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

Key Points

• Chord Energy Corporation has received a consensus target price of $148.00 from twelve brokerages, with a rating of "Moderate Buy" and varying assessments, including one "sell" and one "strong buy."
• Insider trading revealed that EVP Shannon Browning Kinney sold 3,019 shares of the company, decreasing their holdings by 17.09%, while 97.76% of the stock is owned by institutional investors.
• The company announced a quarterly dividend of $1.30 per share, reflecting an annualized dividend of $5.20 and a yield of 5.0%, despite a high payout ratio of 132.32%.

Chord Energy Corporation (NASDAQ:CHRD - Get Free Report) has earned a consensus rating of "Moderate Buy" from the twelve research firms that are covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, ten have given a buy rating and one has assigned a strong buy rating to the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $148.00.

A number of equities analysts have issued reports on CHRD shares. Citigroup increased their target price on Chord Energy from $120.00 to $125.00 and gave the stock a "buy" rating in a report on Wednesday, July 9th. Piper Sandler increased their target price on Chord Energy from $164.00 to $166.00 and gave the stock an "overweight" rating in a report on Thursday, August 14th. Wells Fargo & Company increased their target price on Chord Energy from $143.00 to $146.00 and gave the stock an "overweight" rating in a report on Friday, August 15th. UBS Group increased their target price on Chord Energy from $120.00 to $122.00 and gave the stock a "buy" rating in a report on Wednesday, August 20th. Finally, Bank of America lowered their target price on Chord Energy from $114.00 to $112.00 and set a "buy" rating for the company in a report on Friday, May 23rd.

Insider Buying and Selling at Chord Energy

In other news, EVP Shannon Browning Kinney sold 3,019 shares of the firm's stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $105.43, for a total value of $318,293.17. Following the completion of the transaction, the executive vice president owned 14,650 shares in the company, valued at $1,544,549.50. This trade represents a 17.09% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.70% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of CHRD. Orion Porfolio Solutions LLC grew its holdings in Chord Energy by 6,714.2% during the second quarter. Orion Porfolio Solutions LLC now owns 709,086 shares of the company's stock worth $68,675,000 after purchasing an additional 698,680 shares during the period. AQR Capital Management LLC grew its holdings in Chord Energy by 210.5% during the second quarter. AQR Capital Management LLC now owns 734,225 shares of the company's stock worth $71,110,000 after purchasing an additional 497,789 shares during the period. Nuveen LLC bought a new position in Chord Energy during the first quarter worth about $36,837,000. Squarepoint Ops LLC grew its holdings in Chord Energy by 365.5% during the fourth quarter. Squarepoint Ops LLC now owns 337,284 shares of the company's stock worth $39,435,000 after purchasing an additional 264,828 shares during the period. Finally, Sourcerock Group LLC grew its holdings in Chord Energy by 214.9% during the fourth quarter. Sourcerock Group LLC now owns 314,870 shares of the company's stock worth $36,815,000 after purchasing an additional 214,870 shares during the period. 97.76% of the stock is owned by institutional investors and hedge funds.

Chord Energy Trading Down 0.7%

Shares of CHRD traded down $0.71 during trading hours on Wednesday, reaching $104.16. The stock had a trading volume of 927,389 shares, compared to its average volume of 778,789. The company has a quick ratio of 0.90, a current ratio of 0.97 and a debt-to-equity ratio of 0.11. Chord Energy has a 52 week low of $79.83 and a 52 week high of $140.15. The firm has a 50-day moving average of $105.93 and a 200 day moving average of $101.08. The company has a market cap of $5.96 billion, a P/E ratio of 26.50 and a beta of 0.97.

Chord Energy (NASDAQ:CHRD - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The company reported $1.79 EPS for the quarter, missing analysts' consensus estimates of $1.88 by ($0.09). Chord Energy had a net margin of 5.02% and a return on equity of 9.02%. The firm had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $984.07 million. During the same quarter in the prior year, the company earned $4.69 EPS. Chord Energy's quarterly revenue was up 5.3% on a year-over-year basis. On average, sell-side analysts expect that Chord Energy will post 15.59 earnings per share for the current fiscal year.

Chord Energy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 8th. Shareholders of record on Thursday, August 21st were issued a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a yield of 5.0%. The ex-dividend date was Thursday, August 21st. Chord Energy's dividend payout ratio is 132.32%.

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.