Chord Energy Corporation (NASDAQ:CHRD) Stock Now Rated “Moderate Buy” by Wall Street Analysts

Chord Energy Corporation (NASDAQ:CHRD) has earned an average recommendation of “Moderate Buy” from the seventeen analysts that are currently covering the stock, Marketbeat.com reports. Six research analysts have rated the stock with a hold recommendation, ten have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $165.54.

Several brokerages have weighed in on CHRD. Jefferies Financial Group upped their target price on Chord Energy from $133.00 to $150.00 and gave the stock a “hold” rating in a research report on Friday, September 18th. Roth Capital reiterated a “buy” rating and set a $145.00 price target on shares of Chord Energy in a report on Wednesday, July 15th. BMO Capital Markets restated an “outperform” rating on shares of Chord Energy in a report on Monday, June 29th. Citigroup increased their price objective on Chord Energy from $130.00 to $150.00 and gave the stock a “neutral” rating in a report on Thursday, September 17th. Finally, Weiss Ratings upgraded shares of Chord Energy from a “hold (c-)” rating to a “hold (c+)” rating in a research note on Tuesday, August 11th.

Insider Activity at Chord Energy

In related news, EVP Shannon Kinney sold 4,019 shares of Chord Energy stock in a transaction on Tuesday, August 11th. The shares were sold at an average price of $140.00, for a total value of $562,660.00. Following the completion of the sale, the executive vice president owned 13,560 shares of the company’s stock, valued at approximately $1,898,400. The trade was a 22.86% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Samantha Mckinney sold 9,750 shares of the company’s stock in a transaction on Tuesday, September 1st. The stock was sold at an average price of $149.94, for a total transaction of $1,461,915.00. Following the completion of the sale, the director owned 7,280 shares of the company’s stock, valued at $1,091,563.20. This represents a 57.25% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 23,969 shares of company stock valued at $3,389,599. Insiders own 0.79% of the company’s stock.

Institutional Trading of Chord Energy

Institutional investors and hedge funds have recently made changes to their positions in the stock. Dimensional Fund Advisors LP increased its holdings in shares of Chord Energy by 27.1% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,547,732 shares of the company’s stock valued at $220,078,000 after acquiring an additional 329,565 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Chord Energy by 15.6% in the 4th quarter. Geode Capital Management LLC now owns 2,053,045 shares of the company’s stock worth $190,346,000 after purchasing an additional 277,588 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its position in Chord Energy by 1.0% during the first quarter. Allspring Global Investments Holdings LLC now owns 734,416 shares of the company’s stock worth $100,586,000 after purchasing an additional 7,250 shares during the period. First Trust Advisors LP boosted its position in Chord Energy by 98.2% during the first quarter. First Trust Advisors LP now owns 579,920 shares of the company’s stock worth $82,453,000 after purchasing an additional 287,340 shares during the period. Finally, Bank of New York Mellon Corp acquired a new position in Chord Energy during the second quarter valued at approximately $66,489,000. Institutional investors and hedge funds own 97.76% of the company’s stock.

Chord Energy Trading Up 1.7%

Shares of NASDAQ:CHRD opened at $140.02 on Friday. The firm has a fifty day moving average of $141.51 and a two-hundred day moving average of $135.62. The company has a quick ratio of 1.15, a current ratio of 1.22 and a debt-to-equity ratio of 0.18. Chord Energy has a 12-month low of $84.25 and a 12-month high of $157.06. The firm has a market capitalization of $7.66 billion, a P/E ratio of 9.38 and a beta of 0.50.

Chord Energy (NASDAQ:CHRD) last posted its quarterly earnings results on Wednesday, August 5th. The company reported $6.44 earnings per share for the quarter, missing analysts’ consensus estimates of $6.55 by ($0.11). Chord Energy had a return on equity of 10.18% and a net margin of 13.42%.The company had revenue of $2.17 billion during the quarter, compared to analyst estimates of $1.62 billion. During the same period last year, the company posted $1.79 earnings per share. The company’s revenue was up 128.6% compared to the same quarter last year. On average, equities analysts expect that Chord Energy will post 20.5 EPS for the current fiscal year.

Chord Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, September 4th. Stockholders of record on Thursday, August 20th were issued a dividend of $1.30 per share. The ex-dividend date was Thursday, August 20th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 3.7%. Chord Energy’s dividend payout ratio (DPR) is currently 34.85%.

About Chord Energy

Chord Energy Corporation (NASDAQ: CHRD) is an independent exploration and production company focused on developing and producing oil, natural gas and natural gas liquids. Its operations are concentrated in the Williston Basin, primarily across the Bakken and Three Forks formations in North Dakota and Montana.

The company’s activities include acquiring acreage, drilling and completing wells, and managing the production and sale of hydrocarbons. Chord’s portfolio is weighted toward crude oil, with associated natural gas and natural gas liquids contributing to its production mix.

Chord Energy was formed through the 2022 combination of Oasis Petroleum and Whiting Petroleum, two companies with established operations in the Williston Basin.