Chord Energy Co. (NASDAQ:CHRD) Receives $156.08 Average PT from Analysts

Shares of Chord Energy Co. (NASDAQ:CHRD - Get Free Report) have received an average rating of "Moderate Buy" from the thirteen brokerages that are currently covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, one has given a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $156.08.

A number of brokerages have issued reports on CHRD. Wells Fargo & Company cut their price objective on Chord Energy from $166.00 to $158.00 and set an "overweight" rating for the company in a report on Tuesday, April 15th. Williams Trading set a $155.00 target price on shares of Chord Energy in a research report on Wednesday, March 5th. Truist Financial boosted their price target on shares of Chord Energy from $185.00 to $186.00 and gave the company a "buy" rating in a research report on Monday, January 13th. Morgan Stanley set a $139.00 price objective on shares of Chord Energy and gave the stock a "cautious" rating in a research note on Wednesday, March 26th. Finally, Royal Bank of Canada cut their target price on shares of Chord Energy from $165.00 to $145.00 and set an "outperform" rating for the company in a research note on Friday, April 11th.

Insider Buying and Selling

In related news, EVP Shannon Browning Kinney sold 3,091 shares of Chord Energy stock in a transaction dated Thursday, May 8th. The stock was sold at an average price of $94.10, for a total transaction of $290,863.10. Following the completion of the transaction, the executive vice president now owns 21,277 shares in the company, valued at approximately $2,002,165.70. This trade represents a 12.68% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.70% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Delta Capital Management LLC boosted its position in Chord Energy by 4.3% during the fourth quarter. Delta Capital Management LLC now owns 2,200 shares of the company's stock worth $257,000 after purchasing an additional 90 shares during the period. Gables Capital Management Inc. grew its stake in Chord Energy by 6.9% in the 4th quarter. Gables Capital Management Inc. now owns 1,550 shares of the company's stock valued at $181,000 after buying an additional 100 shares during the last quarter. Envestnet Portfolio Solutions Inc. raised its holdings in Chord Energy by 2.9% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 3,710 shares of the company's stock valued at $434,000 after acquiring an additional 106 shares during the period. National Bank of Canada FI lifted its position in Chord Energy by 2.1% during the first quarter. National Bank of Canada FI now owns 5,258 shares of the company's stock worth $592,000 after acquiring an additional 106 shares during the last quarter. Finally, Exchange Traded Concepts LLC boosted its holdings in shares of Chord Energy by 1.8% during the fourth quarter. Exchange Traded Concepts LLC now owns 6,145 shares of the company's stock worth $718,000 after acquiring an additional 110 shares during the period. 97.76% of the stock is currently owned by institutional investors.

Chord Energy Stock Performance

NASDAQ CHRD traded up $1.36 during midday trading on Thursday, hitting $98.99. The company had a trading volume of 78,769 shares, compared to its average volume of 978,958. The firm has a fifty day simple moving average of $98.53 and a two-hundred day simple moving average of $112.26. Chord Energy has a fifty-two week low of $79.83 and a fifty-two week high of $188.02. The company has a quick ratio of 0.89, a current ratio of 0.93 and a debt-to-equity ratio of 0.10. The stock has a market cap of $5.89 billion, a price-to-earnings ratio of 5.10, a P/E/G ratio of 5.83 and a beta of 0.99.

Chord Energy (NASDAQ:CHRD - Get Free Report) last issued its earnings results on Tuesday, May 6th. The company reported $4.04 EPS for the quarter, topping the consensus estimate of $3.60 by $0.44. The firm had revenue of $1.22 billion during the quarter, compared to analysts' expectations of $1.07 billion. Chord Energy had a return on equity of 12.88% and a net margin of 19.74%. Chord Energy's quarterly revenue was up 12.0% compared to the same quarter last year. During the same period last year, the business earned $5.10 earnings per share. Equities analysts forecast that Chord Energy will post 15.59 earnings per share for the current fiscal year.

Chord Energy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 9th. Shareholders of record on Wednesday, May 21st will be paid a $1.30 dividend. This represents a $5.20 annualized dividend and a yield of 5.25%. The ex-dividend date is Wednesday, May 21st. Chord Energy's payout ratio is 34.78%.

Chord Energy Company Profile

Chord Energy Corporation operates as an independent exploration and production company in the United States. It acquires, explores, develops, and produces crude oil, natural gas, and natural gas liquids in the Williston Basin. The company sells its products to refiners, marketers, and other purchasers that have access to nearby pipeline and rail facilities.