Chord Energy Corporation (NASDAQ:CHRD) Stock Has Average Price Target of $174.62

Shares of Chord Energy Corporation (NASDAQ:CHRD) have earned an average rating of “Moderate Buy” from the seventeen ratings firms that are presently covering the firm, MarketBeat Ratings reports. Three analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have given a strong buy rating to the company. The average 1 year price objective among analysts that have covered the stock in the last year is $174.69.

CHRD has been the subject of several research reports. UBS Group raised their price target on Chord Energy from $197.00 to $198.00 and gave the company a “buy” rating in a report on Tuesday. Zacks Research upgraded shares of Chord Energy from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 20th. Wall Street Zen cut shares of Chord Energy from a “strong-buy” rating to a “buy” rating in a research note on Saturday, November 7th. Scotiabank initiated coverage on shares of Chord Energy in a report on Wednesday, October 14th. They set a “sector outperform” rating and a $192.00 target price for the company. Finally, Citigroup lifted their target price on shares of Chord Energy from $130.00 to $150.00 and gave the stock a “neutral” rating in a report on Thursday, September 17th.

Insiders Place Their Bets

In related news, Director Samantha Mckinney sold 9,750 shares of Chord Energy stock in a transaction that occurred on Tuesday, September 1st. The stock was sold at an average price of $149.94, for a total transaction of $1,461,915.00. Following the completion of the sale, the director directly owned 7,280 shares of the company’s stock, valued at approximately $1,091,563.20. This trade represents a 57.25% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.79% of the company’s stock.

Institutional Investors Weigh In On Chord Energy

Hedge funds and other institutional investors have recently modified their holdings of the company. Dimensional Fund Advisors LP grew its stake in shares of Chord Energy by 27.1% in the first quarter. Dimensional Fund Advisors LP now owns 1,547,732 shares of the company’s stock valued at $220,078,000 after acquiring an additional 329,565 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in Chord Energy by 1.0% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 734,416 shares of the company’s stock valued at $100,586,000 after purchasing an additional 7,250 shares during the period. First Trust Advisors LP boosted its holdings in Chord Energy by 98.2% in the 1st quarter. First Trust Advisors LP now owns 579,920 shares of the company’s stock valued at $82,453,000 after purchasing an additional 287,340 shares during the period. Bank of New York Mellon Corp bought a new stake in Chord Energy in the 2nd quarter valued at about $66,489,000. Finally, Arrowstreet Capital Limited Partnership grew its position in shares of Chord Energy by 178.6% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 424,841 shares of the company’s stock worth $60,404,000 after purchasing an additional 272,349 shares in the last quarter. Institutional investors and hedge funds own 97.76% of the company’s stock.

Chord Energy Trading Up 3.5%

Chord Energy stock opened at $143.46 on Monday. The stock has a 50-day simple moving average of $144.94 and a 200 day simple moving average of $132.54. The stock has a market capitalization of $7.63 billion, a P/E ratio of 8.99 and a beta of 0.48. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.29 and a current ratio of 1.34. Chord Energy has a 52 week low of $87.35 and a 52 week high of $159.96.

Chord Energy (NASDAQ:CHRD) last issued its earnings results on Wednesday, November 4th. The company reported $6.08 EPS for the quarter, topping the consensus estimate of $5.68 by $0.40. The company had revenue of $1.71 billion during the quarter, compared to the consensus estimate of $1.64 billion. Chord Energy had a return on equity of 12.54% and a net margin of 13.40%. The firm’s revenue for the quarter was up 30.0% compared to the same quarter last year. During the same period in the previous year, the company posted $2.35 EPS. Analysts expect that Chord Energy will post 23.38 earnings per share for the current year.

Chord Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 7th. Stockholders of record on Thursday, November 19th will be issued a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date is Thursday, November 19th. Chord Energy’s payout ratio is currently 32.60%.

Chord Energy Company Profile

Chord Energy Corporation is an independent exploration and production company focused on finding, developing and producing oil and natural gas. Its operations are concentrated in the Williston Basin, primarily in North Dakota and Montana, where it develops resources in the Bakken and Three Forks formations. The company’s production includes crude oil, natural gas liquids and natural gas. Chord Energy was formed in 2022 through the combination of Oasis Petroleum and Whiting Petroleum, bringing together their Williston Basin operations.