Chord Energy (NASDAQ:CHRD) Cut to Strong Sell at Zacks Research

Zacks Research downgraded shares of Chord Energy (NASDAQ:CHRD) from a hold rating to a strong sell rating in a research report released on Tuesday morning,Zacks.com reports.

A number of other brokerages have also commented on CHRD. Jefferies Financial Group set a $99.00 price target on shares of Chord Energy in a research note on Saturday, January 17th. William Blair assumed coverage on Chord Energy in a report on Friday, November 21st. They set an “outperform” rating for the company. Pickering Energy Partners lowered Chord Energy from an “outperform” rating to a “neutral” rating in a research note on Friday, January 9th. Morgan Stanley set a $123.00 price target on Chord Energy in a report on Thursday, November 20th. Finally, Piper Sandler decreased their price objective on Chord Energy from $167.00 to $165.00 and set an “overweight” rating on the stock in a report on Tuesday, November 18th. Eight analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $126.17.

Chord Energy Stock Down 0.3%

CHRD opened at $94.85 on Tuesday. Chord Energy has a 1-year low of $79.83 and a 1-year high of $123.78. The stock’s fifty day simple moving average is $93.09 and its 200 day simple moving average is $98.08. 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 stock has a market cap of $5.39 billion, a PE ratio of 36.48 and a beta of 0.92.

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

Chord Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 5th. Shareholders of record on Wednesday, November 19th were paid a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a yield of 5.5%. The ex-dividend date was Wednesday, November 19th. Chord Energy’s dividend payout ratio (DPR) is 200.00%.

Insiders Place Their Bets

In related news, Director Samantha Holroyd bought 1,250 shares of the business’s stock in a transaction dated Friday, November 7th. The stock was purchased at an average cost 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 acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.70% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in Chord Energy by 17.1% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 123,964 shares of the company’s stock worth $13,973,000 after buying an additional 18,137 shares in the last quarter. Focus Partners Wealth bought a new stake in shares of Chord Energy during the 1st quarter worth approximately $289,000. Voya Investment Management LLC lifted its holdings in shares of Chord Energy by 1.4% during the 1st quarter. Voya Investment Management LLC now owns 7,579 shares of the company’s stock worth $854,000 after acquiring an additional 107 shares during the period. Wealth Enhancement Advisory Services LLC acquired a new stake in shares of Chord Energy during the 2nd quarter worth approximately $1,755,000. Finally, Park Avenue Securities LLC increased its stake in Chord Energy by 14.2% in the second quarter. Park Avenue Securities LLC now owns 3,178 shares of the company’s stock valued at $308,000 after acquiring an additional 394 shares during the last quarter. Institutional investors and hedge funds own 97.76% of the company’s stock.

Chord Energy Company Profile

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.