Analysts Set Chord Energy Corporation (NASDAQ:CHRD) Price Target at $155.92

Shares of Chord Energy Corporation (NASDAQ:CHRD) have been given a consensus recommendation of “Moderate Buy” by the sixteen analysts that are presently covering the stock, MarketBeat reports. Five investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $152.00.

A number of research firms have weighed in on CHRD. Truist Financial dropped their price target on shares of Chord Energy from $185.00 to $170.00 and set a “buy” rating for the company in a research report on Tuesday, July 7th. Morgan Stanley decreased their target price on Chord Energy from $175.00 to $169.00 and set an “overweight” rating on the stock in a research note on Monday, June 29th. Citigroup decreased their price target on shares of Chord Energy from $155.00 to $130.00 and set a “neutral” rating on the stock in a research note on Friday. Wells Fargo & Company increased their price objective on shares of Chord Energy from $136.00 to $175.00 and gave the company an “overweight” rating in a report on Wednesday, April 8th. Finally, BMO Capital Markets restated an “outperform” rating on shares of Chord Energy in a research report on Monday, June 29th.

Insider Activity at Chord Energy

In other Chord Energy news, COO Darrin J. Henke sold 1,276 shares of Chord Energy stock in a transaction that occurred on Friday, May 15th. The stock was sold at an average price of $145.97, for a total value of $186,257.72. Following the sale, the chief operating officer owned 21,157 shares of the company’s stock, valued at $3,088,287.29. The trade was a 5.69% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Douglas E. Brooks sold 3,500 shares of the company’s stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $136.71, for a total value of $478,485.00. Following the sale, the director directly owned 20,205 shares in the company, valued at $2,762,225.55. This trade represents a 14.76% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 9,276 shares of company stock valued at $1,285,968 in the last 90 days. 0.79% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Chord Energy

A number of hedge funds have recently bought and sold shares of the business. Assenagon Asset Management S.A. bought a new position in Chord Energy during the second quarter valued at $24,670,000. GAMMA Investing LLC increased its holdings in shares of Chord Energy by 14.4% in the 2nd quarter. GAMMA Investing LLC now owns 1,618 shares of the company’s stock worth $185,000 after buying an additional 204 shares during the last quarter. Versant Capital Management Inc increased its holdings in shares of Chord Energy by 330.9% in the 2nd quarter. Versant Capital Management Inc now owns 237 shares of the company’s stock worth $27,000 after buying an additional 182 shares during the last quarter. Parallel Advisors LLC raised its position in shares of Chord Energy by 13.8% during the 1st quarter. Parallel Advisors LLC now owns 2,035 shares of the company’s stock valued at $289,000 after buying an additional 246 shares in the last quarter. Finally, NewEdge Advisors LLC raised its position in shares of Chord Energy by 14.6% during the 1st quarter. NewEdge Advisors LLC now owns 3,244 shares of the company’s stock valued at $461,000 after buying an additional 414 shares in the last quarter. Hedge funds and other institutional investors own 97.76% of the company’s stock.

Chord Energy Stock Performance

Shares of CHRD opened at $122.36 on Tuesday. The company has a quick ratio of 0.96, a current ratio of 1.02 and a debt-to-equity ratio of 0.18. The business has a 50-day simple moving average of $131.45 and a two-hundred day simple moving average of $120.11. The stock has a market cap of $6.89 billion, a price-to-earnings ratio of -108.28 and a beta of 0.49. Chord Energy has a 52 week low of $84.25 and a 52 week high of $151.95.

Chord Energy (NASDAQ:CHRD) last posted its quarterly earnings data on Tuesday, May 5th. The company reported $4.56 EPS for the quarter, topping the consensus estimate of $3.51 by $1.05. The firm had revenue of $1.67 billion for the quarter, compared to the consensus estimate of $1.21 billion. Chord Energy had a positive return on equity of 7.06% and a negative net margin of 1.25%.The business’s revenue for the quarter was up 37.1% compared to the same quarter last year. During the same quarter last year, the company earned $4.04 earnings per share. On average, analysts expect that Chord Energy will post 18.13 EPS for the current year.

Chord Energy Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 5th. Investors of record on Wednesday, May 20th were paid a dividend of $1.30 per share. The ex-dividend date of this dividend was Wednesday, May 20th. This represents a $5.20 dividend on an annualized basis and a yield of 4.2%. Chord Energy’s dividend payout ratio is presently -460.18%.

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.