Chord Energy Corporation (NASDAQ:CHRD) Given Average Rating of “Moderate Buy” by Analysts

Chord Energy Corporation (NASDAQ:CHRD) has earned a consensus recommendation of “Moderate Buy” from the sixteen ratings firms that are currently covering the company, MarketBeat reports. Five equities research analysts have rated the stock with a hold recommendation and eleven have assigned a buy recommendation to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $155.9231.

Several analysts have recently commented on the stock. BMO Capital Markets reaffirmed an “outperform” rating on shares of Chord Energy in a research report on Monday, June 29th. Williams Trading set a $189.00 price target on shares of Chord Energy in a research note on Monday, April 20th. Wells Fargo & Company raised their price objective on shares of Chord Energy from $136.00 to $175.00 and gave the company an “overweight” rating in a research note on Wednesday, April 8th. Citigroup boosted their price target on shares of Chord Energy from $120.00 to $155.00 and gave the stock a “neutral” rating in a research note on Tuesday, March 31st. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Chord Energy in a research report on Friday, June 12th.

Chord Energy Price Performance

CHRD traded up $2.34 on Tuesday, reaching $113.93. 30,946 shares of the company’s stock were exchanged, compared to its average volume of 927,797. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.02 and a quick ratio of 0.96. The stock’s fifty day moving average price is $133.61 and its 200-day moving average price is $119.12. The stock has a market cap of $6.41 billion, a PE ratio of -101.22 and a beta of 0.49. Chord Energy has a twelve month low of $84.25 and a twelve month high of $151.95.

Chord Energy (NASDAQ:CHRD) last announced its quarterly earnings data on Tuesday, May 5th. The company reported $4.56 EPS for the quarter, topping analysts’ consensus estimates of $3.51 by $1.05. Chord Energy had a positive return on equity of 7.06% and a negative net margin of 1.25%.The firm had revenue of $1.67 billion for the quarter, compared to the consensus estimate of $1.21 billion. During the same quarter last year, the business posted $4.04 earnings per share. The firm’s revenue was up 37.1% compared to the same quarter last year. Sell-side analysts expect that Chord Energy will post 19.13 EPS for the current year.

Chord Energy Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 5th. Shareholders of record on Wednesday, May 20th were issued a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a yield of 4.6%. The ex-dividend date was Wednesday, May 20th. Chord Energy’s payout ratio is -460.18%.

Insider Buying and Selling

In other news, COO Darrin J. Henke sold 1,276 shares of the firm’s stock in a transaction on Friday, May 15th. The shares were sold at an average price of $145.97, for a total value of $186,257.72. Following the sale, the chief operating officer directly owned 21,157 shares in the company, valued at approximately $3,088,287.29. This trade represents a 5.69% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Douglas E. Brooks sold 1,500 shares of the stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $138.57, for a total value of $207,855.00. Following the completion of the transaction, the director owned 18,705 shares in the company, valued at approximately $2,591,951.85. The trade was a 7.42% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 9,276 shares of company stock worth $1,285,968. Insiders own 0.79% of the company’s stock.

Hedge Funds Weigh In On Chord Energy

Institutional investors have recently modified their holdings of the business. Bessemer Group Inc. raised its holdings in Chord Energy by 63.8% in the first quarter. Bessemer Group Inc. now owns 190 shares of the company’s stock valued at $27,000 after acquiring an additional 74 shares in the last quarter. Blue Trust Inc. lifted its holdings in Chord Energy by 22.2% in the first quarter. Blue Trust Inc. now owns 463 shares of the company’s stock worth $66,000 after acquiring an additional 84 shares during the last quarter. SBI Securities Co. Ltd. lifted its holdings in shares of Chord Energy by 16.5% in the 4th quarter. SBI Securities Co. Ltd. now owns 797 shares of the company’s stock worth $74,000 after purchasing an additional 113 shares during the last quarter. WealthCollab LLC boosted its position in Chord Energy by 90.6% during the 2nd quarter. WealthCollab LLC now owns 305 shares of the company’s stock valued at $30,000 after purchasing an additional 145 shares during the period. Finally, Root Financial Partners LLC lifted its position in Chord Energy by 178.6% in the 1st quarter. Root Financial Partners LLC now owns 234 shares of the company’s stock valued at $33,000 after purchasing an additional 150 shares during the last quarter. 97.76% of the stock is owned by institutional investors and hedge funds.

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.