Brokerages Set Chord Energy Co. (NASDAQ:CHRD) Target Price at $190.18

Shares of Chord Energy Co. (NASDAQ:CHRD) have earned a consensus recommendation of “Moderate Buy” from the thirteen analysts that are covering the stock, Marketbeat reports. Two research analysts have rated the stock with a hold recommendation, ten have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $190.18.

CHRD has been the topic of several analyst reports. Piper Sandler lifted their target price on Chord Energy from $206.00 to $211.00 and gave the company an “overweight” rating in a research note on Tuesday, October 15th. Truist Financial reduced their price objective on shares of Chord Energy from $223.00 to $185.00 and set a “buy” rating for the company in a research note on Monday, September 30th. Citigroup lowered their target price on shares of Chord Energy from $195.00 to $180.00 and set a “buy” rating for the company in a research note on Monday, August 12th. Wells Fargo & Company cut their price target on shares of Chord Energy from $185.00 to $180.00 and set an “overweight” rating on the stock in a report on Wednesday, October 16th. Finally, UBS Group began coverage on Chord Energy in a report on Wednesday, October 16th. They set a “buy” rating and a $168.00 price objective for the company.

Chord Energy Trading Down 2.8 %

NASDAQ:CHRD opened at $127.28 on Thursday. The firm has a 50-day simple moving average of $131.20 and a 200-day simple moving average of $154.29. Chord Energy has a one year low of $123.30 and a one year high of $190.23. The firm has a market cap of $7.78 billion, a P/E ratio of 6.55, a P/E/G ratio of 5.07 and a beta of 0.98. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.89 and a current ratio of 0.93.

Chord Energy (NASDAQ:CHRD) last issued its quarterly earnings data on Wednesday, November 6th. The company reported $3.40 EPS for the quarter, missing analysts’ consensus estimates of $3.63 by ($0.23). The business had revenue of $1.12 billion during the quarter, compared to the consensus estimate of $1.26 billion. Chord Energy had a return on equity of 12.88% and a net margin of 19.74%. The business’s quarterly revenue was up 33.4% on a year-over-year basis. During the same period last year, the firm earned $5.04 EPS. Equities analysts anticipate that Chord Energy will post 16.87 EPS for the current fiscal year.

Chord Energy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Wednesday, November 27th will be given a dividend of $1.25 per share. The ex-dividend date is Wednesday, November 27th. This represents a $5.00 dividend on an annualized basis and a yield of 3.93%. Chord Energy’s dividend payout ratio is currently 25.75%.

Insider Activity

In other Chord Energy news, Director Samantha Holroyd acquired 500 shares of the company’s stock in a transaction dated Friday, August 23rd. The shares were acquired at an average cost of $149.51 per share, with a total value of $74,755.00. Following the acquisition, the director now directly owns 14,417 shares of the company’s stock, valued at approximately $2,155,485.67. The trade was a 3.59 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 0.70% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Victory Capital Management Inc. grew its holdings in Chord Energy by 397.5% in the second quarter. Victory Capital Management Inc. now owns 1,589,061 shares of the company’s stock valued at $266,454,000 after purchasing an additional 1,269,658 shares during the period. Pacer Advisors Inc. lifted its position in shares of Chord Energy by 8,762.1% during the 3rd quarter. Pacer Advisors Inc. now owns 1,245,034 shares of the company’s stock valued at $162,141,000 after buying an additional 1,230,985 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in Chord Energy by 72.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,771,780 shares of the company’s stock valued at $297,090,000 after acquiring an additional 741,705 shares during the period. Boston Partners lifted its holdings in Chord Energy by 107.0% during the first quarter. Boston Partners now owns 1,305,942 shares of the company’s stock valued at $232,813,000 after purchasing an additional 674,965 shares in the last quarter. Finally, Point72 Asset Management L.P. grew its position in shares of Chord Energy by 143.8% in the third quarter. Point72 Asset Management L.P. now owns 880,787 shares of the company’s stock valued at $114,705,000 after purchasing an additional 519,547 shares during the period. 97.76% of the stock is currently owned by institutional investors and hedge funds.

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.