Chord Energy Corporation (NASDAQ:CHRD) Given Consensus Recommendation of “Moderate Buy” by Analysts

Shares of Chord Energy Corporation (NASDAQ:CHRD) have received an average recommendation of “Moderate Buy” from the thirteen brokerages that are covering the firm, Marketbeat reports. Five analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The average twelve-month price target among analysts that have covered the stock in the last year is $126.1667.

A number of research firms recently issued reports on CHRD. Citigroup downgraded shares of Chord Energy from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $105.00 to $97.00 in a report on Wednesday, January 14th. Royal Bank Of Canada decreased their price target on shares of Chord Energy from $135.00 to $128.00 and set an “outperform” rating for the company in a research note on Tuesday, January 13th. Wall Street Zen cut shares of Chord Energy from a “hold” rating to a “sell” rating in a report on Saturday, November 1st. Piper Sandler reduced their price objective on Chord Energy from $167.00 to $165.00 and set an “overweight” rating for the company in a report on Tuesday, November 18th. Finally, William Blair began coverage on Chord Energy in a research report on Friday, November 21st. They issued an “outperform” rating for the company.

Insider Transactions at Chord Energy

In other Chord Energy news, Director Samantha Holroyd acquired 1,250 shares of the company’s stock in a transaction on Friday, November 7th. The shares were acquired at an average cost of $85.50 per share, with a total value of $106,875.00. Following the completion of the acquisition, the director directly owned 17,706 shares in the company, valued at $1,513,863. This trade represents a 7.60% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.70% of the company’s stock.

Institutional Trading of Chord Energy

Several hedge funds and other institutional investors have recently modified their holdings of CHRD. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of Chord Energy by 17.1% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 123,964 shares of the company’s stock valued at $13,973,000 after buying an additional 18,137 shares in the last quarter. Focus Partners Wealth purchased a new stake in shares of Chord Energy during the first quarter worth $289,000. Voya Investment Management LLC boosted its holdings in shares of Chord Energy by 1.4% in the first quarter. Voya Investment Management LLC now owns 7,579 shares of the company’s stock worth $854,000 after acquiring an additional 107 shares during the period. NBC Securities Inc. grew its position in shares of Chord Energy by 4.3% in the second quarter. NBC Securities Inc. now owns 11,564 shares of the company’s stock valued at $1,119,000 after purchasing an additional 475 shares in the last quarter. Finally, MassMutual Private Wealth & Trust FSB raised its stake in shares of Chord Energy by 254.1% during the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 687 shares of the company’s stock valued at $67,000 after purchasing an additional 493 shares during the period. Institutional investors own 97.76% of the company’s stock.

Chord Energy Stock Performance

Shares of Chord Energy stock opened at $92.30 on Tuesday. The business’s fifty day simple moving average is $92.87 and its 200 day simple moving average is $98.21. The company has a current ratio of 1.35, a quick ratio of 1.28 and a debt-to-equity ratio of 0.18. Chord Energy has a 12 month low of $79.83 and a 12 month high of $127.20. The firm has a market capitalization of $5.25 billion, a P/E ratio of 35.50 and a beta of 0.92.

Chord Energy (NASDAQ:CHRD) last announced its earnings results on Tuesday, November 4th. The company reported $2.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.24 by $0.11. The firm had revenue of $1.31 billion during the quarter, compared to analyst estimates of $1.02 billion. Chord Energy had a return on equity of 8.27% and a net margin of 3.31%.The business’s revenue was up 17.0% compared to the same quarter last year. During the same period last year, the firm posted $3.40 EPS. As a group, analysts anticipate that Chord Energy will post 15.59 EPS for the current year.

Chord Energy Announces Dividend

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

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.