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

Shares of Chord Energy Co. (NASDAQ:CHRD) have been given a consensus recommendation of “Moderate Buy” by the thirteen brokerages that are presently covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell rating, one has given a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $153.77.

A number of research analysts have weighed in on CHRD shares. Williams Trading set a $155.00 target price on Chord Energy in a report on Wednesday, March 5th. Bank of America reduced their target price on Chord Energy from $114.00 to $112.00 and set a “buy” rating for the company in a report on Friday, May 23rd. Piper Sandler reduced their target price on Chord Energy from $184.00 to $183.00 and set an “overweight” rating for the company in a report on Tuesday, April 22nd. Wall Street Zen downgraded Chord Energy from a “hold” rating to a “sell” rating in a research report on Friday. Finally, Mizuho dropped their price target on Chord Energy from $154.00 to $150.00 and set an “outperform” rating for the company in a research report on Tuesday, May 13th.

Chord Energy Stock Down 1.1%

CHRD stock opened at $90.04 on Monday. 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 firm has a market capitalization of $5.20 billion, a PE ratio of 4.64, a PEG ratio of 5.83 and a beta of 0.99. Chord Energy has a twelve month low of $79.83 and a twelve month high of $188.02. The stock has a 50-day simple moving average of $94.52 and a two-hundred day simple moving average of $108.80.

Chord Energy (NASDAQ:CHRD) last posted its earnings results on Tuesday, May 6th. The company reported $4.04 earnings per share for the quarter, beating analysts’ consensus estimates of $3.60 by $0.44. The business had revenue of $1.22 billion during the quarter, compared to analyst estimates of $1.07 billion. Chord Energy had a return on equity of 12.88% and a net margin of 19.74%. The company’s quarterly revenue was up 12.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $5.10 EPS. On average, equities analysts predict that Chord Energy will post 15.59 EPS for the current fiscal year.

Chord Energy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 9th. Investors of record on Wednesday, May 21st will be given a $1.30 dividend. The ex-dividend date is Wednesday, May 21st. This represents a $5.20 dividend on an annualized basis and a yield of 5.78%. Chord Energy’s payout ratio is 34.78%.

Insider Buying and Selling

In other Chord Energy news, EVP Shannon Browning Kinney sold 3,091 shares of Chord Energy stock in a transaction that occurred on Thursday, May 8th. The stock was sold at an average price of $94.10, for a total value of $290,863.10. Following the transaction, the executive vice president now directly owns 21,277 shares of the company’s stock, valued at $2,002,165.70. The trade was a 12.68% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.70% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Chord Energy

Large investors have recently bought and sold shares of the stock. Altshuler Shaham Ltd purchased a new position in Chord Energy in the 4th quarter worth approximately $25,000. Twin Tree Management LP purchased a new stake in Chord Energy in the fourth quarter worth $33,000. Larson Financial Group LLC grew its stake in Chord Energy by 238.3% in the fourth quarter. Larson Financial Group LLC now owns 318 shares of the company’s stock worth $37,000 after purchasing an additional 224 shares during the period. Hexagon Capital Partners LLC grew its stake in Chord Energy by 321.7% in the first quarter. Hexagon Capital Partners LLC now owns 447 shares of the company’s stock worth $50,000 after purchasing an additional 341 shares during the period. Finally, R Squared Ltd purchased a new stake in Chord Energy in the fourth quarter worth $51,000. 97.76% of the stock is owned by hedge funds and other institutional investors.

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.