Chord Energy Corporation (NASDAQ:CHRD) Receives $157.54 Consensus Price Target from Analysts

Chord Energy Corporation (NASDAQ:CHRD) has been assigned an average recommendation of “Moderate Buy” from the fifteen ratings firms that are covering the company, MarketBeat.com reports. Five research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $157.5385.

Several equities analysts have recently issued reports on CHRD shares. Wells Fargo & Company upped their price target on Chord Energy from $136.00 to $175.00 and gave the company an “overweight” rating in a research note on Wednesday, April 8th. UBS Group upped their price target on Chord Energy from $176.00 to $179.00 and gave the company a “buy” rating in a research note on Thursday, May 7th. Morgan Stanley upped their price target on Chord Energy from $168.00 to $175.00 and gave the company an “overweight” rating in a research note on Friday, May 22nd. Williams Trading set a $189.00 price target on Chord Energy in a research note on Monday, April 20th. Finally, Scotiabank increased their target price on Chord Energy from $114.00 to $135.00 and gave the company a “sector perform” rating in a research note on Wednesday, April 22nd.

Chord Energy Trading Down 3.0%

Shares of CHRD opened at $123.12 on Friday. 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 has a 12-month low of $84.25 and a 12-month high of $151.95. The firm has a market capitalization of $6.93 billion, a PE ratio of -108.96 and a beta of 0.48. The stock’s fifty day simple moving average is $137.12 and its 200-day simple moving average is $117.36.

Chord Energy (NASDAQ:CHRD) last issued its quarterly earnings results on Tuesday, May 5th. The company reported $4.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.51 by $1.05. Chord Energy had a positive return on equity of 7.06% and a negative net margin of 1.25%.The business had revenue of $1.67 billion for the quarter, compared to analyst estimates of $1.21 billion. During the same quarter in the prior year, the firm posted $4.04 earnings per share. The firm’s revenue for the quarter was up 37.1% compared to the same quarter last year. As a group, research analysts predict that Chord Energy will post 20.53 earnings per share for the current year.

Chord Energy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, June 5th. Shareholders of record on Wednesday, May 20th were paid a $1.30 dividend. The ex-dividend date of this dividend was Wednesday, May 20th. This represents a $5.20 annualized dividend and a yield of 4.2%. Chord Energy’s dividend payout ratio is presently -460.18%.

Insider Transactions at Chord Energy

In other news, Director Douglas E. Brooks sold 1,500 shares of the firm’s stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $138.57, for a total transaction of $207,855.00. Following the sale, the director owned 18,705 shares of the company’s stock, valued at $2,591,951.85. This trade represents a 7.42% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Darrin J. Henke sold 1,276 shares of the firm’s 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 sale, the chief operating officer directly owned 21,157 shares in the company, valued at approximately $3,088,287.29. This represents a 5.69% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 9,276 shares of company stock worth $1,285,968. 0.79% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Chord Energy

Hedge funds have recently modified their holdings of the business. Bessemer Group Inc. grew its stake 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 purchasing an additional 74 shares in the last quarter. V Square Quantitative Management LLC bought a new position in Chord Energy in the first quarter valued at approximately $29,000. WealthCollab LLC grew its stake 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 purchasing an additional 145 shares in the last quarter. Root Financial Partners LLC grew its stake 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 purchasing an additional 150 shares in the last quarter. Finally, Rockefeller Capital Management L.P. grew its stake in Chord Energy by 213.1% in the fourth quarter. Rockefeller Capital Management L.P. now owns 501 shares of the company’s stock valued at $47,000 after purchasing an additional 341 shares in the last quarter. Institutional investors and hedge funds 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.