Chord Energy (NASDAQ:CHRD) Now Covered by Truist Financial

Truist Financial began coverage on shares of Chord Energy (NASDAQ:CHRD) in a research report sent to investors on Tuesday, MarketBeat.com reports. The firm issued a buy rating and a $169.00 price target on the stock.

CHRD has been the topic of several other research reports. Pickering Energy Partners cut shares of Chord Energy from an “outperform” rating to a “neutral” rating in a research report on Friday, January 9th. Morgan Stanley lowered their price objective on shares of Chord Energy from $123.00 to $114.00 and set an “equal weight” rating for the company in a research report on Friday, January 23rd. Scotiabank restated a “sector perform” rating and issued a $114.00 target price on shares of Chord Energy in a report on Friday, January 16th. Royal Bank Of Canada decreased their target price on shares of Chord Energy from $135.00 to $128.00 and set an “outperform” rating on the stock in a research report on Tuesday, January 13th. Finally, Wells Fargo & Company increased their price target on shares of Chord Energy from $109.00 to $136.00 and gave the company an “overweight” rating in a report on Monday, March 16th. Nine research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat, Chord Energy presently has a consensus rating of “Moderate Buy” and a consensus target price of $134.42.

Chord Energy Stock Performance

NASDAQ CHRD opened at $136.99 on Tuesday. The stock has a market capitalization of $7.77 billion, a PE ratio of 217.44 and a beta of 0.84. The business has a 50 day simple moving average of $107.89 and a two-hundred day simple moving average of $99.23. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.06 and a quick ratio of 0.98. Chord Energy has a 1-year low of $79.83 and a 1-year high of $138.88.

Chord Energy (NASDAQ:CHRD) last released its quarterly earnings data 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. The business had revenue of $1.17 billion for the quarter, compared to the consensus estimate of $1.03 billion. Chord Energy had a return on equity of 6.71% and a net margin of 0.91%.The company’s revenue was down 19.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.49 EPS. On average, research analysts predict that Chord Energy will post 15.59 EPS for the current fiscal year.

Chord Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 27th. Investors of record on Thursday, March 12th will be issued a dividend of $1.30 per share. The ex-dividend date is Thursday, March 12th. This represents a $5.20 dividend on an annualized basis and a yield of 3.8%. Chord Energy’s payout ratio is presently 825.40%.

Insiders Place Their Bets

In other Chord Energy news, EVP Shannon Browning Kinney sold 1,801 shares of the stock in a transaction on Tuesday, March 3rd. The stock was sold at an average price of $114.36, for a total value of $205,962.36. Following the sale, 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. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Douglas E. Brooks sold 2,126 shares of Chord Energy stock in a transaction on Friday, March 6th. The stock was sold at an average price of $120.28, for a total value of $255,715.28. Following the sale, the director owned 25,181 shares of the company’s stock, valued at approximately $3,028,770.68. This trade represents a 7.79% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 23,927 shares of company stock worth $2,912,028. Insiders own 0.70% of the company’s stock.

Institutional Investors Weigh In On Chord Energy

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Citigroup Inc. raised its stake in Chord Energy by 31.1% in the third quarter. Citigroup Inc. now owns 111,590 shares of the company’s stock worth $11,089,000 after buying an additional 26,499 shares in the last quarter. Massachusetts Financial Services Co. MA bought a new stake in Chord Energy during the 3rd quarter valued at $91,434,000. Wedge Capital Management L L P NC bought a new stake in Chord Energy during the 3rd quarter valued at $13,092,000. AlphaQuest LLC increased its holdings in shares of Chord Energy by 1,576.7% in the 3rd quarter. AlphaQuest LLC now owns 27,933 shares of the company’s stock valued at $2,776,000 after acquiring an additional 26,267 shares during the period. Finally, Creative Planning raised its position in shares of Chord Energy by 37.5% in the 2nd quarter. Creative Planning now owns 21,111 shares of the company’s stock worth $2,045,000 after acquiring an additional 5,754 shares in the last quarter. Institutional investors 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.