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

Key Points

• Chord Energy has a consensus analyst rating of “Moderate Buy”, based on coverage from 15 research firms. The average 12-month price target is about $157.54.
• The company reported strong quarterly results, with earnings per share of $4.56 versus estimates of $3.51 and revenue of $1.67 billion, both ahead of expectations. Revenue also rose 37.1% from the same quarter last year.
• Chord Energy recently paid a quarterly dividend of $1.30 per share, equal to an annualized yield of about 3.9%. However, there have also been recent insider share sales by a director and the COO.

Shares of Chord Energy Corporation (NASDAQ:CHRD - Get Free Report) have earned a consensus recommendation of "Moderate Buy" from the fifteen research firms that are currently covering the company, MarketBeat reports. Five analysts have rated the stock with a hold recommendation and ten have assigned a buy recommendation to the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $157.5385.

Several equities analysts have recently commented on the company. Roth Mkm restated a "buy" rating and set a $140.00 price target (up from $130.00) on shares of Chord Energy in a research note on Friday, April 17th. Citigroup raised their price objective on Chord Energy from $120.00 to $155.00 and gave the company a "neutral" rating in a research report on Tuesday, March 31st. Truist Financial dropped their price objective on Chord Energy from $187.00 to $185.00 and set a "buy" rating on the stock in a research report on Friday, May 8th. Mizuho raised their price objective on Chord Energy from $164.00 to $175.00 and gave the company an "outperform" rating in a research report on Wednesday, May 27th. Finally, Morgan Stanley raised their price target on Chord Energy from $168.00 to $175.00 and gave the stock an "overweight" rating in a report on Friday, May 22nd.

Chord Energy Stock Performance

CHRD stock opened at $133.74 on Friday. The company has a quick ratio of 0.96, a current ratio of 1.02 and a debt-to-equity ratio of 0.18. The business's fifty day simple moving average is $138.50 and its two-hundred day simple moving average is $116.11. Chord Energy has a twelve month low of $84.25 and a twelve month high of $151.95. The firm has a market cap of $7.53 billion, a price-to-earnings ratio of -118.35 and a beta of 0.48.

Chord Energy (NASDAQ:CHRD - Get Free Report) last released its earnings results on Tuesday, May 5th. The company reported $4.56 earnings per share for the quarter, topping analysts' consensus estimates of $3.51 by $1.05. The business had revenue of $1.67 billion for the quarter, compared to analyst estimates of $1.21 billion. Chord Energy had a positive return on equity of 7.06% and a negative net margin of 1.25%.The business's revenue was up 37.1% compared to the same quarter last year. During the same quarter last year, the firm posted $4.04 earnings per share. Analysts predict that Chord Energy will post 20.53 earnings per share for the current year.

Chord Energy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, June 5th. Investors of record on Wednesday, May 20th were issued a dividend of $1.30 per share. The ex-dividend date of this dividend was Wednesday, May 20th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 3.9%. Chord Energy's payout ratio is -460.18%.

Insider Transactions at Chord Energy

In related news, Director Douglas E. Brooks sold 1,500 shares of Chord Energy stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $138.57, for a total transaction of $207,855.00. Following the completion of the sale, the director owned 18,705 shares of the company's stock, valued at $2,591,951.85. The trade was a 7.42% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Darrin J. Henke sold 1,276 shares of Chord Energy stock in a transaction dated Friday, May 15th. The stock was sold at an average price of $145.97, for a total value of $186,257.72. Following the sale, the chief operating officer directly owned 21,157 shares of the company's stock, valued at $3,088,287.29. This trade represents a 5.69% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 9,276 shares of company stock valued at $1,285,968 in the last ninety days. Corporate insiders own 0.79% of the company's stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Bessemer Group Inc. lifted its holdings in Chord Energy by 63.8% in the first quarter. Bessemer Group Inc. now owns 190 shares of the company's stock valued at $27,000 after acquiring an additional 74 shares during the period. V Square Quantitative Management LLC purchased a new stake in shares of Chord Energy in the first quarter valued at approximately $29,000. WealthCollab LLC increased its position in shares of Chord Energy by 90.6% in the second quarter. WealthCollab LLC now owns 305 shares of the company's stock valued at $30,000 after buying an additional 145 shares in the last quarter. Root Financial Partners LLC increased its position in shares of Chord Energy by 178.6% in the first quarter. Root Financial Partners LLC now owns 234 shares of the company's stock valued at $33,000 after buying an additional 150 shares in the last quarter. Finally, Rockefeller Capital Management L.P. increased its position in shares of Chord Energy by 213.1% in the fourth quarter. Rockefeller Capital Management L.P. now owns 501 shares of the company's stock valued at $47,000 after buying an additional 341 shares in the last quarter. 97.76% of the stock is owned by institutional investors and hedge funds.

About Chord Energy

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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