Chord Energy Co. (NASDAQ:CHRD) Given Average Rating of “Moderate Buy” by Brokerages

Chord Energy Co. (NASDAQ:CHRD) has earned a consensus recommendation of “Moderate Buy” from the thirteen ratings firms that are presently covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, ten have assigned a buy rating and one has issued a strong buy rating on the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $153.77.

A number of equities research analysts have recently commented on CHRD shares. Morgan Stanley set a $139.00 target price on Chord Energy and gave the stock a “cautious” rating in a research note on Wednesday, March 26th. Mizuho lowered their target price on Chord Energy from $154.00 to $150.00 and set an “outperform” rating on the stock in a research note on Tuesday, May 13th. Piper Sandler lowered their target price on Chord Energy from $184.00 to $183.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 22nd. Citigroup lowered their price objective on Chord Energy from $135.00 to $120.00 and set a “buy” rating on the stock in a research note on Monday, April 7th. Finally, Wells Fargo & Company lowered their price objective on Chord Energy from $166.00 to $158.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 15th.

Insider Activity

In other news, EVP Shannon Browning Kinney sold 3,091 shares of the company’s stock in a transaction dated Thursday, May 8th. The stock was sold at an average price of $94.10, for a total transaction of $290,863.10. Following the sale, the executive vice president now directly owns 21,277 shares in the company, valued at $2,002,165.70. This represents a 12.68% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Company insiders own 0.70% of the company’s stock.

Institutional Investors Weigh In On Chord Energy

Hedge funds and other institutional investors have recently modified their holdings of the stock. Altshuler Shaham Ltd bought a new stake in shares of Chord Energy during the fourth quarter valued at about $25,000. Twin Tree Management LP bought a new stake in shares of Chord Energy during the fourth quarter valued at about $33,000. Larson Financial Group LLC grew its holdings in shares of Chord Energy by 238.3% during the fourth quarter. Larson Financial Group LLC now owns 318 shares of the company’s stock worth $37,000 after purchasing an additional 224 shares in the last quarter. Hexagon Capital Partners LLC grew its holdings in shares of Chord Energy by 321.7% during the first quarter. Hexagon Capital Partners LLC now owns 447 shares of the company’s stock worth $50,000 after purchasing an additional 341 shares in the last quarter. Finally, R Squared Ltd purchased a new position in shares of Chord Energy during the fourth quarter worth about $51,000. 97.76% of the stock is currently owned by institutional investors.

Chord Energy Stock Performance

NASDAQ CHRD opened at $94.89 on Monday. The company has a fifty day simple moving average of $92.61 and a 200 day simple moving average of $107.86. Chord Energy has a 12-month low of $79.83 and a 12-month high of $181.17. The company has a current ratio of 0.93, a quick ratio of 0.89 and a debt-to-equity ratio of 0.10. The company has a market cap of $5.48 billion, a P/E ratio of 4.89, a PEG ratio of 5.83 and a beta of 0.96.

Chord Energy (NASDAQ:CHRD) last posted its quarterly earnings data on Tuesday, May 6th. The company reported $4.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.60 by $0.44. The firm had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.07 billion. Chord Energy had a net margin of 19.74% and a return on equity of 12.88%. The business’s revenue for the quarter was up 12.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $5.10 EPS. Sell-side analysts predict that Chord Energy will post 15.59 earnings per share for the current fiscal year.

Chord Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 9th. Stockholders of record on Wednesday, May 21st will be given a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a dividend yield of 5.48%. The ex-dividend date of this dividend is Wednesday, May 21st. Chord Energy’s dividend payout ratio is presently 34.78%.

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.