Chord Energy (NASDAQ:CHRD) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Chord Energy (NASDAQ:CHRD) from a sell rating to a hold rating in a research note issued to investors on Saturday morning.

CHRD has been the subject of a number of other reports. Royal Bank Of Canada cut their target price on shares of Chord Energy from $135.00 to $128.00 and set an “outperform” rating for the company in a report on Tuesday, January 13th. UBS Group upped their price target on shares of Chord Energy from $119.00 to $142.00 and gave the company a “buy” rating in a research note on Thursday, March 5th. Morgan Stanley upgraded shares of Chord Energy from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $114.00 to $168.00 in a research report on Friday. Weiss Ratings raised shares of Chord Energy from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Tuesday, March 17th. Finally, Citigroup upped their target price on shares of Chord Energy from $97.00 to $120.00 and gave the company a “neutral” rating in a research report on Friday, March 6th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $138.92.

Chord Energy Price Performance

NASDAQ:CHRD opened at $146.24 on Friday. The business’s 50-day moving average is $111.95 and its 200 day moving average is $100.33. Chord Energy has a 12 month low of $79.83 and a 12 month high of $148.04. The company has a market capitalization of $8.29 billion, a P/E ratio of 232.13 and a beta of 0.84. The company has a current ratio of 1.06, a quick ratio of 0.98 and a debt-to-equity ratio of 0.18.

Chord Energy (NASDAQ:CHRD) last released its quarterly earnings results on Wednesday, February 25th. The company reported $1.28 earnings per share for the quarter, beating the consensus estimate of $1.17 by $0.11. Chord Energy had a return on equity of 6.71% and a net margin of 0.91%.The business had revenue of $1.17 billion during the quarter, compared to analysts’ expectations of $1.03 billion. During the same quarter last year, the business posted $3.49 EPS. The firm’s revenue for the quarter was down 19.6% compared to the same quarter last year. On average, equities research analysts forecast that Chord Energy will post 15.59 earnings per share for the current fiscal year.

Chord Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 27th. Shareholders of record on Thursday, March 12th were given a dividend of $1.30 per share. The ex-dividend date was Thursday, March 12th. This represents a $5.20 dividend on an annualized basis and a yield of 3.6%. Chord Energy’s payout ratio is 825.40%.

Insider Activity

In related news, EVP Shannon Browning Kinney sold 1,801 shares of Chord Energy stock in a transaction dated Tuesday, March 3rd. The shares were sold at an average price of $114.36, for a total transaction of $205,962.36. Following the completion of the transaction, the executive vice president directly owned 20,188 shares of the company’s stock, valued at approximately $2,308,699.68. The trade was a 8.19% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Michael H. Lou sold 15,000 shares of the company’s stock in a transaction dated Thursday, March 12th. The shares were sold at an average price of $125.47, for a total transaction of $1,882,050.00. Following the transaction, the executive vice president owned 82,699 shares in the company, valued at $10,376,243.53. The trade was a 15.35% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 23,927 shares of company stock worth $2,912,028. Insiders own 0.79% of the company’s stock.

Institutional Investors Weigh In On Chord Energy

A number of institutional investors and hedge funds have recently modified their holdings of the business. Hsbc Holdings PLC boosted its holdings in Chord Energy by 169.1% during the 4th quarter. Hsbc Holdings PLC now owns 164,220 shares of the company’s stock valued at $15,138,000 after acquiring an additional 103,202 shares during the period. Rockefeller Capital Management L.P. grew its position in Chord Energy by 213.1% in the 4th quarter. Rockefeller Capital Management L.P. now owns 501 shares of the company’s stock valued at $47,000 after acquiring an additional 341 shares during the last quarter. World Investment Advisors purchased a new stake in Chord Energy in the fourth quarter worth $408,000. Sankala Group LLC purchased a new stake in Chord Energy in the fourth quarter worth $57,000. Finally, MidFirst Bank bought a new stake in shares of Chord Energy during the fourth quarter worth $115,000. 97.76% of the stock is owned by institutional investors.

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.