Chord Energy Corporation (NASDAQ:CHRD) Receives $152.54 Consensus Target Price from Brokerages

Shares of Chord Energy Corporation (NASDAQ:CHRD - Get Free Report) have been given a consensus recommendation of "Moderate Buy" by the thirteen brokerages that are presently covering the stock, MarketBeat.com 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 assigned a strong buy rating to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $152.54.

A number of equities research analysts have recently commented on CHRD shares. Citigroup lowered their price objective on Chord Energy from $135.00 to $120.00 and set a "buy" rating for the company in a research report on Monday, April 7th. Mizuho decreased their price target on Chord Energy from $154.00 to $150.00 and set an "outperform" rating on the stock in a research note on Tuesday, May 13th. Williams Trading set a $155.00 price objective on shares of Chord Energy in a research note on Wednesday, March 5th. Royal Bank Of Canada cut their price objective on shares of Chord Energy from $165.00 to $145.00 and set an "outperform" rating on the stock in a report on Friday, April 11th. Finally, Morgan Stanley set a $139.00 target price on shares of Chord Energy and gave the stock a "cautious" rating in a research report on Wednesday, March 26th.

Chord Energy Trading Down 1.9%

Shares of NASDAQ CHRD traded down $1.85 during midday trading on Friday, reaching $96.85. 669,100 shares of the stock were exchanged, compared to its average volume of 856,028. The stock has a 50 day moving average price of $95.77 and a 200-day moving average price of $105.01. The company has a current ratio of 0.89, a quick ratio of 0.83 and a debt-to-equity ratio of 0.09. The company has a market capitalization of $5.59 billion, a P/E ratio of 6.48 and a beta of 0.96. Chord Energy has a 52-week low of $79.83 and a 52-week high of $181.17.

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 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 net margin of 16.15% and a return on equity of 10.34%. Chord Energy's revenue for the quarter was up 12.0% on a year-over-year basis. During the same period in the previous year, the company earned $5.10 EPS. Equities research analysts expect that Chord Energy will post 15.59 earnings per share for the current fiscal year.

Chord Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 9th. Stockholders of record on Wednesday, May 21st were paid a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a dividend yield of 5.37%. The ex-dividend date was Wednesday, May 21st. Chord Energy's dividend payout ratio is presently 34.78%.

Insider Buying and Selling at Chord Energy

In related news, EVP Shannon Browning Kinney sold 3,091 shares of the stock in a transaction on Thursday, May 8th. The stock was sold at an average price of $94.10, for a total value of $290,863.10. Following the completion of the sale, the executive vice president directly owned 21,277 shares in the company, valued at approximately $2,002,165.70. This represents a 12.68% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.70% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Gables Capital Management Inc. raised its holdings 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 buying an additional 100 shares during the period. Envestnet Portfolio Solutions Inc. grew its position in Chord Energy by 2.9% in the fourth 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 in the last quarter. National Bank of Canada FI raised its stake 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 valued at $592,000 after purchasing an additional 106 shares during the period. Voya Investment Management LLC raised its stake in shares of Chord Energy by 1.4% during the first quarter. Voya Investment Management LLC now owns 7,579 shares of the company's stock valued at $854,000 after purchasing an additional 107 shares during the period. Finally, MGO One Seven LLC lifted its position in shares of Chord Energy by 6.7% during the fourth quarter. MGO One Seven LLC now owns 1,775 shares of the company's stock worth $208,000 after purchasing an additional 111 shares in the last quarter. Institutional investors and hedge funds own 97.76% of the company's stock.

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.