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

Chord Energy Corporation (NASDAQ:CHRD - Get Free Report) has received an average recommendation of "Moderate Buy" from the thirteen brokerages that are currently covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $152.54.

A number of brokerages have recently weighed in on CHRD. Piper Sandler dropped their price target on Chord Energy from $184.00 to $183.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 22nd. Williams Trading set a $155.00 price target on Chord Energy in a research report on Wednesday, March 5th. Wells Fargo & Company dropped their price target on Chord Energy from $158.00 to $142.00 and set an "overweight" rating on the stock in a research report on Monday, June 16th. Citigroup dropped their price target on Chord Energy from $135.00 to $120.00 and set a "buy" rating on the stock in a research report on Monday, April 7th. Finally, Wall Street Zen cut Chord Energy from a "hold" rating to a "sell" rating in a research report on Friday, May 30th.

Chord Energy Trading Up 1.7%

Shares of CHRD opened at $99.35 on Friday. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.83 and a current ratio of 0.89. The stock has a 50-day moving average price of $95.61 and a 200 day moving average price of $105.50. Chord Energy has a one year low of $79.83 and a one year high of $181.17. The company has a market capitalization of $5.74 billion, a P/E ratio of 6.65, a P/E/G ratio of 6.77 and a beta of 0.96.

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

Chord Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 9th. Investors of record on Wednesday, May 21st were given a $1.30 dividend. This represents a $5.20 annualized dividend and a yield of 5.23%. The ex-dividend date was Wednesday, May 21st. Chord Energy's dividend payout ratio is currently 34.78%.

Insider Activity at Chord Energy

In other news, EVP Shannon Browning Kinney sold 3,091 shares of Chord Energy stock in a transaction on Thursday, May 8th. The stock was sold at an average price of $94.10, for a total transaction of $290,863.10. Following the transaction, the executive vice president now directly owns 21,277 shares in the company, valued at approximately $2,002,165.70. This trade represents a 12.68% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.70% of the stock is owned by insiders.

Hedge Funds Weigh In On Chord Energy

Several hedge funds have recently modified their holdings of the company. Gables Capital Management Inc. increased its position in shares of Chord Energy by 6.9% during 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 period. Envestnet Portfolio Solutions Inc. boosted its stake in shares of Chord Energy by 2.9% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 3,710 shares of the company's stock worth $434,000 after acquiring an additional 106 shares in the last quarter. National Bank of Canada FI boosted its stake in shares of Chord Energy by 2.1% during the 1st 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 in the last quarter. Voya Investment Management LLC boosted its stake in shares of Chord Energy by 1.4% during the 1st quarter. Voya Investment Management LLC now owns 7,579 shares of the company's stock worth $854,000 after acquiring an additional 107 shares in the last quarter. Finally, MGO One Seven LLC boosted its stake in shares of Chord Energy by 6.7% during the 4th quarter. MGO One Seven LLC now owns 1,775 shares of the company's stock worth $208,000 after acquiring an additional 111 shares in the last quarter. 97.76% of the stock is currently owned by institutional investors and hedge funds.

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.

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