Chord Energy Corporation (NASDAQ:CHRD) Receives $152.38 Consensus PT from Brokerages

Shares of Chord Energy Corporation (NASDAQ:CHRD) have been assigned an average rating of “Moderate Buy” from the sixteen analysts that are presently covering the firm, MarketBeat Ratings reports. Five equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. The average 12-month target price among analysts that have covered the stock in the last year is $152.3846.

A number of equities analysts have recently commented on CHRD shares. Roth Capital reiterated a “buy” rating and set a $145.00 price target on shares of Chord Energy in a report on Wednesday, July 15th. Mizuho raised Chord Energy to a “strong-buy” rating in a research note on Friday, July 31st. Morgan Stanley reduced their price objective on shares of Chord Energy from $175.00 to $169.00 and set an “overweight” rating for the company in a research report on Monday, June 29th. BMO Capital Markets reiterated an “outperform” rating on shares of Chord Energy in a research note on Monday, June 29th. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of Chord Energy in a research report on Friday, June 12th.

Insider Activity

In other news, Director Douglas E. Brooks sold 3,500 shares of the stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $136.71, for a total transaction of $478,485.00. Following the transaction, the director owned 20,205 shares of the company’s stock, valued at $2,762,225.55. This represents a 14.76% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Darrin J. Henke sold 1,276 shares of the firm’s 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 sale, the chief operating officer owned 21,157 shares of the company’s stock, valued at approximately $3,088,287.29. This represents a 5.69% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 6,276 shares of company stock worth $872,598 in the last quarter. Company insiders own 0.79% of the company’s stock.

Institutional Investors Weigh In On Chord Energy

A number of hedge funds have recently added to or reduced their stakes in CHRD. Assenagon Asset Management S.A. acquired a new position in shares of Chord Energy during the second quarter worth approximately $24,670,000. GAMMA Investing LLC grew its position in Chord Energy by 14.4% in the 2nd quarter. GAMMA Investing LLC now owns 1,618 shares of the company’s stock valued at $185,000 after purchasing an additional 204 shares during the period. Versant Capital Management Inc grew its position in Chord Energy by 330.9% in the 2nd quarter. Versant Capital Management Inc now owns 237 shares of the company’s stock valued at $27,000 after purchasing an additional 182 shares during the period. Parallel Advisors LLC increased its stake in Chord Energy by 13.8% during the 1st quarter. Parallel Advisors LLC now owns 2,035 shares of the company’s stock valued at $289,000 after purchasing an additional 246 shares in the last quarter. Finally, NewEdge Advisors LLC increased its stake in Chord Energy by 14.6% during the 1st quarter. NewEdge Advisors LLC now owns 3,244 shares of the company’s stock valued at $461,000 after purchasing an additional 414 shares in the last quarter. Institutional investors and hedge funds own 97.76% of the company’s stock.

Chord Energy Stock Performance

Shares of NASDAQ:CHRD opened at $129.95 on Friday. Chord Energy has a 1 year low of $84.25 and a 1 year high of $151.95. The stock has a market capitalization of $7.32 billion, a price-to-earnings ratio of -115.00 and a beta of 0.48. 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 company’s 50 day simple moving average is $128.07 and its 200 day simple moving average is $125.00.

Chord Energy (NASDAQ:CHRD) last issued its earnings results on Wednesday, August 5th. The company reported $6.44 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $6.55 by ($0.11). The firm had revenue of $2.17 billion during the quarter, compared to analyst estimates of $1.62 billion. Chord Energy had a positive return on equity of 7.06% and a negative net margin of 1.25%.Chord Energy’s revenue for the quarter was up 128.6% on a year-over-year basis. During the same period in the previous year, the company earned $1.79 EPS. As a group, research analysts predict that Chord Energy will post 18.32 EPS for the current fiscal year.

Chord Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 4th. Shareholders of record on Thursday, August 20th will be paid a $1.30 dividend. This represents a $5.20 annualized dividend and a yield of 4.0%. The ex-dividend date of this dividend is Thursday, August 20th. Chord Energy’s payout ratio is -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.