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

Shares of Chord Energy Co. (NASDAQ:CHRD) have received an average recommendation of “Buy” from the thirteen analysts that are covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $180.25.

CHRD has been the subject of several research analyst reports. Truist Financial dropped their target price on shares of Chord Energy from $223.00 to $185.00 and set a “buy” rating for the company in a research report on Monday, September 30th. Royal Bank of Canada cut their target price 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. Wells Fargo & Company raised their price target on Chord Energy from $175.00 to $176.00 and gave the company an “overweight” rating in a research report on Tuesday, December 17th. BMO Capital Markets cut their price objective on Chord Energy from $205.00 to $175.00 and set an “outperform” rating for the company in a report on Friday, October 4th. Finally, UBS Group decreased their price objective on Chord Energy from $168.00 to $161.00 and set a “buy” rating on the stock in a report on Monday, December 9th.

Insider Transactions at Chord Energy

In other news, CAO Shannon Browning Kinney sold 1,000 shares of the stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $116.35, for a total transaction 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. This represents a 4.88 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.70% of the company’s stock.

Institutional Inflows and Outflows

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

Chord Energy Trading Up 0.5 %

Shares of CHRD stock opened at $122.79 on Friday. The company has a market capitalization of $7.51 billion, a PE ratio of 6.32, a price-to-earnings-growth ratio of 4.79 and a beta of 0.99. Chord Energy has a 52-week low of $109.59 and a 52-week high of $190.23. The business’s fifty day moving average is $122.71 and its 200 day moving average is $139.89. 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 released its quarterly earnings results 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 during the quarter, compared to analysts’ expectations of $1.26 billion. During the same period in the previous year, the business earned $5.04 EPS. The business’s revenue was up 33.4% on a year-over-year basis. On average, equities research analysts anticipate that Chord Energy will post 16.5 EPS for the current fiscal year.

Chord Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Wednesday, November 27th were paid a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a dividend yield of 4.07%. The ex-dividend date of this dividend was Wednesday, November 27th. Chord Energy’s dividend payout ratio (DPR) is presently 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.