Chord Energy (NASDAQ:CHRD) Upgraded at Zacks Research

Zacks Research upgraded shares of Chord Energy (NASDAQ:CHRD) from a hold rating to a strong-buy rating in a research report report published on Monday morning,Zacks.com reports.

A number of other equities analysts have also weighed in on the company. Wall Street Zen upgraded Chord Energy from a “sell” rating to a “hold” rating in a research note on Saturday, March 28th. Weiss Ratings upgraded Chord Energy from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Tuesday, March 17th. UBS Group upped their target price on Chord Energy from $119.00 to $142.00 and gave the stock a “buy” rating in a research note on Thursday, March 5th. Pickering Energy Partners lowered Chord Energy from an “outperform” rating to a “neutral” rating in a research report on Friday, January 9th. Finally, Morgan Stanley upgraded Chord Energy from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $114.00 to $168.00 in a research report on Friday, March 27th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $145.08.

Chord Energy Price Performance

Shares of NASDAQ CHRD opened at $134.93 on Monday. The firm has a market capitalization of $7.65 billion, a P/E ratio of 214.17 and a beta of 0.66. The company has a quick ratio of 0.98, a current ratio of 1.06 and a debt-to-equity ratio of 0.18. The stock’s 50-day simple moving average is $118.27 and its two-hundred day simple moving average is $102.17. Chord Energy has a twelve month low of $79.83 and a twelve month high of $148.41.

Chord Energy (NASDAQ:CHRD) last announced its earnings results on Wednesday, February 25th. The company reported $1.28 earnings per share for the quarter, topping analysts’ consensus estimates of $1.17 by $0.11. The business had revenue of $1.17 billion for the quarter, compared to analyst estimates of $1.03 billion. Chord Energy had a return on equity of 6.71% and a net margin of 0.91%.The company’s quarterly revenue was down 19.6% compared to the same quarter last year. During the same period in the prior year, the company earned $3.49 EPS. As a group, equities analysts anticipate that Chord Energy will post 15.59 EPS for the current fiscal year.

Chord Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 27th. Stockholders of record on Thursday, March 12th were given a dividend of $1.30 per share. The ex-dividend date was Thursday, March 12th. This represents a $5.20 annualized dividend and a dividend yield of 3.9%. Chord Energy’s dividend payout ratio is 825.40%.

Insider Transactions at Chord Energy

In other news, CAO Lara J. Kroll sold 5,000 shares of the stock in a transaction dated Tuesday, March 3rd. The stock was sold at an average price of $113.66, for a total transaction of $568,300.00. Following the transaction, the chief accounting officer directly owned 8,921 shares in the company, valued at approximately $1,013,960.86. This represents a 35.92% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Shannon Browning Kinney sold 1,801 shares of the stock in a transaction dated Tuesday, March 3rd. The shares were sold at an average price of $114.36, for a total value of $205,962.36. Following the transaction, the executive vice president owned 20,188 shares in the company, valued at $2,308,699.68. This trade represents a 8.19% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 23,927 shares of company stock valued at $2,912,028 over the last 90 days. Company insiders own 0.70% of the company’s stock.

Hedge Funds Weigh In On Chord Energy

Several institutional investors and hedge funds have recently bought and sold shares of the stock. SBI Securities Co. Ltd. grew its position in Chord Energy by 16.5% during the 4th quarter. SBI Securities Co. Ltd. now owns 797 shares of the company’s stock worth $74,000 after acquiring an additional 113 shares during the last quarter. First Citizens Bank & Trust Co. grew its position in Chord Energy by 2.3% during the 3rd quarter. First Citizens Bank & Trust Co. now owns 5,306 shares of the company’s stock worth $527,000 after acquiring an additional 120 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its position in Chord Energy by 18.8% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 822 shares of the company’s stock worth $82,000 after acquiring an additional 130 shares during the last quarter. WealthCollab LLC grew its position in Chord Energy by 90.6% during the 2nd quarter. WealthCollab LLC now owns 305 shares of the company’s stock worth $30,000 after acquiring an additional 145 shares during the last quarter. Finally, PNC Financial Services Group Inc. grew its position in Chord Energy by 3.8% during the 3rd quarter. PNC Financial Services Group Inc. now owns 4,325 shares of the company’s stock worth $430,000 after acquiring an additional 157 shares during the last quarter. 97.76% of the stock is currently owned by institutional investors.

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.