Chord Energy Corporation (NASDAQ:CHRD) Receives Average Rating of “Moderate Buy” from Analysts

Shares of Chord Energy Corporation (NASDAQ:CHRD) have received an average rating of “Moderate Buy” from the fifteen ratings firms that are covering the stock, Marketbeat.com reports. Five research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $138.9167.

A number of research firms have issued reports on CHRD. Morgan Stanley raised Chord Energy from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $114.00 to $168.00 in a research report on Friday. Jefferies Financial Group set a $99.00 price objective on Chord Energy in a report on Saturday, January 17th. Pickering Energy Partners cut Chord Energy from an “outperform” rating to a “neutral” rating in a report on Friday, January 9th. UBS Group increased their target price on shares of Chord Energy from $119.00 to $142.00 and gave the stock a “buy” rating in a research report on Thursday, March 5th. Finally, Royal Bank Of Canada cut their price target on shares of Chord Energy from $135.00 to $128.00 and set an “outperform” rating on the stock in a report on Tuesday, January 13th.

Insider Buying and Selling at Chord Energy

In related news, Director Douglas E. Brooks sold 2,126 shares of Chord Energy stock in a transaction on Friday, March 6th. The shares were sold at an average price of $120.28, for a total transaction of $255,715.28. Following the transaction, the director owned 25,181 shares in the company, valued at approximately $3,028,770.68. The trade was a 7.79% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Michael H. Lou sold 15,000 shares of the company’s stock in a transaction on Thursday, March 12th. The stock was sold at an average price of $125.47, for a total transaction of $1,882,050.00. Following the sale, the executive vice president directly owned 82,699 shares of the company’s stock, valued at approximately $10,376,243.53. This trade represents a 15.35% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 23,927 shares of company stock worth $2,912,028. 0.70% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Chord Energy

A number of large investors have recently modified their holdings of the stock. Massachusetts Financial Services Co. MA purchased a new stake in shares of Chord Energy during the 3rd quarter valued at about $91,434,000. Orion Porfolio Solutions LLC boosted 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 worth $68,675,000 after acquiring an additional 698,680 shares during the period. Dimensional Fund Advisors LP grew its position in Chord Energy by 85.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,218,167 shares of the company’s stock valued at $112,927,000 after acquiring an additional 561,899 shares in the last quarter. AQR Capital Management LLC grew its position in Chord Energy by 210.5% in the second 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 in the last quarter. Finally, Barclays PLC raised its stake in shares of Chord Energy by 186.2% during the third quarter. Barclays PLC now owns 501,170 shares of the company’s stock valued at $49,801,000 after purchasing an additional 326,054 shares during the period. Institutional investors and hedge funds own 97.76% of the company’s stock.

Chord Energy Stock Performance

NASDAQ:CHRD opened at $145.35 on Friday. The company has a market cap of $8.24 billion, a P/E ratio of 230.71 and a beta of 0.84. The firm’s 50 day moving average is $110.87 and its two-hundred day moving average is $100.09. Chord Energy has a fifty-two week low of $79.83 and a fifty-two week high of $146.93. The company has a quick ratio of 0.98, a current ratio of 1.06 and a debt-to-equity ratio of 0.18.

Chord Energy (NASDAQ:CHRD) last announced its quarterly earnings data on Wednesday, February 25th. The company reported $1.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.17 by $0.11. The company had revenue of $1.17 billion during the quarter, compared to analysts’ expectations of $1.03 billion. Chord Energy had a net margin of 0.91% and a return on equity of 6.71%. The business’s quarterly revenue was down 19.6% compared to the same quarter last year. During the same period in the previous year, the company earned $3.49 EPS. Analysts expect that Chord Energy will post 15.59 EPS for the current year.

Chord Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 27th. Stockholders of record on Thursday, March 12th were given a $1.30 dividend. The ex-dividend date of this dividend was Thursday, March 12th. This represents a $5.20 annualized dividend and a dividend yield of 3.6%. Chord Energy’s dividend payout ratio is presently 825.40%.

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.