Chord Energy Corporation (NASDAQ:CHRD) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of Chord Energy Corporation (NASDAQ:CHRD) have earned a consensus recommendation of “Moderate Buy” from the thirteen ratings firms that are currently covering the stock, Marketbeat reports. Three research analysts have rated the stock with a hold recommendation and ten have assigned a buy recommendation to the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $138.3846.

Several equities research analysts recently weighed in on the stock. Scotiabank assumed coverage on shares of Chord Energy in a research note on Friday, September 19th. They set a “sector perform” rating and a $120.00 price objective on the stock. Morgan Stanley dropped their price target on Chord Energy from $131.00 to $128.00 and set an “equal weight” rating on the stock in a research report on Tuesday, October 14th. Piper Sandler dropped their price target on Chord Energy from $169.00 to $167.00 and set an “overweight” rating on the stock in a research report on Friday, October 3rd. Citigroup increased their target price on Chord Energy from $120.00 to $125.00 and gave the stock a “buy” rating in a research report on Wednesday, July 9th. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $130.00 target price on shares of Chord Energy in a research report on Monday, October 6th.

Chord Energy Stock Performance

CHRD stock opened at $90.92 on Thursday. The firm has a market cap of $5.21 billion, a P/E ratio of 23.13 and a beta of 0.92. Chord Energy has a 12-month low of $79.83 and a 12-month high of $136.38. The stock’s 50 day simple moving average is $99.25 and its 200 day simple moving average is $99.67. The company has a current ratio of 0.97, a quick ratio of 0.90 and a debt-to-equity ratio of 0.11.

Chord Energy (NASDAQ:CHRD) last issued its earnings results on Wednesday, August 6th. The company reported $1.79 earnings per share for the quarter, missing analysts’ consensus estimates of $1.88 by ($0.09). The business had revenue of $1.18 billion for the quarter, compared to analyst estimates of $984.07 million. Chord Energy had a return on equity of 9.02% and a net margin of 5.02%.The firm’s revenue for the quarter was up 5.3% on a year-over-year basis. During the same period last year, the company posted $4.69 earnings per share. As a group, equities research analysts predict that Chord Energy will post 15.59 EPS for the current year.

Chord Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 8th. Investors of record on Thursday, August 21st were issued a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a dividend yield of 5.7%. The ex-dividend date of this dividend was Thursday, August 21st. Chord Energy’s dividend payout ratio (DPR) is 132.32%.

Insider Buying and Selling at Chord Energy

In other Chord Energy news, EVP Shannon Browning Kinney sold 3,019 shares of the firm’s stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $105.43, for a total value of $318,293.17. Following the sale, the executive vice president owned 14,650 shares in the company, valued at approximately $1,544,549.50. This trade represents a 17.09% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.70% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Chord Energy

Several large investors have recently made changes to their positions in CHRD. AQR Capital Management LLC grew its holdings in Chord Energy by 59.8% during the first quarter. AQR Capital Management LLC now owns 236,436 shares of the company’s stock worth $26,651,000 after acquiring an additional 88,490 shares during the period. Hsbc Holdings PLC grew its stake in shares of Chord Energy by 364.2% in the 1st quarter. Hsbc Holdings PLC now owns 35,795 shares of the company’s stock worth $4,055,000 after purchasing an additional 28,084 shares during the last quarter. Aurora Investment Counsel acquired a new position in shares of Chord Energy in the 1st quarter worth approximately $1,940,000. New York State Teachers Retirement System grew its stake in shares of Chord Energy by 8.4% in the 1st quarter. New York State Teachers Retirement System now owns 29,190 shares of the company’s stock worth $3,290,000 after purchasing an additional 2,263 shares during the last quarter. Finally, ARGA Investment Management LP acquired a new position in shares of Chord Energy in the 1st quarter worth approximately $1,366,000. Institutional investors and hedge funds own 97.76% of the company’s stock.

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.