Chord Energy Co. (NASDAQ:CHRD) Receives Average Recommendation of "Moderate Buy" from Brokerages

Chord Energy Co. (NASDAQ:CHRD - Get Free Report) has been given a consensus recommendation of "Moderate Buy" by the nine research firms that are covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell rating, one has issued a hold rating and seven have issued a buy rating on the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $191.50.

A number of equities research analysts have commented on CHRD shares. Stifel Nicolaus lifted their target price on shares of Chord Energy from $178.00 to $211.00 and gave the stock a "buy" rating in a research report on Tuesday, February 27th. Truist Financial cut their target price on shares of Chord Energy from $229.00 to $224.00 and set a "buy" rating for the company in a research report on Friday, April 5th. Bank of America downgraded shares of Chord Energy from a "buy" rating to an "underperform" rating and cut their target price for the stock from $177.00 to $165.00 in a research report on Friday, January 5th. Piper Sandler boosted their price objective on shares of Chord Energy from $219.00 to $230.00 and gave the company an "overweight" rating in a research report on Friday, April 19th. Finally, Mizuho boosted their price objective on shares of Chord Energy from $189.00 to $195.00 and gave the company a "buy" rating in a research report on Thursday, March 14th.

Chord Energy Stock Performance

NASDAQ:CHRD traded up $1.00 during trading hours on Friday, reaching $185.58. The company had a trading volume of 437,929 shares, compared to its average volume of 568,352. The company has a current ratio of 1.22, a quick ratio of 1.16 and a debt-to-equity ratio of 0.08. Chord Energy has a 52 week low of $133.34 and a 52 week high of $190.23. The firm has a market cap of $7.71 billion, a price-to-earnings ratio of 7.89 and a beta of 1.06. The firm's 50 day moving average price is $172.98 and its 200-day moving average price is $165.48.

Chord Energy (NASDAQ:CHRD - Get Free Report) last posted its earnings results on Wednesday, February 21st. The company reported $5.25 EPS for the quarter, topping analysts' consensus estimates of $5.04 by $0.21. Chord Energy had a net margin of 26.27% and a return on equity of 16.35%. The business had revenue of $964.69 million during the quarter, compared to the consensus estimate of $891.67 million. On average, analysts forecast that Chord Energy will post 22.03 EPS for the current year.

Chord Energy Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 19th. Investors of record on Tuesday, March 5th were paid a dividend of $3.25 per share. This is a boost from Chord Energy's previous quarterly dividend of $1.25. The ex-dividend date of this dividend was Monday, March 4th. This represents a $13.00 dividend on an annualized basis and a dividend yield of 7.01%. Chord Energy's payout ratio is 21.25%.

Insider Activity at Chord Energy

In related news, CFO Michael H. Lou sold 3,000 shares of Chord Energy stock in a transaction on Friday, February 16th. The shares were sold at an average price of $165.00, for a total transaction of $495,000.00. Following the transaction, the chief financial officer now owns 128,209 shares in the company, valued at approximately $21,154,485. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.70% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Vest Financial LLC lifted its stake in shares of Chord Energy by 36.0% during the 4th quarter. Vest Financial LLC now owns 79,293 shares of the company's stock valued at $13,181,000 after buying an additional 20,995 shares in the last quarter. Federated Hermes Inc. lifted its stake in Chord Energy by 35.4% in the 4th quarter. Federated Hermes Inc. now owns 38,517 shares of the company's stock worth $6,403,000 after purchasing an additional 10,075 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its stake in Chord Energy by 12.3% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 491,737 shares of the company's stock worth $81,742,000 after purchasing an additional 53,992 shares in the last quarter. Natixis Advisors L.P. lifted its stake in Chord Energy by 68.5% in the 3rd quarter. Natixis Advisors L.P. now owns 38,458 shares of the company's stock worth $6,233,000 after purchasing an additional 15,632 shares in the last quarter. Finally, Monument Capital Management purchased a new stake in Chord Energy in the 4th quarter worth $2,035,000. Hedge funds and other institutional investors 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.