Chord Energy Co. (NASDAQ:CHRD) Receives $173.08 Average Target Price from Analysts

Chord Energy Co. (NASDAQ:CHRD) has been assigned an average rating of “Moderate Buy” from the thirteen ratings firms that are presently covering the firm, Marketbeat Ratings reports. Three analysts have rated the stock with a hold recommendation, nine have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $169.92.

A number of analysts have commented on CHRD shares. Piper Sandler cut their price target on shares of Chord Energy from $194.00 to $193.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 15th. Truist Financial upped their price target on shares of Chord Energy from $185.00 to $186.00 and gave the company a “buy” rating in a research report on Monday, January 13th. Royal Bank of Canada cut their price target on shares of Chord Energy from $185.00 to $180.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 20th. Bank of America reaffirmed a “neutral” rating and set a $138.00 price target (down previously from $208.00) on shares of Chord Energy in a research report on Monday, January 13th. Finally, Mizuho cut their price target on shares of Chord Energy from $192.00 to $178.00 and set an “outperform” rating on the stock in a research report on Monday, December 16th.

Chord Energy Stock Performance

Shares of Chord Energy stock opened at $114.30 on Friday. The company has a quick ratio of 0.89, a current ratio of 0.93 and a debt-to-equity ratio of 0.10. The stock has a market cap of $6.99 billion, a price-to-earnings ratio of 5.89, a P/E/G ratio of 5.83 and a beta of 0.98. The company’s fifty day moving average is $116.36 and its 200 day moving average is $127.06. Chord Energy has a twelve month low of $107.24 and a twelve month high of $190.23.

Chord Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 26th. Stockholders of record on Tuesday, March 11th will be issued a dividend of $1.30 per share. The ex-dividend date is Tuesday, March 11th. This represents a $5.20 annualized dividend and a dividend yield of 4.55%. This is a positive change from Chord Energy’s previous quarterly dividend of $1.25. Chord Energy’s dividend payout ratio is currently 31.37%.

Insider Buying and Selling

In related news, CAO Shannon Browning Kinney sold 1,000 shares of the company’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $116.35, for a total value of $116,350.00. Following the sale, the chief accounting officer now owns 19,488 shares in the company, valued at $2,267,428.80. This represents a 4.88 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.70% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Chord Energy

Institutional investors and hedge funds have recently made changes to their positions in the business. Altshuler Shaham Ltd acquired a new stake in shares of Chord Energy in the 4th quarter worth about $25,000. Stone House Investment Management LLC acquired a new stake in shares of Chord Energy in the 3rd quarter worth about $26,000. Brooklyn Investment Group acquired a new stake in shares of Chord Energy in the 4th quarter worth about $29,000. Twin Tree Management LP acquired a new stake in shares of Chord Energy in the 4th quarter worth about $33,000. Finally, Larson Financial Group LLC increased its stake in Chord Energy by 238.3% in the 4th quarter. Larson Financial Group LLC now owns 318 shares of the company’s stock valued at $37,000 after buying an additional 224 shares during the last quarter. Institutional investors and hedge funds own 97.76% of the company’s stock.

Chord Energy Company Profile

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.