Chord Energy Corporation (NASDAQ:CHRD) Stock Has Average Target Price of $172.00

Key Points

• Analysts remain moderately bullish: Chord Energy has a “Moderate Buy” consensus from 17 analysts, with 13 buys and 4 holds. The average 12-month price target is $172, above the reported share price of $146.18.
• Revenue surged but earnings slightly missed estimates: Quarterly revenue rose 128.6% year over year to $2.17 billion, while EPS of $6.44 fell short of the $6.55 consensus. Analysts project full-year EPS of $20.71.
• Shareholders received a sizable dividend: Chord Energy paid a quarterly dividend of $1.30, equivalent to $5.20 annually and a 3.6% yield. Insiders sold 23,969 shares worth approximately $3.39 million during the latest quarter, while institutional investors own 97.76% of the stock.

Chord Energy Corporation (NASDAQ:CHRD - Get Free Report) has earned an average rating of "Moderate Buy" from the seventeen research firms that are currently covering the company, MarketBeat Ratings reports. Four investment analysts have rated the stock with a hold recommendation and thirteen have assigned a buy recommendation to the company. The average twelve-month target price among analysts that have covered the stock in the last year is $172.00.

Several equities analysts recently commented on CHRD shares. Seaport Research Partners started coverage on shares of Chord Energy in a research report on Thursday, September 3rd. They set a "neutral" rating for the company. Wells Fargo & Company cut their price target on shares of Chord Energy from $175.00 to $174.00 and set an "overweight" rating on the stock in a research note on Wednesday. Morgan Stanley lowered their price objective on shares of Chord Energy from $175.00 to $169.00 and set an "overweight" rating for the company in a research note on Monday, June 29th. Jefferies Financial Group lifted their target price on Chord Energy from $133.00 to $150.00 and gave the company a "hold" rating in a report on Friday, September 18th. Finally, Scotiabank began coverage on Chord Energy in a report on Wednesday. They issued an "outperform" rating and a $192.00 target price on the stock.

Chord Energy Price Performance

Shares of NASDAQ:CHRD opened at $146.18 on Thursday. The company has a market cap of $8.00 billion, a P/E ratio of 9.80 and a beta of 0.59. The business has a fifty day simple moving average of $142.71 and a 200-day simple moving average of $136.59. Chord Energy has a 52 week low of $84.25 and a 52 week high of $157.06. The company has a quick ratio of 1.15, a current ratio of 1.22 and a debt-to-equity ratio of 0.18.

Chord Energy (NASDAQ:CHRD - Get Free Report) last issued its quarterly earnings results on Wednesday, August 5th. The company reported $6.44 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $6.55 by ($0.11). The business had revenue of $2.17 billion during the quarter, compared to analyst estimates of $1.62 billion. Chord Energy had a return on equity of 10.18% and a net margin of 13.42%. The firm's quarterly revenue was up 128.6% on a year-over-year basis. During the same period in the previous year, the business posted $1.79 earnings per share. Equities research analysts forecast that Chord Energy will post 20.71 EPS for the current year.

Chord Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 4th. Stockholders of record on Thursday, August 20th were paid a $1.30 dividend. This represents a $5.20 annualized dividend and a dividend yield of 3.6%. The ex-dividend date of this dividend was Thursday, August 20th. Chord Energy's payout ratio is currently 34.85%.

Insider Buying and Selling

In related news, Director Douglas Brooks sold 8,000 shares of the firm's stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $133.14, for a total value of $1,065,120.00. Following the transaction, the director owned 10,705 shares in the company, valued at approximately $1,425,263.70. This trade represents a 42.77% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Samantha Mckinney sold 9,750 shares of Chord Energy stock in a transaction that occurred on Tuesday, September 1st. The shares were sold at an average price of $149.94, for a total transaction of $1,461,915.00. Following the transaction, the director directly owned 7,280 shares in the company, valued at approximately $1,091,563.20. This trade represents a 57.25% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 23,969 shares of company stock valued at $3,389,599. 0.79% of the stock is currently owned by corporate insiders.

Institutional Trading of Chord Energy

A number of institutional investors have recently added to or reduced their stakes in the business. Bessemer Group Inc. increased its stake in shares of Chord Energy by 63.8% in the first quarter. Bessemer Group Inc. now owns 190 shares of the company's stock worth $27,000 after buying an additional 74 shares during the last quarter. V Square Quantitative Management LLC bought a new position in Chord Energy during the 1st quarter valued at $29,000. Root Financial Partners LLC grew its holdings in Chord Energy by 178.6% during the 1st quarter. Root Financial Partners LLC now owns 234 shares of the company's stock worth $33,000 after acquiring an additional 150 shares in the last quarter. Versant Capital Management Inc grew its holdings in Chord Energy by 330.9% during the 2nd quarter. Versant Capital Management Inc now owns 237 shares of the company's stock worth $27,000 after acquiring an additional 182 shares in the last quarter. Finally, Blue Trust Inc. increased its position in shares of Chord Energy by 22.2% in the 1st quarter. Blue Trust Inc. now owns 463 shares of the company's stock worth $66,000 after purchasing an additional 84 shares during the last quarter. 97.76% of the stock is owned by hedge funds and other institutional investors.

About Chord Energy

Chord Energy Corporation is an independent exploration and production company focused on developing and producing crude oil, natural gas and natural gas liquids. The company's operations are concentrated in the Williston Basin, primarily in the Bakken and Three Forks formations of North Dakota and Montana.

Chord Energy's activities include acquiring, exploring, drilling and operating oil and natural gas properties. Its portfolio is largely composed of developed, producing assets and undeveloped acreage in the Williston Basin, where the company uses horizontal drilling and hydraulic fracturing to produce hydrocarbons.

The company was formed through the 2022 merger of Oasis Petroleum Inc and Whiting Petroleum Corporation, bringing together complementary Bakken-focused operations.

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