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

Key Points

• Analysts maintain a “Moderate Buy” consensus on Chord Energy, with 11 buy ratings and five holds among 16 analysts. The average 12-month price target is $152.38, above the reported $140.38 share price.
• Chord Energy exceeded quarterly expectations, reporting $4.56 in EPS versus the $3.51 consensus and $1.67 billion in revenue, up 37.1% year over year.
• The company paid a quarterly dividend of $1.30, equivalent to $5.20 annually and a 3.7% yield; however, insiders sold 9,276 shares worth about $1.29 million during the last quarter.

Chord Energy Corporation (NASDAQ:CHRD - Get Free Report) has received a consensus rating of "Moderate Buy" from the sixteen analysts that are currently covering the firm, Marketbeat Ratings reports. Five analysts have rated the stock with a hold recommendation and eleven have given a buy recommendation to the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $152.3846.

CHRD has been the topic of a number of analyst reports. UBS Group dropped their price objective on Chord Energy from $179.00 to $153.00 and set a "buy" rating on the stock in a research note on Friday, July 10th. Williams Trading set a $189.00 target price on shares of Chord Energy in a research note on Monday, April 20th. Morgan Stanley lowered their target price on shares of Chord Energy from $175.00 to $169.00 and set an "overweight" rating on the stock in a report on Monday, June 29th. Weiss Ratings reaffirmed a "hold (c-)" rating on shares of Chord Energy in a research report on Friday, June 12th. Finally, BMO Capital Markets reiterated an "outperform" rating on shares of Chord Energy in a research note on Monday, June 29th.

Chord Energy Trading Up 1.5%

Chord Energy stock opened at $140.38 on Friday. The firm has a 50-day moving average of $128.26 and a 200-day moving average of $123.88. Chord Energy has a one year low of $84.25 and a one year high of $151.95. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.02 and a quick ratio of 0.96. The company has a market cap of $7.90 billion, a price-to-earnings ratio of -124.23 and a beta of 0.49.

Chord Energy (NASDAQ:CHRD - Get Free Report) last released its earnings results on Tuesday, May 5th. The company reported $4.56 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.51 by $1.05. Chord Energy had a positive return on equity of 7.06% and a negative net margin of 1.25%.The business had revenue of $1.67 billion for the quarter, compared to the consensus estimate of $1.21 billion. During the same quarter in the previous year, the business earned $4.04 earnings per share. Chord Energy's quarterly revenue was up 37.1% on a year-over-year basis. On average, equities analysts expect that Chord Energy will post 18.32 earnings per share for the current fiscal year.

Chord Energy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 5th. Stockholders of record on Wednesday, May 20th were issued a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date of this dividend was Wednesday, May 20th. Chord Energy's dividend payout ratio is presently -460.18%.

Insider Activity

In related news, COO Darrin J. Henke sold 1,276 shares of the firm's stock in a transaction dated Friday, May 15th. The shares were sold at an average price of $145.97, for a total value of $186,257.72. Following the completion of the sale, the chief operating officer directly owned 21,157 shares in the company, valued at approximately $3,088,287.29. This trade represents a 5.69% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, 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 value of $207,855.00. Following the transaction, 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 position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 9,276 shares of company stock valued at $1,285,968 over the last quarter. 0.79% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in CHRD. Bessemer Group Inc. raised its stake in Chord Energy by 63.8% in the 1st 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. Versant Capital Management Inc boosted its position in Chord Energy by 330.9% during the second quarter. Versant Capital Management Inc now owns 237 shares of the company's stock worth $27,000 after purchasing an additional 182 shares during the period. V Square Quantitative Management LLC bought a new position in Chord Energy during the first quarter worth $29,000. WealthCollab LLC increased its holdings 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 purchasing an additional 145 shares during the last quarter. Finally, Root Financial Partners LLC increased its holdings 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 purchasing an additional 150 shares during the last quarter. 97.76% of the stock is currently owned by institutional investors.

Chord Energy Company Profile

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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