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

Key Points

• Analyst consensus: Fifteen brokers give CHRD an average recommendation of "Moderate Buy" (10 buys, 4 holds, 1 strong buy) with a 1‑year average price target of $152.23.
• Insider selling: Insiders sold 23,927 shares worth about $2.91M in the last 90 days (including the director and an EVP), and insiders now own roughly 0.79% of the company.
• Recent results & dividend: Chord reported a quarterly EPS beat ($1.28 vs. $1.17) and $1.17B revenue (down ~19.6% YoY) and pays a $1.30 quarterly dividend ($5.20 annualized, ~3.9% yield) with a reported payout ratio of 825.4%.

Chord Energy Corporation (NASDAQ:CHRD - Get Free Report) has earned an average recommendation of "Moderate Buy" from the fifteen brokerages that are covering the stock, Marketbeat Ratings reports. Four research analysts have rated the stock with a hold recommendation, ten have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $152.2308.

Several brokerages have recently issued reports on CHRD. Truist Financial lifted their target price on Chord Energy from $169.00 to $187.00 and gave the stock a "buy" rating in a report on Monday, April 13th. UBS Group lifted their target price on Chord Energy from $119.00 to $142.00 and gave the stock a "buy" rating in a report on Thursday, March 5th. Weiss Ratings raised Chord Energy from a "sell (d+)" rating to a "hold (c-)" rating in a report on Tuesday, March 17th. Royal Bank Of Canada reduced their target price on Chord Energy from $135.00 to $128.00 and set an "outperform" rating on the stock in a report on Tuesday, January 13th. Finally, Morgan Stanley raised Chord Energy from an "equal weight" rating to an "overweight" rating and lifted their target price for the stock from $114.00 to $168.00 in a report on Friday, March 27th.

Insider Transactions at Chord Energy

In related news, Director Douglas E. Brooks sold 2,126 shares of Chord Energy stock in a transaction dated Friday, March 6th. The stock was sold at an average price of $120.28, for a total value of $255,715.28. Following the completion of the transaction, the director owned 25,181 shares in the company, valued at approximately $3,028,770.68. This trade represents a 7.79% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Michael H. Lou sold 15,000 shares of Chord Energy stock in a transaction dated Thursday, March 12th. The stock was sold at an average price of $125.47, for a total value of $1,882,050.00. Following the completion of the transaction, the executive vice president owned 82,699 shares of the company's stock, valued at approximately $10,376,243.53. This represents a 15.35% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 23,927 shares of company stock valued at $2,912,028. 0.79% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. WealthCollab LLC grew its position in Chord Energy by 90.6% in the second quarter. WealthCollab LLC now owns 305 shares of the company's stock worth $30,000 after acquiring an additional 145 shares in the last quarter. Quent Capital LLC purchased a new position in Chord Energy in the third quarter worth about $32,000. Pilgrim Partners Asia Pte Ltd purchased a new position in Chord Energy in the third quarter worth about $46,000. Blue Trust Inc. grew its position in Chord Energy by 22.2% in the first quarter. Blue Trust Inc. now owns 463 shares of the company's stock worth $66,000 after acquiring an additional 84 shares in the last quarter. Finally, Rockefeller Capital Management L.P. grew its position in Chord Energy by 213.1% in the fourth quarter. Rockefeller Capital Management L.P. now owns 501 shares of the company's stock worth $47,000 after acquiring an additional 341 shares in the last quarter. Hedge funds and other institutional investors own 97.76% of the company's stock.

Chord Energy Price Performance

NASDAQ:CHRD opened at $134.81 on Thursday. The company has a quick ratio of 0.98, a current ratio of 1.06 and a debt-to-equity ratio of 0.18. The business's 50-day simple moving average is $124.43 and its two-hundred day simple moving average is $104.26. The stock has a market cap of $7.64 billion, a PE ratio of 213.98 and a beta of 0.66. Chord Energy has a 52 week low of $84.25 and a 52 week high of $148.41.

Chord Energy (NASDAQ:CHRD - Get Free Report) last posted its quarterly earnings results on Wednesday, February 25th. The company reported $1.28 EPS for the quarter, beating analysts' consensus estimates of $1.17 by $0.11. Chord Energy had a return on equity of 6.71% and a net margin of 0.91%.The business had revenue of $1.17 billion for the quarter, compared to analysts' expectations of $1.03 billion. During the same period last year, the firm earned $3.49 earnings per share. The business's quarterly revenue was down 19.6% on a year-over-year basis. As a group, analysts forecast that Chord Energy will post 15.74 EPS for the current fiscal year.

Chord Energy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 27th. Stockholders of record on Thursday, March 12th were issued a $1.30 dividend. This represents a $5.20 annualized dividend and a dividend yield of 3.9%. The ex-dividend date of this dividend was Thursday, March 12th. Chord Energy's payout ratio is 825.40%.

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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