Chord Energy Co. (NASDAQ:CHRD) Receives $153.77 Average Target Price from Analysts

Shares of Chord Energy Co. (NASDAQ:CHRD - Get Free Report) have received a consensus rating of "Moderate Buy" from the thirteen ratings firms that are presently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation, ten have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price target among analysts that have covered the stock in the last year is $153.77.

A number of equities research analysts recently issued reports on the company. Wall Street Zen lowered Chord Energy from a "hold" rating to a "sell" rating in a research report on Friday, May 30th. Piper Sandler decreased their price target on shares of Chord Energy from $184.00 to $183.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 22nd. Citigroup reduced their price objective on Chord Energy from $135.00 to $120.00 and set a "buy" rating for the company in a report on Monday, April 7th. Bank of America lowered their target price on Chord Energy from $114.00 to $112.00 and set a "buy" rating on the stock in a research note on Friday, May 23rd. Finally, Morgan Stanley set a $139.00 price objective on Chord Energy and gave the company a "cautious" rating in a report on Wednesday, March 26th.

Insider Buying and Selling

In other Chord Energy news, EVP Shannon Browning Kinney sold 3,091 shares of the business's stock in a transaction that occurred on Thursday, May 8th. The shares were 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 directly owns 21,277 shares in the company, valued at $2,002,165.70. The trade was a 12.68% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.70% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Gables Capital Management Inc. lifted 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 purchasing an additional 100 shares during the last quarter. Envestnet Portfolio Solutions Inc. boosted its stake in shares of 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 purchasing an additional 106 shares during the last quarter. National Bank of Canada FI increased its position in shares of 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 buying an additional 106 shares during the period. MGO One Seven LLC lifted its holdings in Chord Energy by 6.7% in the fourth quarter. MGO One Seven LLC now owns 1,775 shares of the company's stock valued at $208,000 after buying an additional 111 shares during the period. Finally, PNC Financial Services Group Inc. increased its holdings in Chord Energy by 4.2% in the first quarter. PNC Financial Services Group Inc. now owns 2,921 shares of the company's stock worth $329,000 after purchasing an additional 118 shares in the last quarter. Institutional investors and hedge funds own 97.76% of the company's stock.

Chord Energy Trading Down 2.7%

CHRD traded down $2.58 during trading on Monday, reaching $93.15. 544,114 shares of the company's stock were exchanged, compared to its average volume of 929,025. The firm has a market capitalization of $5.38 billion, a PE ratio of 4.80, a P/E/G ratio of 5.83 and a beta of 0.99. Chord Energy has a fifty-two week low of $79.83 and a fifty-two week high of $181.17. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.89 and a current ratio of 0.93. The company's fifty day moving average price is $93.76 and its 200-day moving average price is $108.46.

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

Chord Energy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 9th. Stockholders of record on Wednesday, May 21st will be issued a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a dividend yield of 5.58%. The ex-dividend date of this dividend is Wednesday, May 21st. Chord Energy's dividend payout ratio (DPR) is presently 34.78%.

About Chord Energy

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.