Chord Energy Corporation (NASDAQ:CHRD) Receives $144.67 Average Target Price from Brokerages

Shares of Chord Energy Corporation (NASDAQ:CHRD) have been given an average rating of “Moderate Buy” by the thirteen research firms that are covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $143.4167.

CHRD has been the subject of a number of recent research reports. Wells Fargo & Company lifted their price target on shares of Chord Energy from $146.00 to $149.00 and gave the company an “overweight” rating in a research report on Wednesday, September 17th. Mizuho lowered their price target on shares of Chord Energy from $152.00 to $142.00 and set an “outperform” rating for the company in a research report on Monday, September 15th. Royal Bank Of Canada reissued an “outperform” rating and set a $130.00 price target on shares of Chord Energy in a research report on Monday. Citigroup lifted their price target on shares of Chord Energy from $120.00 to $125.00 and gave the company a “buy” rating in a research report on Wednesday, July 9th. Finally, Bank of America lifted their price target on shares of Chord Energy from $112.00 to $123.00 and gave the company a “buy” rating in a research report on Wednesday, September 17th.

Chord Energy Trading Down 0.3%

Shares of CHRD opened at $99.40 on Friday. The firm’s 50-day moving average price is $103.94 and its 200-day moving average price is $100.57. The firm has a market capitalization of $5.69 billion, a price-to-earnings ratio of 25.29 and a beta of 0.94. The company has a current ratio of 0.97, a quick ratio of 0.90 and a debt-to-equity ratio of 0.11. Chord Energy has a 1-year low of $79.83 and a 1-year high of $136.38.

Chord Energy (NASDAQ:CHRD) last announced its earnings results on Wednesday, August 6th. The company reported $1.79 earnings per share for the quarter, missing analysts’ consensus estimates of $1.88 by ($0.09). The company had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $984.07 million. Chord Energy had a net margin of 5.02% and a return on equity of 9.02%. The company’s revenue for the quarter was up 5.3% on a year-over-year basis. During the same period in the previous year, the firm posted $4.69 EPS. Sell-side analysts anticipate that Chord Energy will post 15.59 EPS for the current year.

Chord Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 8th. Investors of record on Thursday, August 21st were given a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a yield of 5.2%. The ex-dividend date of this dividend was Thursday, August 21st. Chord Energy’s dividend payout ratio (DPR) is 132.32%.

Insider Transactions at Chord Energy

In related news, EVP Shannon Browning Kinney sold 3,019 shares of Chord Energy stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $105.43, for a total transaction of $318,293.17. Following the completion of the transaction, the executive vice president directly owned 14,650 shares of the company’s stock, valued at $1,544,549.50. This trade represents a 17.09% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.70% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of CHRD. Bayforest Capital Ltd purchased a new position in Chord Energy in the second quarter worth about $28,000. WealthCollab LLC raised its holdings in Chord Energy by 90.6% in the second quarter. WealthCollab LLC now owns 305 shares of the company’s stock worth $30,000 after buying an additional 145 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in Chord Energy by 91.2% in the second quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 411 shares of the company’s stock worth $40,000 after buying an additional 196 shares during the last quarter. Hexagon Capital Partners LLC raised its holdings in Chord Energy by 321.7% in the first quarter. Hexagon Capital Partners LLC now owns 447 shares of the company’s stock worth $50,000 after buying an additional 341 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd raised its holdings in Chord Energy by 5,877.8% in the first quarter. Caitong International Asset Management Co. Ltd now owns 538 shares of the company’s stock worth $61,000 after buying an additional 529 shares during the last quarter. 97.76% of the stock is owned by hedge funds and other institutional investors.

Chord Energy Company Profile

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.