Chord Energy Co. (NASDAQ:CHRD) Receives Average Recommendation of “Moderate Buy” from Brokerages

Chord Energy Co. (NASDAQ:CHRD) has received a consensus rating of “Moderate Buy” from the thirteen ratings firms that are currently covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, two have issued a hold recommendation, nine have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $157.00.

Several analysts have recently weighed in on CHRD shares. Truist Financial raised their target price on Chord Energy from $185.00 to $186.00 and gave the company a “buy” rating in a research note on Monday, January 13th. Piper Sandler cut their target price on Chord Energy from $193.00 to $184.00 and set an “overweight” rating on the stock in a research report on Thursday, March 6th. Morgan Stanley set a $139.00 price target on shares of Chord Energy and gave the stock a “cautious” rating in a research report on Wednesday, March 26th. Williams Trading set a $155.00 price target on shares of Chord Energy in a report on Wednesday, March 5th. Finally, Royal Bank of Canada decreased their price objective on shares of Chord Energy from $165.00 to $145.00 and set an “outperform” rating for the company in a report on Friday, April 11th.

Chord Energy Price Performance

CHRD opened at $94.43 on Friday. Chord Energy has a twelve month low of $79.83 and a twelve month high of $188.02. The firm has a market cap of $5.62 billion, a price-to-earnings ratio of 4.86, a PEG ratio of 5.83 and a beta of 0.96. 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 company has a fifty day simple moving average of $104.89 and a 200 day simple moving average of $117.26.

Chord Energy Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 26th. Shareholders of record on Tuesday, March 11th were paid a $1.30 dividend. This is an increase from Chord Energy’s previous quarterly dividend of $1.25. This represents a $5.20 dividend on an annualized basis and a yield of 5.51%. The ex-dividend date of this dividend was Tuesday, March 11th. Chord Energy’s payout ratio is presently 32.62%.

Institutional Trading of Chord Energy

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Delta Capital Management LLC grew its stake in Chord Energy by 4.3% during the 4th quarter. Delta Capital Management LLC now owns 2,200 shares of the company’s stock worth $257,000 after buying an additional 90 shares during the last quarter. Gables Capital Management Inc. grew its position in shares of Chord Energy by 6.9% during the fourth quarter. Gables Capital Management Inc. now owns 1,550 shares of the company’s stock worth $181,000 after acquiring an additional 100 shares during the last quarter. Envestnet Portfolio Solutions Inc. increased its holdings in shares of Chord Energy by 2.9% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 3,710 shares of the company’s stock worth $434,000 after acquiring an additional 106 shares during the period. Exchange Traded Concepts LLC boosted its stake in Chord Energy by 1.8% during the 4th quarter. Exchange Traded Concepts LLC now owns 6,145 shares of the company’s stock valued at $718,000 after purchasing an additional 110 shares during the period. Finally, MGO One Seven LLC increased its stake in shares of Chord Energy by 6.7% in the fourth quarter. MGO One Seven LLC now owns 1,775 shares of the company’s stock valued at $208,000 after purchasing an additional 111 shares during the period. 97.76% of the stock is currently owned by institutional investors and hedge funds.

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.