Chord Energy Co. (NASDAQ:CHRD) Receives Consensus Rating of “Moderate Buy” from Brokerages

Shares of Chord Energy Co. (NASDAQ:CHRD) have been assigned an average recommendation of “Moderate Buy” from the nine ratings firms that are currently covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, one has given a hold recommendation and seven have issued a buy recommendation on the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $193.50.

A number of research analysts recently issued reports on the stock. Piper Sandler boosted their target price on shares of Chord Energy from $219.00 to $230.00 and gave the company an “overweight” rating in a research report on Friday, April 19th. Stifel Nicolaus lifted their target price on Chord Energy from $178.00 to $211.00 and gave the company a “buy” rating in a research report on Tuesday, February 27th. Mizuho boosted their price target on shares of Chord Energy from $189.00 to $195.00 and gave the stock a “buy” rating in a report on Thursday, March 14th. Royal Bank of Canada increased their price target on Chord Energy from $180.00 to $200.00 and gave the company an “outperform” rating in a research report on Monday, April 29th. Finally, Truist Financial lowered their target price on Chord Energy from $229.00 to $224.00 and set a “buy” rating on the stock in a research note on Friday, April 5th.

Insider Activity

In other Chord Energy news, CFO Michael H. Lou sold 3,000 shares of the company’s stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $165.00, for a total value of $495,000.00. Following the transaction, the chief financial officer now directly owns 128,209 shares in the company, valued at approximately $21,154,485. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.70% of the company’s stock.

Hedge Funds Weigh In On Chord Energy

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Vest Financial LLC increased its stake in Chord Energy by 36.0% in the fourth quarter. Vest Financial LLC now owns 79,293 shares of the company’s stock valued at $13,181,000 after acquiring an additional 20,995 shares during the last quarter. Federated Hermes Inc. increased its position in shares of Chord Energy by 35.4% during the 4th quarter. Federated Hermes Inc. now owns 38,517 shares of the company’s stock valued at $6,403,000 after purchasing an additional 10,075 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its position in Chord Energy by 12.3% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 491,737 shares of the company’s stock worth $81,742,000 after buying an additional 53,992 shares during the last quarter. Natixis Advisors L.P. boosted its stake in Chord Energy by 68.5% in the third quarter. Natixis Advisors L.P. now owns 38,458 shares of the company’s stock worth $6,233,000 after buying an additional 15,632 shares in the last quarter. Finally, Monument Capital Management purchased a new stake in Chord Energy in the fourth quarter worth approximately $2,035,000. Hedge funds and other institutional investors own 97.76% of the company’s stock.

Chord Energy Stock Up 0.4 %

Shares of NASDAQ CHRD opened at $175.98 on Friday. The company’s 50 day moving average price is $174.36 and its 200-day moving average price is $165.84. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.16 and a current ratio of 1.22. Chord Energy has a 52-week low of $133.61 and a 52-week high of $190.23. The company has a market capitalization of $7.31 billion, a P/E ratio of 7.48 and a beta of 1.07.

Chord Energy (NASDAQ:CHRD) last posted its quarterly earnings data on Wednesday, February 21st. The company reported $5.25 earnings per share for the quarter, topping the consensus estimate of $5.04 by $0.21. Chord Energy had a return on equity of 16.35% and a net margin of 26.27%. The firm had revenue of $964.69 million during the quarter, compared to analyst estimates of $891.67 million. Equities analysts forecast that Chord Energy will post 22.03 earnings per share for the current year.

Chord Energy Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 19th. Shareholders of record on Tuesday, March 5th were paid a $3.25 dividend. The ex-dividend date of this dividend was Monday, March 4th. This is a boost from Chord Energy’s previous quarterly dividend of $1.25. This represents a $13.00 annualized dividend and a yield of 7.39%. Chord Energy’s dividend payout ratio is currently 21.25%.

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.