Analysts Set Chord Energy Corporation (NASDAQ:CHRD) PT at $148.77

Key Points

• Chord Energy Corporation (NASDAQ:CHRD) has received an average rating of “Moderate Buy” from analysts, with a majority assigning buy ratings and a 12-month price target averaging $148.77.
• The company reported a miss in its latest earnings with $1.79 EPS, falling short of the consensus estimate, while its revenue increased by 5.3% year-over-year.
• Chord Energy has announced a quarterly dividend of $1.30 per share, resulting in a 5.1% yield; however, its payout ratio stands at 132.32%.

Chord Energy Corporation (NASDAQ:CHRD - Get Free Report) has been assigned an average rating of "Moderate Buy" from the thirteen ratings firms that are currently covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation, ten have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $148.9231.

A number of research analysts recently issued reports on the company. Citigroup boosted their price objective on Chord Energy from $120.00 to $125.00 and gave the company a "buy" rating in a research report on Wednesday, July 9th. Wall Street Zen lowered Chord Energy from a "hold" rating to a "sell" rating in a research report on Friday, July 18th. Wells Fargo & Company boosted their price objective on Chord Energy from $143.00 to $146.00 and gave the company an "overweight" rating in a research report on Friday, August 15th. Bank of America reduced their price objective on Chord Energy from $114.00 to $112.00 and set a "buy" rating for the company in a research report on Friday, May 23rd. Finally, UBS Group boosted their price objective on Chord Energy from $120.00 to $122.00 and gave the company a "buy" rating in a research report on Wednesday.

Chord Energy Stock Performance

Shares of CHRD traded up $0.49 during mid-day trading on Friday, hitting $102.58. The stock had a trading volume of 736,882 shares, compared to its average volume of 786,810. The company has a market cap of $5.87 billion, a PE ratio of 26.10 and a beta of 0.97. The company's fifty day simple moving average is $104.51 and its two-hundred day simple moving average is $101.84. 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 fifty-two week low of $79.83 and a fifty-two week high of $154.75.

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

Chord Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 8th. Investors of record on Thursday, August 21st will be given a dividend of $1.30 per share. The ex-dividend date is Thursday, August 21st. This represents a $5.20 dividend on an annualized basis and a yield of 5.1%. Chord Energy's payout ratio is currently 132.32%.

Insiders Place Their Bets

In other Chord Energy news, EVP Shannon Browning Kinney sold 1,000 shares of Chord Energy stock in a transaction on Thursday, August 14th. The stock was sold at an average price of $101.64, for a total transaction of $101,640.00. Following the sale, the executive vice president owned 17,669 shares of the company's stock, valued at $1,795,877.16. The trade was a 5.36% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.70% of the stock is owned by insiders.

Institutional Trading of Chord Energy

Hedge funds have recently added to or reduced their stakes in the business. Altshuler Shaham Ltd bought a new stake in Chord Energy during the 4th quarter valued at $25,000. Bayforest Capital Ltd bought a new stake in Chord Energy during the 2nd quarter valued at $28,000. WealthCollab LLC raised its stake in Chord Energy by 90.6% during the 2nd quarter. WealthCollab LLC now owns 305 shares of the company's stock valued at $30,000 after acquiring an additional 145 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in Chord Energy by 91.2% during the 2nd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 411 shares of the company's stock valued at $40,000 after acquiring an additional 196 shares in the last quarter. Finally, Hexagon Capital Partners LLC raised its stake in Chord Energy by 321.7% during the 1st quarter. Hexagon Capital Partners LLC now owns 447 shares of the company's stock valued at $50,000 after acquiring an additional 341 shares in the last quarter. Institutional investors own 97.76% of the company's stock.

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.