Chord Energy (NASDAQ:CHRD) Rating Lowered to "Sell" at Wall Street Zen

Wall Street Zen lowered shares of Chord Energy (NASDAQ:CHRD - Free Report) from a hold rating to a sell rating in a research report sent to investors on Friday.

Several other research analysts have also weighed in on CHRD. Royal Bank of Canada lowered their price target on Chord Energy from $165.00 to $145.00 and set an "outperform" rating on the stock in a research report on Friday, April 11th. Williams Trading set a $155.00 target price on Chord Energy in a research note on Wednesday, March 5th. Morgan Stanley set a $139.00 target price on Chord Energy and gave the stock a "cautious" rating in a research note on Wednesday, March 26th. Bank of America reduced their target price on Chord Energy from $114.00 to $112.00 and set a "buy" rating for the company in a research note on Friday, May 23rd. Finally, Piper Sandler reduced their target price on Chord Energy from $184.00 to $183.00 and set an "overweight" rating for the company in a research note on Tuesday, April 22nd. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Chord Energy presently has an average rating of "Moderate Buy" and an average target price of $153.77.

Chord Energy Stock Up 2.1%

Shares of NASDAQ:CHRD traded up $1.91 during trading on Friday, hitting $91.91. 982,759 shares of the company were exchanged, compared to its average volume of 937,952. The stock has a market cap of $5.31 billion, a price-to-earnings ratio of 4.73, a P/E/G ratio of 5.83 and a beta of 0.99. Chord Energy has a fifty-two week low of $79.83 and a fifty-two week high of $188.02. The firm has a fifty day moving average price of $94.09 and a two-hundred day moving average price of $108.55. The company has a current ratio of 0.93, a quick ratio of 0.89 and a debt-to-equity ratio of 0.10.

Chord Energy (NASDAQ:CHRD - Get Free Report) last posted its quarterly earnings results on Tuesday, May 6th. The company reported $4.04 earnings per share for the quarter, topping the consensus estimate of $3.60 by $0.44. The firm had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.07 billion. Chord Energy had a return on equity of 12.88% and a net margin of 19.74%. The business's quarterly revenue was up 12.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $5.10 EPS. As a group, research analysts anticipate that Chord Energy will post 15.59 earnings per share for the current fiscal year.

Chord Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 9th. Shareholders of record on Wednesday, May 21st will be issued a $1.30 dividend. The ex-dividend date of this dividend is Wednesday, May 21st. This represents a $5.20 annualized dividend and a yield of 5.66%. Chord Energy's dividend payout ratio is presently 34.78%.

Insider Buying and Selling at Chord Energy

In other news, EVP Shannon Browning Kinney sold 3,091 shares of the business's stock in a transaction on Thursday, May 8th. The stock was sold at an average price of $94.10, for a total transaction of $290,863.10. Following the completion of the transaction, the executive vice president now owns 21,277 shares of the company's stock, valued at approximately $2,002,165.70. The trade was a 12.68% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.70% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of CHRD. Altshuler Shaham Ltd bought a new position in shares of Chord Energy in the fourth quarter worth about $25,000. Twin Tree Management LP bought a new position in shares of Chord Energy in the fourth quarter worth about $33,000. Larson Financial Group LLC lifted its holdings in shares of Chord Energy by 238.3% in the fourth quarter. Larson Financial Group LLC now owns 318 shares of the company's stock worth $37,000 after acquiring an additional 224 shares during the last quarter. Hexagon Capital Partners LLC lifted its holdings in shares of Chord Energy by 321.7% in the first quarter. Hexagon Capital Partners LLC now owns 447 shares of the company's stock worth $50,000 after acquiring an additional 341 shares during the last quarter. Finally, R Squared Ltd bought a new position in shares of Chord Energy in the fourth quarter worth about $51,000. Institutional investors and hedge funds own 97.76% of the company's stock.

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.