Chord Energy (NASDAQ:CHRD) Cut to “Buy” at Wall Street Zen

Wall Street Zen cut shares of Chord Energy (NASDAQ:CHRD) from a strong-buy rating to a buy rating in a research note issued to investors on Saturday morning,Wall Street Zen reports.

A number of other equities analysts have also recently issued reports on the company. Wells Fargo & Company decreased their target price on Chord Energy from $174.00 to $173.00 and set an “overweight” rating on the stock in a report on Friday. Citigroup boosted their target price on Chord Energy from $130.00 to $150.00 and gave the stock a “neutral” rating in a research report on Thursday, September 17th. UBS Group upped their target price on Chord Energy from $193.00 to $197.00 and gave the company a “buy” rating in a report on Tuesday, October 20th. Zacks Research upgraded Chord Energy from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 20th. Finally, Mizuho increased their price target on Chord Energy from $175.00 to $179.00 and gave the company an “outperform” rating in a research report on Monday, October 5th. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $174.62.

Chord Energy Trading Up 0.7%

Shares of NASDAQ:CHRD opened at $137.49 on Friday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.15 and a current ratio of 1.22. The stock has a market capitalization of $7.52 billion, a price-to-earnings ratio of 7.21 and a beta of 0.48. Chord Energy has a 1-year low of $86.28 and a 1-year high of $159.96. The company has a 50 day moving average price of $145.24 and a 200 day moving average price of $132.08.

Chord Energy (NASDAQ:CHRD) last posted its quarterly earnings results on Wednesday, November 4th. The company reported $6.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.68 by $0.40. The company had revenue of $1.71 billion for the quarter, compared to analysts’ expectations of $1.64 billion. Chord Energy had a return on equity of 12.58% and a net margin of 13.40%. The firm’s revenue was up 30.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.35 earnings per share. On average, research analysts anticipate that Chord Energy will post 23.11 EPS for the current fiscal year.

Chord Energy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 7th. Investors of record on Thursday, November 19th will be issued a $1.30 dividend. This represents a $5.20 annualized dividend and a yield of 3.8%. The ex-dividend date is Thursday, November 19th. Chord Energy’s payout ratio is 32.60%.

Insider Buying and Selling

In other news, Director Samantha Mckinney sold 9,750 shares of Chord Energy stock in a transaction dated Tuesday, September 1st. The stock was sold at an average price of $149.94, for a total value of $1,461,915.00. Following the transaction, the director directly owned 7,280 shares in the company, valued at approximately $1,091,563.20. The trade was a 57.25% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.79% of the stock is owned by company insiders.

Institutional Investors Weigh In On Chord Energy

Hedge funds have recently modified their holdings of the business. Bessemer Group Inc. lifted its holdings in Chord Energy by 63.8% during the 1st quarter. Bessemer Group Inc. now owns 190 shares of the company’s stock valued at $27,000 after purchasing an additional 74 shares during the last quarter. Unison Advisors LLC increased its holdings in shares of Chord Energy by 1.1% in the third quarter. Unison Advisors LLC now owns 7,712 shares of the company’s stock valued at $1,034,000 after purchasing an additional 84 shares during the last quarter. Verity Asset Management Inc. increased its holdings in shares of Chord Energy by 3.8% in the third quarter. Verity Asset Management Inc. now owns 2,655 shares of the company’s stock valued at $356,000 after purchasing an additional 96 shares during the last quarter. Signature Equity Partners LLC increased its holdings in shares of Chord Energy by 48.6% in the third quarter. Signature Equity Partners LLC now owns 364 shares of the company’s stock valued at $49,000 after purchasing an additional 119 shares during the last quarter. Finally, Concurrent Investment Advisors LLC raised its position in shares of Chord Energy by 3.6% in the second quarter. Concurrent Investment Advisors LLC now owns 3,514 shares of the company’s stock valued at $402,000 after purchasing an additional 121 shares during the period. 97.76% of the stock is owned by institutional investors.

Chord Energy Company Profile