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

Shares of Chord Energy Co. (NASDAQ:CHRD) have received a consensus recommendation of “Moderate Buy” from the fourteen ratings firms that are covering the stock, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating on the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $173.08.

Several brokerages recently commented on CHRD. UBS Group reduced their price objective on shares of Chord Energy from $168.00 to $161.00 and set a “buy” rating for the company in a research note on Monday, December 9th. Wells Fargo & Company reduced their price objective on shares of Chord Energy from $176.00 to $175.00 and set an “overweight” rating for the company in a research note on Wednesday, January 15th. Morgan Stanley began coverage on shares of Chord Energy in a research note on Friday, January 10th. They set an “equal weight” rating and a $158.00 price objective for the company. Wolfe Research raised shares of Chord Energy from a “peer perform” rating to an “outperform” rating and set a $155.00 price objective for the company in a research note on Friday, January 3rd. Finally, Royal Bank of Canada reduced their price objective on shares of Chord Energy from $185.00 to $180.00 and set an “outperform” rating for the company in a research note on Wednesday, November 20th.

Chord Energy Price Performance

CHRD opened at $117.26 on Tuesday. The company has a market capitalization of $7.17 billion, a price-to-earnings ratio of 6.04, a PEG ratio of 6.35 and a beta of 0.99. The company has a quick ratio of 0.89, a current ratio of 0.93 and a debt-to-equity ratio of 0.10. The firm has a 50-day moving average price of $121.27 and a 200-day moving average price of $135.36. Chord Energy has a twelve month low of $109.59 and a twelve month high of $190.23.

Chord Energy (NASDAQ:CHRD) last issued its quarterly earnings data on Wednesday, November 6th. The company reported $3.40 EPS for the quarter, missing the consensus estimate of $3.63 by ($0.23). The firm had revenue of $1.12 billion for the quarter, compared to analysts’ expectations of $1.26 billion. Chord Energy had a net margin of 19.74% and a return on equity of 12.88%. Chord Energy’s revenue was up 33.4% on a year-over-year basis. During the same period in the prior year, the firm posted $5.04 EPS. Equities analysts expect that Chord Energy will post 15.59 EPS for the current year.

Chord Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Wednesday, November 27th were issued 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 dividend yield of 4.26%. Chord Energy’s payout ratio is 25.75%.

Insider Transactions at Chord Energy

In other news, CAO Shannon Browning Kinney sold 1,000 shares of the business’s 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 approximately $2,267,428.80. The trade was a 4.88 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.70% of the company’s stock.

Institutional Investors Weigh In On Chord Energy

A number of hedge funds have recently made changes to their positions in the business. Thrivent Financial for Lutherans boosted its position in Chord Energy by 45.2% during the 2nd quarter. Thrivent Financial for Lutherans now owns 15,024 shares of the company’s stock valued at $2,519,000 after buying an additional 4,680 shares during the period. Public Sector Pension Investment Board purchased a new stake in Chord Energy during the 2nd quarter valued at $1,409,000. Bank of Montreal Can boosted its position in 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. MBB Public Markets I LLC purchased a new stake in Chord Energy during the 2nd quarter valued at $736,000. Finally, Creative Planning boosted its position in Chord Energy by 85.2% during the 2nd quarter. Creative Planning now owns 14,748 shares of the company’s stock valued at $2,473,000 after buying an additional 6,786 shares during the period. 97.76% of the stock is currently owned by institutional investors.

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.