Chord Energy Corporation (NASDAQ:CHRD) Receives $156.15 Consensus PT from Analysts

Shares of Chord Energy Corporation (NASDAQ:CHRD) have been assigned an average recommendation of “Moderate Buy” from the fifteen brokerages that are presently covering the stock, MarketBeat Ratings reports. Four equities research analysts have rated the stock with a hold recommendation, ten have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $156.6923.

A number of research analysts recently commented on CHRD shares. Wall Street Zen raised Chord Energy from a “hold” rating to a “buy” rating in a research note on Saturday, May 9th. Weiss Ratings raised Chord Energy from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Tuesday, March 17th. Zacks Research raised Chord Energy from a “hold” rating to a “strong-buy” rating in a research note on Monday, April 6th. Piper Sandler boosted their price target on Chord Energy from $158.00 to $190.00 and gave the company an “overweight” rating in a research note on Thursday, March 12th. Finally, Mizuho boosted their price target on Chord Energy from $162.00 to $164.00 and gave the company an “outperform” rating in a research note on Wednesday, May 6th.

Insider Transactions at Chord Energy

In other Chord Energy news, COO Darrin J. Henke sold 1,276 shares of Chord Energy stock in a transaction dated Friday, May 15th. The stock was sold at an average price of $145.97, for a total value of $186,257.72. Following the transaction, the chief operating officer owned 21,157 shares in the company, valued at $3,088,287.29. The trade was a 5.69% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Michael H. Lou sold 15,000 shares of Chord Energy stock in a transaction dated Thursday, March 12th. The shares were sold at an average price of $125.47, for a total value of $1,882,050.00. Following the completion of the transaction, the executive vice president owned 82,699 shares in the company, valued at approximately $10,376,243.53. This represents a 15.35% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 33,203 shares of company stock valued at $4,197,995. Company insiders own 0.79% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of CHRD. Bessemer Group Inc. grew its position in Chord Energy by 63.8% in the first quarter. Bessemer Group Inc. now owns 190 shares of the company’s stock valued at $27,000 after acquiring an additional 74 shares during the last quarter. V Square Quantitative Management LLC bought a new position in Chord Energy in the first quarter valued at about $29,000. WealthCollab LLC grew its position in Chord Energy by 90.6% in the second quarter. WealthCollab LLC now owns 305 shares of the company’s stock valued at $30,000 after acquiring an additional 145 shares during the last quarter. Quent Capital LLC bought a new position in Chord Energy in the third quarter valued at about $32,000. Finally, Root Financial Partners LLC grew its position in Chord Energy by 178.6% in the first quarter. Root Financial Partners LLC now owns 234 shares of the company’s stock valued at $33,000 after acquiring an additional 150 shares during the last quarter. Institutional investors own 97.76% of the company’s stock.

Chord Energy Stock Up 0.8%

CHRD stock opened at $143.98 on Monday. The company has a market cap of $8.11 billion, a PE ratio of -127.42 and a beta of 0.52. The business has a 50-day simple moving average of $137.69 and a 200 day simple moving average of $111.30. Chord Energy has a 52 week low of $84.25 and a 52 week high of $151.95. The company has a quick ratio of 0.96, a current ratio of 1.02 and a debt-to-equity ratio of 0.18.

Chord Energy (NASDAQ:CHRD) last posted its quarterly earnings results on Tuesday, May 5th. The company reported $4.56 EPS for the quarter, beating analysts’ consensus estimates of $3.51 by $1.05. The business had revenue of $1.67 billion during the quarter, compared to the consensus estimate of $1.21 billion. Chord Energy had a positive return on equity of 7.06% and a negative net margin of 1.25%.Chord Energy’s revenue for the quarter was up 37.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $4.04 earnings per share. Sell-side analysts anticipate that Chord Energy will post 19.11 EPS for the current fiscal year.

Chord Energy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 5th. Investors of record on Wednesday, May 20th will be paid a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date of this dividend is Wednesday, May 20th. Chord Energy’s payout ratio is -460.18%.

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.