Chord Energy Corporation (NASDAQ:CHRD) Receives Average Rating of "Moderate Buy" from Analysts

Key Points

• Chord Energy Corporation (NASDAQ:CHRD) has received a consensus rating of "Moderate Buy" from analysts, with nine out of thirteen firms recommending a buy or strong buy.
• The company recently reported $1.79 earnings per share for the last quarter, missing the consensus estimate by $0.09 but achieving a revenue of $1.18 billion, exceeding expectations.
• Chord Energy declared a quarterly dividend of $1.30 per share, with an annual yield of 5.2%, despite a high payout ratio of 132.32%.

Chord Energy Corporation (NASDAQ:CHRD - Get Free Report) has been assigned a consensus recommendation of "Moderate Buy" from the thirteen research firms that are currently covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, two have given a hold recommendation, nine have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $144.6667.

CHRD has been the topic of several research reports. Wells Fargo & Company upped their price target on shares of Chord Energy from $146.00 to $149.00 and gave the stock an "overweight" rating in a research report on Wednesday, September 17th. Bank of America boosted their price objective on Chord Energy from $112.00 to $123.00 and gave the stock a "buy" rating in a report on Wednesday, September 17th. Weiss Ratings reissued a "hold (c-)" rating on shares of Chord Energy in a report on Saturday, September 27th. UBS Group boosted their price objective on Chord Energy from $122.00 to $130.00 and gave the stock a "buy" rating in a report on Tuesday, September 16th. Finally, Mizuho dropped their price objective on Chord Energy from $152.00 to $142.00 and set an "outperform" rating for the company in a report on Monday, September 15th.

Chord Energy Stock Up 1.7%

Shares of NASDAQ CHRD opened at $99.13 on Friday. The firm's 50-day simple moving average is $104.51 and its 200 day simple moving average is $100.72. The company has a market cap of $5.68 billion, a price-to-earnings ratio of 25.22 and a beta of 0.94. 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 12-month low of $79.83 and a 12-month high of $139.26.

Chord Energy (NASDAQ:CHRD - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The company reported $1.79 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.88 by ($0.09). The company had revenue of $1.18 billion for the quarter, compared to analyst estimates 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 last year, the company earned $4.69 EPS. On average, research analysts expect that Chord Energy will post 15.59 earnings per share for the current fiscal year.

Chord Energy Announces Dividend

The company also recently disclosed 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 annualized dividend and a yield of 5.2%. The ex-dividend date of this dividend was Thursday, August 21st. Chord Energy's payout ratio is currently 132.32%.

Insiders Place Their Bets

In other Chord Energy news, EVP Shannon Browning Kinney sold 3,019 shares of the business's stock in a transaction dated 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 directly owned 14,650 shares of the company's stock, valued at approximately $1,544,549.50. The trade was a 17.09% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.70% of the company's stock.

Institutional Trading of Chord Energy

Institutional investors and hedge funds have recently modified their holdings of the stock. Bayforest Capital Ltd bought a new stake in shares of Chord Energy in the 2nd quarter valued at about $28,000. WealthCollab LLC increased its stake in shares of Chord Energy by 90.6% in the 2nd quarter. WealthCollab LLC now owns 305 shares of the company's stock valued at $30,000 after acquiring an additional 145 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in shares of Chord Energy by 91.2% in 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 during the last quarter. Hexagon Capital Partners LLC increased its stake in shares of Chord Energy by 321.7% in 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 during the last quarter. Finally, Caitong International Asset Management Co. Ltd increased its stake in shares of Chord Energy by 5,877.8% in the 1st quarter. Caitong International Asset Management Co. Ltd now owns 538 shares of the company's stock valued at $61,000 after acquiring an additional 529 shares during the last quarter. 97.76% of the stock is owned by institutional investors.

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.

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