Chord Energy Corporation (NASDAQ:CHRD) Receives $152.54 Average PT from Analysts

Shares of Chord Energy Corporation (NASDAQ:CHRD) have earned a consensus rating of “Moderate Buy” from the sixteen brokerages that are covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $152.5385.

CHRD has been the topic of several research analyst reports. Wells Fargo & Company decreased their price target on Chord Energy from $175.00 to $163.00 and set an “overweight” rating on the stock in a research note on Thursday, August 13th. Wall Street Zen cut Chord Energy from a “strong-buy” rating to a “buy” rating in a report on Saturday, June 27th. 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 report on Monday, June 29th. BMO Capital Markets reissued an “outperform” rating on shares of Chord Energy in a report on Monday, June 29th. Finally, Citigroup dropped their price target on Chord Energy from $155.00 to $130.00 and set a “neutral” rating for the company in a research report on Friday, July 10th.

Insider Transactions at Chord Energy

In related news, Director Samantha Mckinney sold 2,200 shares of the stock in a transaction on Monday, August 10th. The stock was sold at an average price of $136.32, for a total transaction of $299,904.00. Following the sale, the director owned 17,030 shares of the company’s stock, valued at $2,321,529.60. This trade represents a 11.44% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Douglas E. Brooks sold 8,000 shares of Chord Energy stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $133.14, for a total value of $1,065,120.00. Following the sale, the director owned 10,705 shares of the company’s stock, valued at approximately $1,425,263.70. This represents a 42.77% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 14,219 shares of company stock valued at $1,927,684 over the last three months. 0.79% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Chord Energy

Hedge funds have recently modified their holdings of the company. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of Chord Energy by 17.1% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 123,964 shares of the company’s stock valued at $13,973,000 after buying an additional 18,137 shares during the last quarter. Focus Partners Wealth acquired a new stake in Chord Energy during the first quarter worth about $289,000. EverSource Wealth Advisors LLC increased its stake in Chord Energy by 364.2% during the second quarter. EverSource Wealth Advisors LLC now owns 1,555 shares of the company’s stock worth $151,000 after acquiring an additional 1,220 shares during the last quarter. Jump Financial LLC purchased a new position in shares of Chord Energy in the 2nd quarter worth about $1,010,000. Finally, Gamco Investors INC. ET AL raised its holdings in shares of Chord Energy by 108.5% in the 2nd quarter. Gamco Investors INC. ET AL now owns 10,429 shares of the company’s stock worth $1,010,000 after purchasing an additional 5,428 shares during the period. 97.76% of the stock is owned by institutional investors and hedge funds.

Chord Energy Stock Performance

Shares of CHRD stock opened at $146.00 on Wednesday. The company has a market cap of $7.99 billion, a price-to-earnings ratio of 9.79 and a beta of 0.48. The stock has a 50 day simple moving average of $130.78 and a 200-day simple moving average of $130.07. Chord Energy has a 12-month low of $84.25 and a 12-month high of $153.00. The company has a current ratio of 1.22, a quick ratio of 1.15 and a debt-to-equity ratio of 0.18.

Chord Energy (NASDAQ:CHRD) last posted its quarterly earnings results on Wednesday, August 5th. The company reported $6.44 EPS for the quarter, missing the consensus estimate of $6.55 by ($0.11). Chord Energy had a net margin of 13.42% and a return on equity of 10.18%. The business had revenue of $2.17 billion during the quarter, compared to analyst estimates of $1.62 billion. During the same period in the prior year, the business earned $1.79 earnings per share. The firm’s quarterly revenue was up 128.6% compared to the same quarter last year. On average, equities analysts forecast that Chord Energy will post 18.61 EPS for the current year.

Chord Energy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, September 4th. Shareholders of record on Thursday, August 20th will be issued a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date is Thursday, August 20th. Chord Energy’s dividend payout ratio is 34.85%.

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.