Chord Energy Corporation (NASDAQ:CHRD) Given Average Recommendation of “Hold” by Brokerages

Shares of Chord Energy Corporation (NASDAQ:CHRD) have received an average rating of “Hold” from the fourteen ratings firms that are covering the firm, MarketBeat Ratings reports. Two analysts have rated the stock with a sell recommendation, four have issued a hold recommendation and eight have assigned a buy recommendation to the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $123.9167.

Several analysts have recently commented on CHRD shares. Scotiabank restated a “sector perform” rating and set a $114.00 price objective on shares of Chord Energy in a research report on Friday, January 16th. Morgan Stanley decreased their price target on Chord Energy from $123.00 to $114.00 and set an “equal weight” rating on the stock in a report on Friday, January 23rd. William Blair assumed coverage on Chord Energy in a research report on Friday, November 21st. They issued an “outperform” rating on the stock. Pickering Energy Partners cut Chord Energy from an “outperform” rating to a “neutral” rating in a research report on Friday, January 9th. Finally, Wells Fargo & Company decreased their target price on Chord Energy from $113.00 to $109.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 27th.

Institutional Investors Weigh In On Chord Energy

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. WealthCollab LLC grew its holdings in 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 purchasing an additional 145 shares during the last quarter. Quent Capital LLC bought a new position in shares of Chord Energy during the third quarter valued at approximately $32,000. Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in shares of Chord Energy by 91.2% during the second quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 411 shares of the company’s stock valued at $40,000 after buying an additional 196 shares during the last quarter. Pilgrim Partners Asia Pte Ltd purchased a new stake in shares of Chord Energy in the third quarter worth approximately $46,000. Finally, TD Private Client Wealth LLC lifted its stake in shares of Chord Energy by 360.3% during the 4th quarter. TD Private Client Wealth LLC now owns 580 shares of the company’s stock worth $54,000 after acquiring an additional 454 shares during the last quarter. 97.76% of the stock is currently owned by hedge funds and other institutional investors.

Chord Energy Price Performance

NASDAQ CHRD opened at $112.34 on Wednesday. Chord Energy has a one year low of $79.83 and a one year high of $116.26. The stock has a 50-day moving average of $97.77 and a 200 day moving average of $97.20. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.98 and a current ratio of 1.06. The company has a market capitalization of $6.39 billion, a price-to-earnings ratio of 178.32 and a beta of 0.84.

Chord Energy (NASDAQ:CHRD) last released its quarterly earnings results on Wednesday, February 25th. The company reported $1.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.17 by $0.11. Chord Energy had a return on equity of 6.71% and a net margin of 0.91%.The firm had revenue of $1.17 billion for the quarter, compared to the consensus estimate of $1.03 billion. During the same period last year, the business posted $3.49 EPS. The company’s revenue for the quarter was down 19.6% on a year-over-year basis. On average, sell-side analysts forecast that Chord Energy will post 15.59 EPS for the current year.

Chord Energy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 27th. Shareholders of record on Thursday, March 12th will be issued a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a yield of 4.6%. The ex-dividend date is Thursday, March 12th. Chord Energy’s dividend payout ratio (DPR) is currently 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.