Chord Energy Corporation (NASDAQ:CHRD) Receives $148.00 Average Target Price from Analysts

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%.

Shares of Chord Energy Corporation (NASDAQ:CHRD - Get Free Report) have been assigned a consensus rating of "Moderate Buy" from the twelve analysts that are covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, ten have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year target price among brokers that have covered the stock in the last year is $148.00.

A number of analysts have weighed in on CHRD shares. Piper Sandler upped 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. 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. Citigroup upped 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. Wall Street Zen lowered Chord Energy from a "hold" rating to a "sell" rating in a report on Friday, July 18th. Finally, UBS Group upped 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.

Insider Activity at Chord Energy

In other news, EVP Shannon Browning Kinney sold 3,019 shares of the stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $105.43, for a total transaction of $318,293.17. Following the completion of the sale, the executive vice president owned 14,650 shares in the company, valued at approximately $1,544,549.50. This represents a 17.09% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.70% of the company's stock.

Institutional Trading of Chord Energy

Several hedge funds and other institutional investors have recently made changes to their positions in CHRD. Orion Porfolio Solutions LLC lifted its holdings in shares of Chord Energy by 6,714.2% during the 2nd quarter. Orion Porfolio Solutions LLC now owns 709,086 shares of the company's stock valued at $68,675,000 after purchasing an additional 698,680 shares during the last quarter. AQR Capital Management LLC lifted its holdings in shares of Chord Energy by 210.5% during the 2nd quarter. AQR Capital Management LLC now owns 734,225 shares of the company's stock valued at $71,110,000 after purchasing an additional 497,789 shares during the last quarter. Nuveen LLC purchased a new stake in shares of Chord Energy during the 1st quarter valued at $36,837,000. Squarepoint Ops LLC increased its position in shares of Chord Energy by 365.5% in the 4th quarter. Squarepoint Ops LLC now owns 337,284 shares of the company's stock valued at $39,435,000 after acquiring an additional 264,828 shares during the period. Finally, Sourcerock Group LLC increased its position in shares of Chord Energy by 214.9% in the 4th quarter. Sourcerock Group LLC now owns 314,870 shares of the company's stock valued at $36,815,000 after acquiring an additional 214,870 shares during the period. Hedge funds and other institutional investors own 97.76% of the company's stock.

Chord Energy Trading Down 0.7%

NASDAQ:CHRD traded down $0.71 during midday trading on Wednesday, hitting $104.16. The stock had a trading volume of 927,389 shares, compared to its average volume of 777,978. Chord Energy has a one year low of $79.83 and a one year high of $140.15. The company has a market capitalization of $5.96 billion, a price-to-earnings ratio of 26.50 and a beta of 0.97. The stock has a 50-day moving average of $105.93 and a 200 day moving average of $101.17. 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 (NASDAQ:CHRD - Get Free Report) last posted its earnings results on Wednesday, August 6th. The company reported $1.79 earnings per share for the quarter, missing analysts' consensus estimates of $1.88 by ($0.09). The company had revenue of $1.18 billion for the quarter, compared to analysts' expectations of $984.07 million. Chord Energy had a return on equity of 9.02% and a net margin of 5.02%.The firm's quarterly revenue was up 5.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $4.69 EPS. As a group, sell-side analysts forecast that Chord Energy will post 15.59 EPS for the current year.

Chord Energy Dividend Announcement

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

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.