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

Shares of Chord Energy Co. (NASDAQ:CHRD) have been given an average recommendation of “Moderate Buy” by the thirteen brokerages that are currently covering the stock, MarketBeat Ratings reports. Two analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. The average 12 month target price among brokerages that have covered the stock in the last year is $188.45.

CHRD has been the subject of several recent research reports. Truist Financial cut their price target on Chord Energy from $223.00 to $185.00 and set a “buy” rating for the company in a report on Monday, September 30th. Siebert Williams Shank raised Chord Energy to a “strong-buy” rating in a research report on Tuesday, October 15th. Wells Fargo & Company lowered their price target on shares of Chord Energy from $185.00 to $180.00 and set an “overweight” rating on the stock in a report on Wednesday, October 16th. Jefferies Financial Group assumed coverage on Chord Energy in a research report on Thursday, September 5th. They set a “hold” rating and a $160.00 target price for the company. Finally, BMO Capital Markets lowered their price target on Chord Energy from $205.00 to $175.00 and set an “outperform” rating on the stock in a research report on Friday, October 4th.

Insider Activity

In other news, Director Samantha Holroyd acquired 500 shares of the firm’s stock in a transaction that occurred on Friday, August 23rd. The stock was purchased at an average price of $149.51 per share, for a total transaction of $74,755.00. Following the completion of the acquisition, the director now owns 14,417 shares in the company, valued at $2,155,485.67. This trade represents a 3.59 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.70% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Chord Energy

Hedge funds and other institutional investors have recently made changes to their positions in the company. Hexagon Capital Partners LLC raised its stake in Chord Energy by 462.9% during the 3rd 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 period. Stone House Investment Management LLC bought a new stake in shares of Chord Energy in the third quarter worth about $26,000. UMB Bank n.a. raised its position in shares of Chord Energy by 77.7% during the third quarter. UMB Bank n.a. now owns 231 shares of the company’s stock worth $30,000 after purchasing an additional 101 shares during the period. Spartan Fund Management Inc. bought 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 during the 2nd quarter valued at about $40,000. 97.76% of the stock is owned by institutional investors.

Chord Energy Stock Performance

CHRD opened at $129.84 on Thursday. Chord Energy has a 12-month low of $123.30 and a 12-month high of $190.23. 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 market capitalization of $7.94 billion, a P/E ratio of 6.69, a price-to-earnings-growth ratio of 5.02 and a beta of 0.98. The stock’s 50 day moving average price is $131.00 and its two-hundred day moving average price is $153.33.

Chord Energy (NASDAQ:CHRD) last issued its quarterly earnings results on Wednesday, November 6th. The company reported $3.40 earnings per share 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 the consensus estimate 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 for the quarter was up 33.4% on a year-over-year basis. During the same period last year, the company earned $5.04 earnings per share. On average, equities analysts forecast that Chord Energy will post 16.8 earnings per share for the current year.

Chord Energy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Wednesday, November 27th will be given a dividend of $1.25 per share. The ex-dividend date of this dividend is Wednesday, November 27th. This represents a $5.00 annualized dividend and a dividend yield of 3.85%. Chord Energy’s payout ratio 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.