Analysts Set Chord Energy Co. (NASDAQ:CHRD) PT at $206.78

Shares of Chord Energy Co. (NASDAQ:CHRD) have earned a consensus rating of “Moderate Buy” from the ten research firms that are currently covering the stock, Marketbeat reports. One analyst has rated the stock with a hold recommendation and nine have given a buy recommendation to the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $206.78.

Several analysts recently weighed in on CHRD shares. Wolfe Research assumed coverage on shares of Chord Energy in a report on Thursday, July 18th. They issued a “peer perform” rating on the stock. BMO Capital Markets began coverage on shares of Chord Energy in a research note on Monday, June 3rd. They set an “outperform” rating and a $230.00 target price on the stock. Piper Sandler cut their price objective on Chord Energy from $234.00 to $206.00 and set an “overweight” rating on the stock in a research report on Thursday, August 15th. Citigroup reduced their target price on Chord Energy from $195.00 to $180.00 and set a “buy” rating on the stock in a report on Monday, August 12th. Finally, Truist Financial dropped their price target on Chord Energy from $226.00 to $223.00 and set a “buy” rating on the stock in a research report on Monday, July 22nd.

Chord Energy Stock Performance

Shares of NASDAQ CHRD opened at $148.43 on Friday. The stock’s 50-day moving average is $162.38 and its 200 day moving average is $169.90. The stock has a market cap of $6.19 billion, a price-to-earnings ratio of 6.97, a P/E/G ratio of 0.88 and a beta of 1.01. Chord Energy has a 1-year low of $145.35 and a 1-year high of $190.23. The company has a current ratio of 0.96, a quick ratio of 0.91 and a debt-to-equity ratio of 0.11.

Chord Energy (NASDAQ:CHRD) last released its earnings results on Wednesday, August 7th. The company reported $4.69 earnings per share for the quarter, missing analysts’ consensus estimates of $5.00 by ($0.31). The company had revenue of $902.70 million during the quarter, compared to the consensus estimate of $982.43 million. Chord Energy had a net margin of 20.83% and a return on equity of 15.06%. The company’s revenue was up 29.8% on a year-over-year basis. During the same period last year, the firm posted $3.65 EPS. On average, sell-side analysts anticipate that Chord Energy will post 19.61 EPS for the current fiscal year.

Chord Energy Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 5th. Stockholders of record on Wednesday, August 21st will be paid a $1.25 dividend. This represents a $5.00 annualized dividend and a dividend yield of 3.37%. The ex-dividend date of this dividend is Wednesday, August 21st. Chord Energy’s dividend payout ratio is currently 23.46%.

Insider Activity

In other Chord Energy news, Director Samantha Holroyd acquired 500 shares of the company’s stock in a transaction that occurred on Friday, August 23rd. The shares were bought at an average cost of $149.51 per share, with a total value of $74,755.00. Following the completion of the transaction, the director now directly owns 14,417 shares of the company’s stock, valued at approximately $2,155,485.67. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.70% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of CHRD. Victory Capital Management Inc. lifted its stake in shares of Chord Energy by 397.5% in the 2nd quarter. Victory Capital Management Inc. now owns 1,589,061 shares of the company’s stock worth $266,454,000 after purchasing an additional 1,269,658 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of Chord Energy by 72.0% in the second quarter. Dimensional Fund Advisors LP now owns 1,771,780 shares of the company’s stock worth $297,090,000 after buying an additional 741,705 shares during the period. Boston Partners lifted its position in shares of Chord Energy by 107.0% during the 1st quarter. Boston Partners now owns 1,305,942 shares of the company’s stock valued at $232,813,000 after buying an additional 674,965 shares in the last quarter. Millennium Management LLC lifted its position in shares of Chord Energy by 226.5% during the 2nd quarter. Millennium Management LLC now owns 696,488 shares of the company’s stock valued at $116,787,000 after buying an additional 483,144 shares in the last quarter. Finally, KGH Ltd grew its stake in shares of Chord Energy by 872.0% during the 2nd quarter. KGH Ltd now owns 485,998 shares of the company’s stock valued at $81,492,000 after acquiring an additional 435,998 shares during the period. 97.76% of the stock is owned by hedge funds and other institutional investors.

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.