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

Shares of Chord Energy Corporation (NASDAQ:CHRD) have been given a consensus recommendation of “Moderate Buy” by the thirteen research firms that are presently covering the company, Marketbeat.com reports. Four equities research analysts have rated the stock with a hold recommendation and nine have issued a buy recommendation on the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $131.9091.

A number of analysts have commented on the company. Morgan Stanley set a $123.00 target price on Chord Energy in a research report on Thursday, November 20th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Chord Energy in a research report on Wednesday, October 8th. Wells Fargo & Company raised their target price on shares of Chord Energy from $108.00 to $113.00 and gave the company an “overweight” rating in a report on Friday, November 14th. Scotiabank assumed coverage on shares of Chord Energy in a report on Friday, September 19th. They issued a “sector perform” rating and a $120.00 price target on the stock. Finally, Roth Capital initiated coverage on shares of Chord Energy in a research report on Monday, October 13th. They issued a “buy” rating and a $130.00 price target on the stock.

Chord Energy Stock Down 1.2%

Shares of NASDAQ:CHRD opened at $91.00 on Tuesday. Chord Energy has a fifty-two week low of $79.83 and a fifty-two week high of $129.32. The company has a quick ratio of 1.28, a current ratio of 1.35 and a debt-to-equity ratio of 0.18. The firm’s 50-day simple moving average is $92.27 and its 200-day simple moving average is $98.50. The company has a market cap of $5.18 billion, a price-to-earnings ratio of 35.00 and a beta of 0.92.

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

Chord Energy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 5th. Shareholders of record on Wednesday, November 19th were given a dividend of $1.30 per share. The ex-dividend date of this dividend was Wednesday, November 19th. This represents a $5.20 annualized dividend and a yield of 5.7%. Chord Energy’s dividend payout ratio (DPR) is presently 200.00%.

Insider Buying and Selling at Chord Energy

In related news, Director Samantha Holroyd acquired 1,250 shares of Chord Energy stock in a transaction dated Friday, November 7th. The shares were acquired at an average cost of $85.50 per share, for a total transaction of $106,875.00. Following the completion of the transaction, the director directly owned 17,706 shares of the company’s stock, valued at $1,513,863. The trade was a 7.60% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 0.70% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in CHRD. Massachusetts Financial Services Co. MA acquired a new stake in shares of Chord Energy during the 3rd quarter worth about $91,434,000. Orion Porfolio Solutions LLC raised its holdings in Chord Energy by 6,714.2% in the 2nd quarter. Orion Porfolio Solutions LLC now owns 709,086 shares of the company’s stock valued at $68,675,000 after acquiring an additional 698,680 shares during the last quarter. AQR Capital Management LLC raised its holdings in Chord Energy by 210.5% in the 2nd quarter. AQR Capital Management LLC now owns 734,225 shares of the company’s stock valued at $71,110,000 after acquiring an additional 497,789 shares during the last quarter. Barclays PLC lifted its stake in shares of Chord Energy by 186.2% during the 3rd quarter. Barclays PLC now owns 501,170 shares of the company’s stock worth $49,801,000 after purchasing an additional 326,054 shares during the period. Finally, Wellington Management Group LLP boosted its holdings in shares of Chord Energy by 19.9% during the third quarter. Wellington Management Group LLP now owns 1,705,153 shares of the company’s stock worth $169,441,000 after purchasing an additional 282,746 shares during the last quarter. Institutional investors and hedge funds own 97.76% of the company’s stock.

About Chord Energy

Chord Energy Corporation (NASDAQ: CHRD), formerly known as Oasis Petroleum Inc, is an independent exploration and production company focused on the acquisition, development and production of crude oil, natural gas and natural gas liquids. Headquartered in Houston, Texas, Chord Energy emerged from financial restructuring in early 2021 and rebranded in October 2022 to reflect its renewed strategic vision.

The company’s core operations are concentrated in two prolific U.S. resource plays: the Williston Basin across North Dakota and Montana, and the Delaware Basin spanning parts of West Texas and southeastern New Mexico.