Chord Energy Corporation (NASDAQ:CHRD) Receives $131.91 Average Price Target from Brokerages

Shares of Chord Energy Corporation (NASDAQ:CHRD) have been given an average rating of “Moderate Buy” by the thirteen brokerages that are currently covering the company, MarketBeat Ratings reports. Five investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $129.1818.

A number of equities analysts have issued reports on CHRD shares. Scotiabank began coverage on shares of Chord Energy in a report on Friday, September 19th. They set a “sector perform” rating and a $120.00 price objective on the stock. Pickering Energy Partners lowered shares of Chord Energy from an “outperform” rating to a “neutral” rating in a research report on Friday, January 9th. Morgan Stanley set a $123.00 price objective on shares of Chord Energy in a research report on Thursday, November 20th. Royal Bank Of Canada cut their target price on Chord Energy from $135.00 to $128.00 and set an “outperform” rating on the stock in a research note on Tuesday. Finally, Piper Sandler reduced their target price on Chord Energy from $167.00 to $165.00 and set an “overweight” rating for the company in a report on Tuesday, November 18th.

Chord Energy Stock Performance

Shares of Chord Energy stock opened at $91.94 on Tuesday. The company has a market cap of $5.23 billion, a PE ratio of 35.36 and a beta of 0.92. Chord Energy has a 52 week low of $79.83 and a 52 week high of $128.31. The business has a 50 day moving average price of $92.68 and a 200-day moving average price of $98.39. The company has a quick ratio of 1.28, a current ratio of 1.35 and a debt-to-equity ratio of 0.18.

Chord Energy (NASDAQ:CHRD) last announced its earnings results on Tuesday, November 4th. The company reported $2.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.24 by $0.11. Chord Energy had a return on equity of 8.27% and a net margin of 3.31%.The company had revenue of $1.31 billion for the quarter, compared to analysts’ expectations of $1.02 billion. During the same quarter in the previous year, the firm earned $3.40 earnings per share. Chord Energy’s quarterly revenue was up 17.0% on a year-over-year basis. Equities analysts anticipate that Chord Energy will post 15.59 earnings per share for the current fiscal year.

Chord Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 5th. Shareholders of record on Wednesday, November 19th were paid a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a yield of 5.7%. The ex-dividend date was Wednesday, November 19th. Chord Energy’s dividend payout ratio is 200.00%.

Insider Activity at Chord Energy

In other Chord Energy news, Director Samantha Holroyd bought 1,250 shares of the stock in a transaction dated Friday, November 7th. The shares were bought at an average cost of $85.50 per share, for a total transaction of $106,875.00. Following the purchase, the director directly owned 17,706 shares of the company’s stock, valued at approximately $1,513,863. This trade represents a 7.60% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.70% of the stock is owned by insiders.

Hedge Funds Weigh In On Chord Energy

Several institutional investors have recently added to or reduced their stakes in the stock. Bayforest Capital Ltd purchased a new position in Chord Energy in the 2nd quarter valued at approximately $28,000. WealthCollab LLC lifted its position in shares of Chord Energy by 90.6% during the second quarter. WealthCollab LLC now owns 305 shares of the company’s stock worth $30,000 after acquiring an additional 145 shares in the last quarter. Quent Capital LLC bought a new position in shares of Chord Energy in the third quarter worth $32,000. Mitsubishi UFJ Asset Management Co. Ltd. grew its position in shares of Chord Energy by 91.2% in the second quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 411 shares of the company’s stock valued at $40,000 after purchasing an additional 196 shares in the last quarter. Finally, Pilgrim Partners Asia Pte Ltd purchased a new position in shares of Chord Energy in the third quarter valued at $46,000. Institutional investors 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.