Analysts Set Chord Energy Corporation (NASDAQ:CHRD) Price Target at $138.92

Chord Energy Corporation (NASDAQ:CHRD) has received an average recommendation of “Moderate Buy” from the fifteen brokerages that are covering the firm, Marketbeat.com reports. Five analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating on the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $141.8333.

CHRD has been the topic of several research analyst reports. Royal Bank Of Canada decreased their target price on shares of Chord Energy from $135.00 to $128.00 and set an “outperform” rating on the stock in a research report on Tuesday, January 13th. Weiss Ratings upgraded shares of Chord Energy from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Tuesday, March 17th. Wall Street Zen raised shares of Chord Energy from a “sell” rating to a “hold” rating in a report on Saturday, March 28th. Jefferies Financial Group set a $99.00 target price on shares of Chord Energy in a research report on Saturday, January 17th. Finally, Zacks Research upgraded shares of Chord Energy from a “strong sell” rating to a “hold” rating in a research report on Friday, March 6th.

Insider Transactions at Chord Energy

In related news, EVP Michael H. Lou sold 15,000 shares of the business’s stock in a transaction dated Thursday, March 12th. The shares were sold at an average price of $125.47, for a total value of $1,882,050.00. Following the sale, the executive vice president directly owned 82,699 shares in the company, valued at $10,376,243.53. The trade was a 15.35% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Douglas E. Brooks sold 2,126 shares of the firm’s stock in a transaction dated Friday, March 6th. The shares were sold at an average price of $120.28, for a total transaction of $255,715.28. Following the transaction, the director owned 25,181 shares of the company’s stock, valued at $3,028,770.68. This trade represents a 7.79% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 23,927 shares of company stock worth $2,912,028 over the last ninety days. 0.70% of the stock is currently owned by company insiders.

Institutional Trading of Chord Energy

Several large investors have recently modified their holdings of CHRD. Massachusetts Financial Services Co. MA acquired a new position in shares of Chord Energy during the 3rd quarter worth approximately $91,434,000. Orion Porfolio Solutions LLC grew its holdings in Chord Energy by 6,714.2% during the 2nd quarter. Orion Porfolio Solutions LLC now owns 709,086 shares of the company’s stock valued at $68,675,000 after buying an additional 698,680 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in Chord Energy by 85.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,218,167 shares of the company’s stock valued at $112,927,000 after buying an additional 561,899 shares during the last quarter. AQR Capital Management LLC increased its position in Chord Energy by 210.5% during the second quarter. AQR Capital Management LLC now owns 734,225 shares of the company’s stock worth $71,110,000 after buying an additional 497,789 shares in the last quarter. Finally, Barclays PLC increased its position in Chord Energy by 186.2% during the third quarter. Barclays PLC now owns 501,170 shares of the company’s stock worth $49,801,000 after buying an additional 326,054 shares in the last quarter. 97.76% of the stock is currently owned by institutional investors and hedge funds.

Chord Energy Stock Performance

Shares of CHRD stock opened at $142.00 on Friday. The company has a current ratio of 1.06, a quick ratio of 0.98 and a debt-to-equity ratio of 0.18. The stock has a 50 day simple moving average of $115.66 and a 200-day simple moving average of $101.38. The company has a market cap of $8.05 billion, a price-to-earnings ratio of 225.40 and a beta of 0.66. Chord Energy has a 12-month low of $79.83 and a 12-month high of $148.41.

Chord Energy (NASDAQ:CHRD) last posted its quarterly earnings results on Wednesday, February 25th. The company reported $1.28 earnings per share for the quarter, beating analysts’ consensus estimates of $1.17 by $0.11. The firm had revenue of $1.17 billion for the quarter, compared to the consensus estimate of $1.03 billion. Chord Energy had a return on equity of 6.71% and a net margin of 0.91%.The company’s revenue for the quarter was down 19.6% compared to the same quarter last year. During the same period in the previous year, the business earned $3.49 earnings per share. On average, equities analysts forecast that Chord Energy will post 15.59 EPS for the current year.

Chord Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 27th. Investors of record on Thursday, March 12th were issued a dividend of $1.30 per share. The ex-dividend date of this dividend was Thursday, March 12th. This represents a $5.20 annualized dividend and a yield of 3.7%. Chord Energy’s payout ratio is currently 825.40%.

About Chord Energy

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.