Chord Energy Co. (NASDAQ:CHRD) Given Consensus Rating of “Moderate Buy” by Brokerages

Shares of Chord Energy Co. (NASDAQ:CHRD) have been assigned a consensus rating of “Moderate Buy” from the thirteen brokerages that are covering the firm, Marketbeat reports. Two research analysts have rated the stock with a hold recommendation, ten have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year target price among brokerages that have covered the stock in the last year is $190.18.

A number of research firms have recently commented on CHRD. Piper Sandler lifted their price target on shares of Chord Energy from $206.00 to $211.00 and gave the company an “overweight” rating in a research report on Tuesday, October 15th. Truist Financial reduced their target price on Chord Energy from $223.00 to $185.00 and set a “buy” rating for the company in a research report on Monday, September 30th. Bank of America lifted their price objective on Chord Energy from $201.00 to $208.00 and gave the company a “buy” rating in a report on Wednesday, August 21st. Wells Fargo & Company cut their price objective on Chord Energy from $185.00 to $180.00 and set an “overweight” rating for the company in a report on Wednesday, October 16th. Finally, UBS Group started coverage on Chord Energy in a research note on Wednesday, October 16th. They issued a “buy” rating and a $168.00 target price for the company.

Insider Activity

In other Chord Energy news, Director Samantha Holroyd bought 500 shares of Chord Energy stock in a transaction that occurred on Friday, August 23rd. The stock was acquired at an average cost of $149.51 per share, for a total transaction of $74,755.00. Following the completion of the transaction, the director now directly owns 14,417 shares in the company, valued at $2,155,485.67. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. 0.70% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Kraematon Investment Advisors Inc. purchased a new stake in shares of Chord Energy in the 2nd quarter worth approximately $4,426,000. Bank of Montreal Can lifted its holdings in shares of Chord Energy by 956.5% during the 2nd quarter. Bank of Montreal Can now owns 58,359 shares of the company’s stock valued at $9,873,000 after buying an additional 52,835 shares during the period. Victory Capital Management Inc. raised its holdings in Chord Energy by 41.3% in the 3rd quarter. Victory Capital Management Inc. now owns 2,245,435 shares of the company’s stock worth $292,423,000 after purchasing an additional 656,374 shares during the period. BOKF NA raised its holdings in Chord Energy by 1,678.3% in the 1st quarter. BOKF NA now owns 15,471 shares of the company’s stock worth $2,751,000 after purchasing an additional 14,601 shares during the period. Finally, Caxton Associates LP bought a new position in Chord Energy in the 2nd quarter worth $2,515,000. Institutional investors own 97.76% of the company’s stock.

Chord Energy Stock Up 0.3 %

Shares of Chord Energy stock opened at $129.05 on Thursday. The company has a current ratio of 0.93, a quick ratio of 0.89 and a debt-to-equity ratio of 0.10. The business’s 50 day simple moving average is $131.48 and its 200-day simple moving average is $155.01. The stock has a market capitalization of $7.89 billion, a price-to-earnings ratio of 6.65, a PEG ratio of 5.05 and a beta of 0.98. Chord Energy has a twelve month low of $123.30 and a twelve month high of $190.23.

Chord Energy (NASDAQ:CHRD) last posted its quarterly earnings data on Wednesday, November 6th. The company reported $3.40 earnings per share for the quarter, missing the consensus estimate of $3.63 by ($0.23). Chord Energy had a net margin of 19.74% and a return on equity of 12.88%. The business had revenue of $1.12 billion for the quarter, compared to the consensus estimate of $1.26 billion. During the same quarter last year, the business posted $5.04 EPS. The business’s revenue for the quarter was up 33.4% on a year-over-year basis. Equities research analysts forecast that Chord Energy will post 16.87 earnings per share for the current year.

Chord Energy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Wednesday, November 27th will be paid a $1.25 dividend. The ex-dividend date is Wednesday, November 27th. This represents a $5.00 annualized dividend and a dividend yield of 3.87%. Chord Energy’s payout ratio is presently 25.75%.

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.