Chord Energy Corporation (NASDAQ:CHRD) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Shares of Chord Energy Corporation (NASDAQ:CHRD) have been given an average rating of “Moderate Buy” by the fourteen research firms that are currently covering the stock, MarketBeat reports. Three research analysts have rated the stock with a hold rating and eleven have issued a buy rating on the company. The average 12-month price objective among brokers that have covered the stock in the last year is $137.6923.

A number of analysts recently issued reports on the company. William Blair initiated coverage on Chord Energy in a report on Friday. They set an “outperform” rating on the stock. UBS Group lowered their price target on shares of Chord Energy from $130.00 to $123.00 and set a “buy” rating on the stock in a report on Wednesday, November 12th. Bank of America raised their price objective on shares of Chord Energy from $112.00 to $123.00 and gave the company a “buy” rating in a research report on Wednesday, September 17th. Wall Street Zen lowered shares of Chord Energy from a “hold” rating to a “sell” rating in a report on Saturday, November 1st. Finally, Royal Bank Of Canada reiterated an “outperform” rating and issued a $130.00 price objective on shares of Chord Energy in a research report on Monday, October 6th.

Chord Energy Stock Up 1.1%

CHRD opened at $91.58 on Monday. Chord Energy has a 12 month low of $79.83 and a 12 month high of $134.54. The company has a market cap of $5.21 billion, a PE ratio of 35.22 and a beta of 0.92. The company has a current ratio of 1.35, a quick ratio of 1.28 and a debt-to-equity ratio of 0.18. The company has a 50 day moving average of $94.45 and a 200 day moving average of $99.36.

Chord Energy (NASDAQ:CHRD) last posted its earnings results on Tuesday, November 4th. The company reported $2.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.24 by $0.11. Chord Energy had a return on equity of 8.27% and a net margin of 3.31%.The firm had revenue of $1.31 billion for the quarter, compared to the consensus estimate of $1.02 billion. During the same quarter in the prior year, the business posted $3.40 earnings per share. The business’s quarterly revenue was up 17.0% on a year-over-year basis. On average, sell-side analysts expect that Chord Energy will post 15.59 EPS for the current year.

Chord Energy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 5th. Shareholders of record on Wednesday, November 19th will be paid a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a yield of 5.7%. The ex-dividend date is Wednesday, November 19th. Chord Energy’s dividend payout ratio is currently 200.00%.

Insider Buying and Selling at Chord Energy

In other Chord Energy news, Director Samantha Holroyd purchased 1,250 shares of the company’s stock in a transaction dated Friday, November 7th. The stock was purchased at an average price of $85.50 per share, for a total transaction of $106,875.00. Following the transaction, the director owned 17,706 shares in the company, valued at $1,513,863. The trade was a 7.60% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.70% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Bayforest Capital Ltd purchased a new position in Chord Energy in the 2nd quarter worth approximately $28,000. WealthCollab LLC raised its position in shares of Chord Energy by 90.6% during the 2nd quarter. WealthCollab LLC now owns 305 shares of the company’s stock valued at $30,000 after buying an additional 145 shares in the last quarter. Quent Capital LLC bought a new stake in shares of Chord Energy during the 3rd quarter worth $32,000. Mitsubishi UFJ Asset Management Co. Ltd. grew its position in Chord Energy by 91.2% in the second quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 411 shares of the company’s stock worth $40,000 after acquiring an additional 196 shares in the last quarter. Finally, Pilgrim Partners Asia Pte Ltd purchased a new position in Chord Energy in the third quarter worth $46,000. 97.76% of the stock is currently owned by institutional investors.

Chord Energy Company Profile

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.