Chord Energy Corporation (NASDAQ:CHRD) Receives $157.54 Average Price Target from Brokerages

Chord Energy Corporation (NASDAQ:CHRD) has been given an average recommendation of “Moderate Buy” by the fifteen ratings firms that are presently covering the company, Marketbeat reports. Five equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $157.5385.

CHRD has been the topic of a number of research analyst reports. Piper Sandler upped their price target on Chord Energy from $158.00 to $190.00 and gave the company an “overweight” rating in a report on Thursday, March 12th. Wall Street Zen raised Chord Energy from a “buy” rating to a “strong-buy” rating in a report on Saturday, May 30th. Roth Mkm reaffirmed a “buy” rating and set a $140.00 price target (up from $130.00) on shares of Chord Energy in a report on Friday, April 17th. Citigroup upped their price target on Chord Energy from $120.00 to $155.00 and gave the company a “neutral” rating in a report on Tuesday, March 31st. Finally, Mizuho upped their price target on Chord Energy from $164.00 to $175.00 and gave the company an “outperform” rating in a report on Wednesday, May 27th.

Insider Transactions at Chord Energy

In other Chord Energy news, Director Douglas E. Brooks sold 3,500 shares of the stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $136.71, for a total value of $478,485.00. Following the transaction, the director owned 20,205 shares of the company’s stock, valued at approximately $2,762,225.55. This represents a 14.76% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Darrin J. Henke sold 1,276 shares of the stock in a transaction dated Friday, May 15th. The shares were sold at an average price of $145.97, for a total value of $186,257.72. Following the completion of the transaction, the chief operating officer directly owned 21,157 shares in the company, valued at approximately $3,088,287.29. This represents a 5.69% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 9,276 shares of company stock worth $1,285,968. 0.79% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. Bessemer Group Inc. lifted its holdings in Chord Energy by 63.8% in the first quarter. Bessemer Group Inc. now owns 190 shares of the company’s stock valued at $27,000 after acquiring an additional 74 shares during the period. Blue Trust Inc. raised its stake in shares of Chord Energy by 22.2% in the first quarter. Blue Trust Inc. now owns 463 shares of the company’s stock worth $66,000 after buying an additional 84 shares during the period. SBI Securities Co. Ltd. raised its stake in shares of Chord Energy by 16.5% in the fourth quarter. SBI Securities Co. Ltd. now owns 797 shares of the company’s stock worth $74,000 after buying an additional 113 shares during the period. WealthCollab LLC raised its stake in shares of Chord Energy by 90.6% in the second quarter. WealthCollab LLC now owns 305 shares of the company’s stock worth $30,000 after buying an additional 145 shares during the period. Finally, Root Financial Partners LLC raised its stake in shares of Chord Energy by 178.6% in the first quarter. Root Financial Partners LLC now owns 234 shares of the company’s stock worth $33,000 after buying an additional 150 shares during the period. Institutional investors own 97.76% of the company’s stock.

Chord Energy Price Performance

CHRD opened at $126.71 on Friday. The stock has a 50-day moving average price of $137.87 and a 200-day moving average price of $116.90. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.02 and a quick ratio of 0.96. The firm has a market cap of $7.13 billion, a PE ratio of -112.13 and a beta of 0.48. Chord Energy has a 1 year low of $84.25 and a 1 year high of $151.95.

Chord Energy (NASDAQ:CHRD) last posted its quarterly earnings results on Tuesday, May 5th. The company reported $4.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.51 by $1.05. The firm had revenue of $1.67 billion during the quarter, compared to analyst estimates of $1.21 billion. Chord Energy had a positive return on equity of 7.06% and a negative net margin of 1.25%.Chord Energy’s quarterly revenue was up 37.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $4.04 EPS. Sell-side analysts predict that Chord Energy will post 20.53 earnings per share for the current fiscal year.

Chord Energy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, June 5th. Shareholders of record on Wednesday, May 20th were issued a $1.30 dividend. The ex-dividend date of this dividend was Wednesday, May 20th. This represents a $5.20 dividend on an annualized basis and a yield of 4.1%. Chord Energy’s dividend payout ratio is currently -460.18%.

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.