Chord Energy Co. (NASDAQ:CHRD) Given Consensus Recommendation of “Moderate Buy” by Analysts

Shares of Chord Energy Co. (NASDAQ:CHRD) have earned a consensus recommendation of “Moderate Buy” from the eleven brokerages that are presently covering the stock, Marketbeat reports. Two investment analysts have rated the stock with a hold recommendation and nine have given a buy recommendation to the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $197.90.

CHRD has been the subject of several research reports. Wells Fargo & Company reduced their price objective on Chord Energy from $200.00 to $185.00 and set an “overweight” rating for the company in a research note on Tuesday. Citigroup reduced their price objective on Chord Energy from $195.00 to $180.00 and set a “buy” rating for the company in a research note on Monday, August 12th. Truist Financial reduced their price objective on Chord Energy from $223.00 to $185.00 and set a “buy” rating for the company in a research note on Monday. Royal Bank of Canada reissued an “outperform” rating and set a $200.00 price objective on shares of Chord Energy in a research note on Friday, September 20th. Finally, Bank of America raised their price objective on Chord Energy from $201.00 to $208.00 and gave the stock a “buy” rating in a research note on Wednesday, August 21st.

Insider Transactions at Chord Energy

In other Chord Energy news, Director Samantha Holroyd bought 500 shares of the firm’s stock in a transaction dated Friday, August 23rd. The stock was acquired at an average price of $149.51 per share, with a total value of $74,755.00. Following the completion of the transaction, the director now directly owns 14,417 shares in the company, valued at approximately $2,155,485.67. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.70% of the stock is currently owned by insiders.

Institutional Trading of Chord Energy

Hedge funds and other institutional investors have recently modified their holdings of the company. Rise Advisors LLC purchased a new stake in shares of Chord Energy during the first quarter worth $31,000. Ashton Thomas Private Wealth LLC purchased a new stake in shares of Chord Energy during the second quarter worth $40,000. Benjamin F. Edwards & Company Inc. raised its holdings in shares of Chord Energy by 125.9% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 244 shares of the company’s stock worth $41,000 after acquiring an additional 136 shares in the last quarter. GAMMA Investing LLC raised its holdings in shares of Chord Energy by 151.6% during the second quarter. GAMMA Investing LLC now owns 317 shares of the company’s stock worth $53,000 after acquiring an additional 191 shares in the last quarter. Finally, Atlas Capital Advisors LLC purchased a new stake in shares of Chord Energy during the second quarter worth $60,000. 97.76% of the stock is currently owned by hedge funds and other institutional investors.

Chord Energy Stock Performance

Shares of NASDAQ CHRD opened at $130.59 on Wednesday. The stock has a fifty day moving average price of $147.58 and a two-hundred day moving average price of $165.92. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.91 and a current ratio of 0.96. The firm has a market cap of $5.44 billion, a P/E ratio of 6.13, a PEG ratio of 4.92 and a beta of 0.99. Chord Energy has a 1 year low of $126.96 and a 1 year high of $190.23.

Chord Energy (NASDAQ:CHRD) last issued its quarterly earnings results on Wednesday, August 7th. The company reported $4.69 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $5.00 by ($0.31). The firm had revenue of $902.70 million for the quarter, compared to the consensus estimate of $982.43 million. Chord Energy had a net margin of 20.83% and a return on equity of 15.06%. The business’s revenue for the quarter was up 29.8% compared to the same quarter last year. During the same period in the previous year, the business posted $3.65 earnings per share. Research analysts forecast that Chord Energy will post 18.48 EPS for the current fiscal year.

Chord Energy Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 5th. Stockholders of record on Wednesday, August 21st were given a $1.25 dividend. The ex-dividend date of this dividend was Wednesday, August 21st. This represents a $5.00 annualized dividend and a dividend yield of 3.83%. Chord Energy’s dividend payout ratio (DPR) is presently 23.46%.

About Chord Energy

Chord Energy Corporation operates as an independent exploration and production company in the United States. It acquires, explores, develops, and produces crude oil, natural gas, and natural gas liquids in the Williston Basin. The company sells its products to refiners, marketers, and other purchasers that have access to nearby pipeline and rail facilities.