “buy” rating for the company in a research report on Friday, April 5th. Piper Sandler lifted their price target on Chord Energy from $219.00 to $230.00 and gave the company an “overweight” rating in a research report on Friday, April 19th. Stifel Nicolaus lifted their price target on Chord Energy from $178.00 to $211.00 and gave the company a “buy” rating in a research report on Tuesday, February 27th. Mizuho lifted their price target on Chord Energy from $189.00 to $195.00 and gave the company a “buy” rating in a research report on Thursday, March 14th. Finally, Bank of America downgraded Chord Energy from a “buy” rating to an “underperform” rating and dropped their target price for the stock from $177.00 to $165.00 in a research report on Friday, January 5th.

Insiders Place Their Bets

In other Chord Energy news, CFO Michael H. Lou sold 3,000 shares of Chord Energy stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $154.15, for a total value of $462,450.00. Following the transaction, the chief financial officer now directly owns 131,209 shares of the company’s stock, valued at approximately $20,225,867.35. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.70% of the company’s stock.

Hedge Funds Weigh In On Chord Energy

A number of large investors have recently bought and sold shares of the stock. New York State Teachers Retirement System increased its stake in Chord Energy by 0.6% in the 1st quarter. New York State Teachers Retirement System now owns 15,792 shares of the company’s stock worth $2,815,000 after purchasing an additional 100 shares during the period. Louisiana State Employees Retirement System increased its stake in shares of Chord Energy by 2.6% during the first quarter. Louisiana State Employees Retirement System now owns 11,900 shares of the company’s stock valued at $2,121,000 after buying an additional 300 shares during the period. Raymond James & Associates increased its stake in shares of Chord Energy by 25.7% during the first quarter. Raymond James & Associates now owns 79,140 shares of the company’s stock valued at $14,106,000 after buying an additional 16,170 shares during the period. United Capital Management of KS Inc. purchased a new position in shares of Chord Energy during the first quarter valued at approximately $3,694,000. Finally, State of Alaska Department of Revenue increased its stake in shares of Chord Energy by 269.6% during the first quarter. State of Alaska Department of Revenue now owns 16,478 shares of the company’s stock valued at $2,936,000 after buying an additional 12,020 shares during the period. 97.76% of the stock is owned by hedge funds and other institutional investors.

Chord Energy Stock Up 0.5 %

Shares of NASDAQ CHRD opened at $185.58 on Friday. Chord Energy has a 52 week low of $133.34 and a 52 week high of $190.23. The business has a 50-day simple moving average of $172.98 and a two-hundred day simple moving average of $165.46. The company has a quick ratio of 1.16, a current ratio of 1.22 and a debt-to-equity ratio of 0.08. The company has a market cap of $7.71 billion, a P/E ratio of 7.89 and a beta of 1.06.

Chord Energy (NASDAQ:CHRD) last issued its quarterly earnings results on Wednesday, February 21st. The company reported $5.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.04 by $0.21. The firm had revenue of $964.69 million during the quarter, compared to the consensus estimate of $891.67 million. Chord Energy had a return on equity of 16.35% and a net margin of 26.27%. Research analysts anticipate that Chord Energy will post 22.03 earnings per share for the current fiscal year.

Chord Energy Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 19th. Shareholders of record on Tuesday, March 5th were paid a $3.25 dividend. This is a boost from Chord Energy’s previous quarterly dividend of $1.25. This represents a $13.00 dividend on an annualized basis and a yield of 7.01%. The ex-dividend date of this dividend was Monday, March 4th. Chord Energy’s payout ratio is 21.25%.

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.