Chord Energy (NASDAQ:CHRD) Coverage Initiated by Analysts at Citigroup

Citigroup began coverage on shares of Chord Energy (NASDAQ:CHRD) in a research note published on Monday, MarketBeat.com reports. The firm issued a buy rating and a $195.00 price target on the stock.

A number of other equities research analysts have also weighed in on the company. Bank of America reaffirmed a buy rating and set a $201.00 target price on shares of Chord Energy in a research report on Friday, June 14th. BMO Capital Markets initiated coverage on Chord Energy in a research report on Monday, June 3rd. They issued an outperform rating and a $230.00 price target for the company. Royal Bank of Canada boosted their price target on Chord Energy from $180.00 to $200.00 and gave the stock an outperform rating in a research report on Monday, April 29th. Mizuho boosted their price target on Chord Energy from $195.00 to $214.00 and gave the stock a buy rating in a research report on Monday, May 13th. Finally, Piper Sandler upped their target price on Chord Energy from $231.00 to $233.00 and gave the company an overweight rating in a research report on Friday, May 24th. One equities research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, Chord Energy currently has a consensus rating of Moderate Buy and an average price target of $205.00.

Chord Energy Trading Up 1.2 %

Shares of NASDAQ CHRD opened at $169.66 on Monday. The company has a quick ratio of 1.07, a current ratio of 1.14 and a debt-to-equity ratio of 0.08. The business has a fifty day simple moving average of $175.38 and a two-hundred day simple moving average of $169.11. The firm has a market cap of $7.07 billion, a PE ratio of 7.96, a price-to-earnings-growth ratio of 0.87 and a beta of 1.01. Chord Energy has a twelve month low of $145.06 and a twelve month high of $190.23.

Chord Energy (NASDAQ:CHRD) last issued its earnings results on Tuesday, May 7th. The company reported $5.10 earnings per share for the quarter, beating analysts’ consensus estimates of $4.75 by $0.35. The business had revenue of $1.09 billion during the quarter, compared to analyst estimates of $771.87 million. Chord Energy had a return on equity of 16.57% and a net margin of 22.67%. Chord Energy’s revenue was up 24.8% on a year-over-year basis. During the same period in the previous year, the company posted $4.50 EPS. Analysts expect that Chord Energy will post 22.27 earnings per share for the current fiscal year.

Chord Energy Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 5th. Shareholders of record on Wednesday, May 22nd were paid a dividend of $2.94 per share. The ex-dividend date of this dividend was Tuesday, May 21st. This represents a $11.76 annualized dividend and a yield of 6.93%. Chord Energy’s payout ratio is presently 23.46%.

Institutional Trading of Chord Energy

Several large investors have recently added to or reduced their stakes in the company. Xponance Inc. grew its stake in Chord Energy by 1.3% during the 4th quarter. Xponance Inc. now owns 6,070 shares of the company’s stock valued at $1,009,000 after purchasing an additional 77 shares during the last quarter. Contravisory Investment Management Inc. grew its stake in Chord Energy by 48.9% during the 4th quarter. Contravisory Investment Management Inc. now owns 259 shares of the company’s stock valued at $43,000 after purchasing an additional 85 shares during the last quarter. Fortem Financial Group LLC grew its stake in Chord Energy by 1.6% during the 1st quarter. Fortem Financial Group LLC now owns 5,958 shares of the company’s stock valued at $1,062,000 after purchasing an additional 91 shares during the last quarter. Viking Fund Management LLC grew its stake in Chord Energy by 40.0% during the 4th quarter. Viking Fund Management LLC now owns 350 shares of the company’s stock valued at $58,000 after purchasing an additional 100 shares during the last quarter. Finally, New York State Teachers Retirement System grew its stake in Chord Energy by 0.6% during the 1st quarter. New York State Teachers Retirement System now owns 15,792 shares of the company’s stock valued at $2,815,000 after purchasing an additional 100 shares during the last quarter. Hedge funds and other institutional investors 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.