Chord Energy Corporation (NASDAQ:CHRD) Stock Has Consensus Target Price of $172.00 According to Analysts

Shares of Chord Energy Corporation (NASDAQ:CHRD) have been assigned a consensus recommendation of “Moderate Buy” from the seventeen ratings firms that are currently covering the company, Marketbeat Ratings reports. Four analysts have rated the stock with a hold recommendation, twelve have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $172.69.

Several research analysts recently commented on CHRD shares. Wells Fargo & Company reduced their price objective on Chord Energy from $175.00 to $174.00 and set an “overweight” rating for the company in a research note on Wednesday. Mizuho upped their target price on shares of Chord Energy from $175.00 to $179.00 and gave the stock an “outperform” rating in a report on Monday, October 5th. Weiss Ratings upgraded shares of Chord Energy from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, October 8th. Jefferies Financial Group upped their price objective on shares of Chord Energy from $133.00 to $150.00 and gave the company a “hold” rating in a research note on Friday, September 18th. Finally, Seaport Research Partners assumed coverage on shares of Chord Energy in a report on Thursday, September 3rd. They issued a “neutral” rating for the company.

Insider Activity

In related news, EVP Shannon Kinney sold 4,019 shares of the stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $140.00, for a total value of $562,660.00. Following the completion of the sale, the executive vice president owned 13,560 shares of the company’s stock, valued at approximately $1,898,400. This trade represents a 22.86% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Douglas Brooks sold 8,000 shares of Chord Energy stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $133.14, for a total value of $1,065,120.00. Following the transaction, the director owned 10,705 shares in the company, valued at approximately $1,425,263.70. The trade was a 42.77% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 23,969 shares of company stock worth $3,389,599 over the last ninety days. Corporate insiders own 0.79% of the company’s stock.

Institutional Trading of Chord Energy

Several large investors have recently added to or reduced their stakes in the stock. Alpine Bank Wealth Management acquired a new stake in shares of Chord Energy in the 3rd quarter worth $29,000. GAMMA Investing LLC raised its holdings in shares of Chord Energy by 45.7% during the 3rd quarter. GAMMA Investing LLC now owns 2,358 shares of the company’s stock worth $316,000 after acquiring an additional 740 shares during the period. Farther Finance Advisors LLC raised its holdings in shares of Chord Energy by 216.5% during the 3rd quarter. Farther Finance Advisors LLC now owns 4,383 shares of the company’s stock worth $588,000 after acquiring an additional 2,998 shares during the period. Argent Capital Management LLC boosted its position in shares of Chord Energy by 25.1% during the 3rd quarter. Argent Capital Management LLC now owns 21,934 shares of the company’s stock valued at $2,941,000 after acquiring an additional 4,407 shares during the last quarter. Finally, Core Capital Management & Research inc. acquired a new position in shares of Chord Energy during the 2nd quarter valued at about $668,000. 97.76% of the stock is currently owned by hedge funds and other institutional investors.

Chord Energy Price Performance

Shares of Chord Energy stock opened at $154.56 on Thursday. The business has a 50 day simple moving average of $143.49 and a two-hundred day simple moving average of $136.74. Chord Energy has a 12 month low of $84.25 and a 12 month high of $157.06. The stock has a market capitalization of $8.45 billion, a P/E ratio of 10.36 and a beta of 0.59. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.22 and a quick ratio of 1.15.

Chord Energy (NASDAQ:CHRD) last released its earnings results on Wednesday, August 5th. The company reported $6.44 earnings per share for the quarter, missing the consensus estimate of $6.55 by ($0.11). The firm had revenue of $2.17 billion during the quarter, compared to analysts’ expectations of $1.62 billion. Chord Energy had a net margin of 13.42% and a return on equity of 10.18%. The business’s revenue was up 128.6% compared to the same quarter last year. During the same quarter last year, the business earned $1.79 EPS. As a group, analysts predict that Chord Energy will post 21.12 EPS for the current fiscal year.

Chord Energy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 4th. Stockholders of record on Thursday, August 20th were issued a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a dividend yield of 3.4%. The ex-dividend date was Thursday, August 20th. Chord Energy’s payout ratio is currently 34.85%.

About Chord Energy

Chord Energy Corporation is an independent exploration and production company focused on developing and producing crude oil, natural gas and natural gas liquids. The company’s operations are concentrated in the Williston Basin, primarily in the Bakken and Three Forks formations of North Dakota and Montana.

Chord Energy’s activities include acquiring, exploring, drilling and operating oil and natural gas properties. Its portfolio is largely composed of developed, producing assets and undeveloped acreage in the Williston Basin, where the company uses horizontal drilling and hydraulic fracturing to produce hydrocarbons.

The company was formed through the 2022 merger of Oasis Petroleum Inc and Whiting Petroleum Corporation, bringing together complementary Bakken-focused operations.