Chord Energy Co. (NASDAQ:CHRD) Receives $182.55 Consensus Target Price from Brokerages

Shares of Chord Energy Co. (NASDAQ:CHRD) have been given a consensus rating of “Buy” by the thirteen analysts that are presently covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $180.25.

A number of brokerages recently weighed in on CHRD. Mizuho dropped their price target on Chord Energy from $192.00 to $178.00 and set an “outperform” rating on the stock in a research note on Monday, December 16th. Truist Financial dropped their target price on shares of Chord Energy from $223.00 to $185.00 and set a “buy” rating on the stock in a research report on Monday, September 30th. Royal Bank of Canada reduced their price target on shares of Chord Energy from $185.00 to $180.00 and set an “outperform” rating for the company in a research report on Wednesday, November 20th. Wolfe Research upgraded shares of Chord Energy from a “peer perform” rating to an “outperform” rating and set a $155.00 price objective on the stock in a research report on Friday. Finally, Piper Sandler reduced their target price on Chord Energy from $212.00 to $194.00 and set an “overweight” rating for the company in a report on Tuesday, December 17th.

Insiders Place Their Bets

In other Chord Energy news, CAO Shannon Browning Kinney sold 1,000 shares of Chord Energy stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $116.35, for a total value of $116,350.00. Following the completion of the sale, the chief accounting officer now directly owns 19,488 shares in the company, valued at $2,267,428.80. The trade was a 4.88 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.70% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of CHRD. Hexagon Capital Partners LLC increased its position in Chord Energy by 462.9% during the third quarter. Hexagon Capital Partners LLC now owns 197 shares of the company’s stock worth $26,000 after buying an additional 162 shares during the last quarter. Stone House Investment Management LLC bought a new stake in shares of Chord Energy during the 3rd quarter worth about $26,000. UMB Bank n.a. boosted its stake in shares of Chord Energy by 77.7% during the 3rd quarter. UMB Bank n.a. now owns 231 shares of the company’s stock worth $30,000 after acquiring an additional 101 shares in the last quarter. Spartan Fund Management Inc. acquired a new position in shares of Chord Energy during the 3rd quarter valued at about $34,000. Finally, Ashton Thomas Private Wealth LLC bought a new position in shares of Chord Energy in the 2nd quarter valued at approximately $40,000. Institutional investors own 97.76% of the company’s stock.

Chord Energy Trading Up 1.7 %

Shares of NASDAQ:CHRD opened at $120.95 on Friday. The stock has a market capitalization of $7.39 billion, a price-to-earnings ratio of 6.23, a PEG ratio of 4.79 and a beta of 0.96. Chord Energy has a 1-year low of $109.59 and a 1-year high of $190.23. The company has a 50 day moving average price of $122.86 and a 200 day moving average price of $140.68. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.89 and a current ratio of 0.93.

Chord Energy (NASDAQ:CHRD) last issued its earnings results on Wednesday, November 6th. The company reported $3.40 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.63 by ($0.23). The company had revenue of $1.12 billion during the quarter, compared to analyst estimates of $1.26 billion. Chord Energy had a return on equity of 12.88% and a net margin of 19.74%. The business’s revenue was up 33.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $5.04 earnings per share. On average, research analysts anticipate that Chord Energy will post 16.5 EPS for the current fiscal year.

Chord Energy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Wednesday, November 27th were paid a $1.25 dividend. The ex-dividend date of this dividend was Wednesday, November 27th. This represents a $5.00 dividend on an annualized basis and a yield of 4.13%. Chord Energy’s dividend payout ratio (DPR) is currently 25.75%.

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.