Chord Energy (NASDAQ:CHRD) Downgraded to “Neutral” Rating by Pickering Energy Partners

Pickering Energy Partners downgraded shares of Chord Energy (NASDAQ:CHRD) from an outperform rating to a neutral rating in a research note published on Friday morning, Marketbeat reports.

Other analysts have also recently issued reports about the stock. UBS Group decreased their price target on shares of Chord Energy from $130.00 to $123.00 and set a “buy” rating for the company in a research report on Wednesday, November 12th. William Blair started coverage on Chord Energy in a research note on Friday, November 21st. They set an “outperform” rating on the stock. Weiss Ratings reiterated a “hold (c-)” rating on shares of Chord Energy in a research note on Wednesday, October 8th. Wall Street Zen downgraded Chord Energy from a “hold” rating to a “sell” rating in a report on Saturday, November 1st. Finally, Wells Fargo & Company upped their price target on Chord Energy from $108.00 to $113.00 and gave the stock an “overweight” rating in a report on Friday, November 14th. Ten research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $136.42.

Chord Energy Trading Down 2.3%

NASDAQ CHRD opened at $92.13 on Friday. Chord Energy has a one year low of $79.83 and a one year high of $129.32. The company’s 50 day moving average price is $92.27 and its 200 day moving average price is $98.55. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.28 and a current ratio of 1.35. The firm has a market capitalization of $5.24 billion, a price-to-earnings ratio of 35.43 and a beta of 0.92.

Chord Energy (NASDAQ:CHRD) last released its quarterly earnings data on Tuesday, November 4th. The company reported $2.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.24 by $0.11. Chord Energy had a net margin of 3.31% and a return on equity of 8.27%. The company had revenue of $1.31 billion during the quarter, compared to the consensus estimate of $1.02 billion. During the same period in the previous year, the firm earned $3.40 earnings per share. Chord Energy’s revenue for the quarter was up 17.0% on a year-over-year basis. On average, sell-side analysts predict that Chord Energy will post 15.59 EPS for the current year.

Chord Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 5th. Shareholders of record on Wednesday, November 19th were issued a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a yield of 5.6%. The ex-dividend date of this dividend was Wednesday, November 19th. Chord Energy’s dividend payout ratio (DPR) is currently 200.00%.

Insider Buying and Selling at Chord Energy

In related news, Director Samantha Holroyd purchased 1,250 shares of Chord Energy stock in a transaction dated Friday, November 7th. The shares were acquired at an average price of $85.50 per share, with a total value of $106,875.00. Following the completion of the transaction, the director owned 17,706 shares of the company’s stock, valued at approximately $1,513,863. This trade represents a 7.60% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.70% of the company’s stock.

Institutional Investors Weigh In On Chord Energy

Institutional investors and hedge funds have recently made changes to their positions in the company. Bayforest Capital Ltd bought a new position in Chord Energy during the second quarter worth $28,000. WealthCollab LLC lifted its position in shares of Chord Energy by 90.6% in the 2nd quarter. WealthCollab LLC now owns 305 shares of the company’s stock worth $30,000 after buying an additional 145 shares during the last quarter. Quent Capital LLC bought a new position in shares of Chord Energy in the 3rd quarter worth about $32,000. Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in shares of Chord Energy by 91.2% in the 2nd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 411 shares of the company’s stock valued at $40,000 after buying an additional 196 shares during the period. Finally, Pilgrim Partners Asia Pte Ltd bought a new stake in shares of Chord Energy during the 3rd quarter valued at about $46,000. 97.76% of the stock is owned by institutional investors and hedge funds.

Chord Energy Company Profile

Chord Energy Corporation (NASDAQ: CHRD), formerly known as Oasis Petroleum Inc, is an independent exploration and production company focused on the acquisition, development and production of crude oil, natural gas and natural gas liquids. Headquartered in Houston, Texas, Chord Energy emerged from financial restructuring in early 2021 and rebranded in October 2022 to reflect its renewed strategic vision.

The company’s core operations are concentrated in two prolific U.S. resource plays: the Williston Basin across North Dakota and Montana, and the Delaware Basin spanning parts of West Texas and southeastern New Mexico.