Chord Energy (NASDAQ:CHRD) Upgraded by Wall Street Zen to "Hold" Rating

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

A number of other brokerages also recently issued reports on CHRD. Mizuho dropped their price target on shares of Chord Energy from $154.00 to $150.00 and set an "outperform" rating on the stock in a research report on Tuesday, May 13th. Citigroup lowered their price objective on shares of Chord Energy from $135.00 to $120.00 and set a "buy" rating for the company in a research note on Monday, April 7th. Piper Sandler lowered their price objective on shares of Chord Energy from $184.00 to $183.00 and set an "overweight" rating for the company in a research note on Tuesday, April 22nd. Bank of America lowered their price objective on shares of 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, Williams Trading set a $155.00 price objective on shares of Chord Energy in a research note on Wednesday, March 5th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $152.54.

Chord Energy Price Performance

Shares of CHRD traded down $1.85 during mid-day trading on Friday, reaching $96.85. The company had a trading volume of 669,100 shares, compared to its average volume of 856,028. The company's 50 day simple moving average is $95.69 and its 200 day simple moving average is $105.17. Chord Energy has a 1-year low of $79.83 and a 1-year high of $181.17. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.83 and a current ratio of 0.89. The company has a market capitalization of $5.59 billion, a price-to-earnings ratio of 6.32 and a beta of 0.96.

Chord Energy (NASDAQ:CHRD - Get Free Report) last posted its earnings results on Tuesday, May 6th. The company reported $4.04 EPS for the quarter, topping the consensus estimate of $3.60 by $0.44. Chord Energy had a net margin of 16.15% and a return on equity of 10.34%. The business had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.07 billion. During the same period last year, the company earned $5.10 EPS. The firm's revenue was up 12.0% compared to the same quarter last year. Analysts expect that Chord Energy will post 15.59 EPS for the current year.

Chord Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 9th. Investors of record on Wednesday, May 21st were issued a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a dividend yield of 5.37%. The ex-dividend date was Wednesday, May 21st. Chord Energy's dividend payout ratio (DPR) is currently 34.78%.

Insider Buying and Selling at Chord Energy

In related news, EVP Shannon Browning Kinney sold 3,091 shares of the business's stock in a transaction dated Thursday, May 8th. The shares were sold at an average price of $94.10, for a total value of $290,863.10. Following the transaction, the executive vice president directly owned 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.70% of the company's stock.

Hedge Funds Weigh In On Chord Energy

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Altshuler Shaham Ltd purchased a new stake in Chord Energy during the fourth quarter valued at about $25,000. Twin Tree Management LP purchased a new stake in Chord Energy during the fourth quarter valued at about $33,000. Larson Financial Group LLC lifted its holdings in Chord Energy by 238.3% during the fourth quarter. Larson Financial Group LLC now owns 318 shares of the company's stock valued at $37,000 after purchasing an additional 224 shares during the last quarter. Hexagon Capital Partners LLC lifted its holdings in Chord Energy by 321.7% during the first quarter. Hexagon Capital Partners LLC now owns 447 shares of the company's stock valued at $50,000 after purchasing an additional 341 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd increased its position in shares of Chord Energy by 5,877.8% during the first quarter. Caitong International Asset Management Co. Ltd now owns 538 shares of the company's stock valued at $61,000 after buying an additional 529 shares during the period. 97.76% of the stock is owned by hedge funds and other 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.