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

Shares of Chord Energy Corporation (NASDAQ:CHRD - Get Free Report) have been given a consensus rating of "Moderate Buy" by the thirteen analysts that are covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, ten have assigned a buy rating and one has issued a strong buy rating on the company. The average 1-year price target among brokers that have covered the stock in the last year is $151.54.

Several brokerages have weighed in on CHRD. Wall Street Zen lowered shares of Chord Energy from a "hold" rating to a "sell" rating in a report on Friday. Piper Sandler upped their price target on shares of Chord Energy from $159.00 to $164.00 and gave the stock an "overweight" rating in a research note on Thursday, July 17th. Morgan Stanley set a $139.00 target price on shares of Chord Energy and gave the stock a "cautious" rating in a report on Wednesday, March 26th. Wells Fargo & Company raised their price objective on Chord Energy from $142.00 to $143.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 15th. Finally, Royal Bank Of Canada dropped their price target on shares of Chord Energy from $165.00 to $145.00 and set an "outperform" rating on the stock in a research note on Friday, April 11th.

Insider Activity

In related news, EVP Shannon Browning Kinney sold 3,091 shares of Chord Energy stock in a transaction on Thursday, May 8th. The shares were sold at an average price of $94.10, for a total value of $290,863.10. Following the sale, the executive vice president owned 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 transaction was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 0.70% of the company's stock.

Hedge Funds Weigh In On Chord Energy

Several large investors have recently modified their holdings of CHRD. Altshuler Shaham Ltd bought a new position in Chord Energy in the 4th quarter worth approximately $25,000. Hexagon Capital Partners LLC grew its position in shares of Chord Energy by 321.7% during the 1st quarter. Hexagon Capital Partners LLC now owns 447 shares of the company's stock worth $50,000 after buying an additional 341 shares in the last quarter. Caitong International Asset Management Co. Ltd boosted its position in Chord Energy by 5,877.8% during the first quarter. Caitong International Asset Management Co. Ltd now owns 538 shares of the company's stock valued at $61,000 after purchasing an additional 529 shares in the last quarter. MassMutual Private Wealth & Trust FSB boosted its holdings in Chord Energy by 254.1% in the second quarter. MassMutual Private Wealth & Trust FSB now owns 687 shares of the company's stock worth $67,000 after acquiring an additional 493 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. boosted its holdings in Chord Energy by 89.6% in the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 692 shares of the company's stock worth $67,000 after acquiring an additional 327 shares in the last quarter. Hedge funds and other institutional investors own 97.76% of the company's stock.

Chord Energy Stock Down 0.8%

Shares of NASDAQ CHRD opened at $105.51 on Tuesday. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.89 and a quick ratio of 0.83. The company has a market capitalization of $6.09 billion, a P/E ratio of 7.06 and a beta of 0.96. The company has a 50 day simple moving average of $99.30 and a 200-day simple moving average of $104.18. Chord Energy has a 1 year low of $79.83 and a 1 year high of $175.55.

Chord Energy (NASDAQ:CHRD - Get Free Report) last issued its quarterly earnings results on Tuesday, May 6th. The company reported $4.04 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.60 by $0.44. Chord Energy had a net margin of 16.15% and a return on equity of 10.34%. The business had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.07 billion. During the same period in the previous year, the business posted $5.10 earnings per share. The business's revenue was up 12.0% compared to the same quarter last year. On average, equities research analysts predict that Chord Energy will post 15.59 earnings per share for the current year.

Chord Energy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 9th. Stockholders of record on Wednesday, May 21st were issued a $1.30 dividend. This represents a $5.20 annualized dividend and a dividend yield of 4.93%. The ex-dividend date of this dividend was Wednesday, May 21st. Chord Energy's dividend payout ratio is 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.