Chord Energy Corporation (NASDAQ:CHRD) Receives Average Recommendation of “Moderate Buy” from Analysts

Chord Energy Corporation (NASDAQ:CHRD) has earned an average rating of “Moderate Buy” from the thirteen research firms that are currently covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, two have issued a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $143.4167.

A number of research firms have weighed in on CHRD. UBS Group boosted their price objective on Chord Energy from $122.00 to $130.00 and gave the stock a “buy” rating in a research note on Tuesday, September 16th. Scotiabank began coverage on Chord Energy in a research note on Friday, September 19th. They set a “sector perform” rating and a $120.00 price objective on the stock. Piper Sandler lowered their price objective on Chord Energy from $169.00 to $167.00 and set an “overweight” rating on the stock in a research note on Friday, October 3rd. Weiss Ratings reissued a “hold (c-)” rating on shares of Chord Energy in a research note on Wednesday. Finally, Wall Street Zen lowered Chord Energy from a “hold” rating to a “sell” rating in a research note on Friday, July 18th.

Insider Buying and Selling

In other Chord Energy news, EVP Shannon Browning Kinney sold 3,019 shares of Chord Energy stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $105.43, for a total value of $318,293.17. Following the sale, the executive vice president owned 14,650 shares in the company, valued at $1,544,549.50. The trade was a 17.09% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.70% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Chord Energy

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Voya Investment Management LLC raised its position in Chord Energy by 25.3% in the third quarter. Voya Investment Management LLC now owns 8,267 shares of the company’s stock valued at $821,000 after purchasing an additional 1,669 shares during the period. Assenagon Asset Management S.A. purchased a new stake in Chord Energy in the third quarter valued at $550,000. Oak Thistle LLC purchased a new stake in Chord Energy in the third quarter valued at $842,000. GAMMA Investing LLC raised its position in Chord Energy by 27.7% in the third quarter. GAMMA Investing LLC now owns 1,528 shares of the company’s stock valued at $152,000 after purchasing an additional 331 shares during the period. Finally, Corient Private Wealth LLC raised its position in Chord Energy by 4.2% in the second quarter. Corient Private Wealth LLC now owns 24,393 shares of the company’s stock valued at $2,363,000 after purchasing an additional 994 shares during the period. Hedge funds and other institutional investors own 97.76% of the company’s stock.

Chord Energy Stock Performance

Shares of NASDAQ:CHRD opened at $95.97 on Friday. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.97 and a quick ratio of 0.90. The business’s 50 day moving average price is $103.39 and its 200-day moving average price is $100.44. The firm has a market capitalization of $5.50 billion, a PE ratio of 24.42 and a beta of 0.94. Chord Energy has a 1 year low of $79.83 and a 1 year high of $136.38.

Chord Energy (NASDAQ:CHRD) last issued its quarterly earnings results on Wednesday, August 6th. The company reported $1.79 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.88 by ($0.09). The firm had revenue of $1.18 billion during the quarter, compared to analyst estimates of $984.07 million. Chord Energy had a return on equity of 9.02% and a net margin of 5.02%.The business’s revenue was up 5.3% on a year-over-year basis. During the same period in the prior year, the firm earned $4.69 earnings per share. As a group, equities research analysts expect that Chord Energy will post 15.59 earnings per share for the current fiscal year.

Chord Energy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 8th. Shareholders of record on Thursday, August 21st were given a $1.30 dividend. The ex-dividend date was Thursday, August 21st. This represents a $5.20 dividend on an annualized basis and a yield of 5.4%. Chord Energy’s payout ratio is currently 132.32%.

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.