Chord Energy Corporation (NASDAQ:CHRD) Given Average Rating of "Moderate Buy" by Analysts

Key Points

• Analysts are broadly positive on Chord Energy, with 10 buy ratings, 1 strong buy, and 4 holds, giving the stock an average rating of “Moderate Buy.” The average 12-month price target is about $156.15.
• The company beat first-quarter expectations, reporting EPS of $4.56 versus estimates of $3.51 and revenue of $1.67 billion versus $1.21 billion expected. Revenue rose 37.1% year over year.
• Chord Energy also announced a quarterly dividend of $1.30 per share, payable June 5, which annualizes to $5.20 per share for a yield of about 3.5%.

Chord Energy Corporation (NASDAQ:CHRD - Get Free Report) has received an average rating of "Moderate Buy" from the fifteen brokerages that are presently covering the stock, Marketbeat.com reports. Four research analysts have rated the stock with a hold recommendation, ten have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price target among analysts that have covered the stock in the last year is $156.1538.

A number of analysts recently weighed in on CHRD shares. Citigroup boosted their target price on Chord Energy from $120.00 to $155.00 and gave the stock a "neutral" rating in a research report on Tuesday, March 31st. Scotiabank boosted their target price on Chord Energy from $114.00 to $135.00 and gave the stock a "sector perform" rating in a research report on Wednesday, April 22nd. Truist Financial dropped their target price on Chord Energy from $187.00 to $185.00 and set a "buy" rating for the company in a research report on Friday, May 8th. Mizuho boosted their target price on Chord Energy from $162.00 to $164.00 and gave the stock an "outperform" rating in a research report on Wednesday, May 6th. Finally, Williams Trading set a $189.00 target price on Chord Energy in a research report on Monday, April 20th.

Chord Energy Stock Performance

Shares of CHRD opened at $148.39 on Monday. The company has a market cap of $8.35 billion, a PE ratio of -131.32 and a beta of 0.52. The company has a current ratio of 1.02, a quick ratio of 0.96 and a debt-to-equity ratio of 0.18. The stock has a 50-day moving average price of $135.21 and a 200-day moving average price of $109.48. Chord Energy has a 12-month low of $84.25 and a 12-month high of $150.50.

Chord Energy (NASDAQ:CHRD - Get Free Report) last issued its quarterly earnings results on Tuesday, May 5th. The company reported $4.56 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.51 by $1.05. The firm had revenue of $1.67 billion during the quarter, compared to the consensus estimate of $1.21 billion. Chord Energy had a positive return on equity of 7.06% and a negative net margin of 1.25%.The company's revenue for the quarter was up 37.1% on a year-over-year basis. During the same quarter last year, the company posted $4.04 EPS. As a group, equities analysts forecast that Chord Energy will post 18.61 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 Friday, June 5th. Investors of record on Wednesday, May 20th will be given a $1.30 dividend. The ex-dividend date is Wednesday, May 20th. This represents a $5.20 dividend on an annualized basis and a yield of 3.5%. Chord Energy's payout ratio is presently -460.18%.

Insider Transactions at Chord Energy

In other Chord Energy news, EVP Shannon Browning Kinney sold 1,801 shares of Chord Energy stock in a transaction that occurred on Tuesday, March 3rd. The stock was sold at an average price of $114.36, for a total value of $205,962.36. Following the transaction, the executive vice president directly owned 20,188 shares of the company's stock, valued at $2,308,699.68. The trade was a 8.19% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Lara J. Kroll sold 5,000 shares of Chord Energy stock in a transaction that occurred on Tuesday, March 3rd. The stock was sold at an average price of $113.66, for a total value of $568,300.00. Following the completion of the transaction, the chief accounting officer directly owned 8,921 shares in the company, valued at $1,013,960.86. This trade represents a 35.92% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 31,927 shares of company stock worth $4,011,738. 0.79% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Massachusetts Financial Services Co. MA bought a new position in shares of Chord Energy during the third quarter valued at approximately $91,434,000. Orion Porfolio Solutions LLC raised its holdings in shares of Chord Energy by 6,714.2% during the second quarter. Orion Porfolio Solutions LLC now owns 709,086 shares of the company's stock valued at $68,675,000 after acquiring an additional 698,680 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Chord Energy by 85.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,218,167 shares of the company's stock valued at $112,927,000 after acquiring an additional 561,899 shares in the last quarter. AQR Capital Management LLC raised its holdings in shares of Chord Energy by 210.5% during the second quarter. AQR Capital Management LLC now owns 734,225 shares of the company's stock valued at $71,110,000 after acquiring an additional 497,789 shares in the last quarter. Finally, Jennison Associates LLC bought a new position in shares of Chord Energy during the first quarter valued at approximately $60,190,000. Hedge funds and other institutional investors own 97.76% of the company's stock.

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.

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