Analysts Set Chord Energy Co. (NASDAQ:CHRD) Target Price at $195.50

Shares of Chord Energy Co. (NASDAQ:CHRD - Get Free Report) have been given a consensus recommendation of "Moderate Buy" by the nine ratings firms that are currently covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have issued a buy rating on the company. The average 1 year price target among brokerages that have covered the stock in the last year is $195.50.

A number of equities analysts have commented on the company. Mizuho raised their price objective on Chord Energy from $195.00 to $214.00 and gave the stock a "buy" rating in a research note on Monday, May 13th. Stifel Nicolaus raised their price objective on Chord Energy from $178.00 to $211.00 and gave the stock a "buy" rating in a research note on Tuesday, February 27th. Piper Sandler raised their price objective on Chord Energy from $230.00 to $231.00 and gave the stock an "overweight" rating in a research note on Tuesday, May 14th. Royal Bank of Canada raised their price objective on Chord Energy from $180.00 to $200.00 and gave the stock an "outperform" rating in a research note on Monday, April 29th. Finally, Truist Financial decreased their price target on Chord Energy from $229.00 to $224.00 and set a "buy" rating on the stock in a research note on Friday, April 5th.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. FMR LLC lifted its stake in shares of Chord Energy by 12.9% in the 3rd quarter. FMR LLC now owns 3,185,243 shares of the company's stock valued at $516,232,000 after purchasing an additional 364,673 shares during the period. American Century Companies Inc. increased its position in Chord Energy by 158.5% in the 3rd quarter. American Century Companies Inc. now owns 483,447 shares of the company's stock valued at $78,352,000 after buying an additional 296,443 shares in the last quarter. Boston Partners increased its position in Chord Energy by 50.8% in the 4th quarter. Boston Partners now owns 630,977 shares of the company's stock valued at $104,815,000 after buying an additional 212,463 shares in the last quarter. AQR Capital Management LLC increased its position in Chord Energy by 119.3% in the 3rd quarter. AQR Capital Management LLC now owns 368,557 shares of the company's stock valued at $59,732,000 after buying an additional 200,502 shares in the last quarter. Finally, Jennison Associates LLC increased its position in Chord Energy by 40.5% in the 1st quarter. Jennison Associates LLC now owns 524,712 shares of the company's stock valued at $93,525,000 after buying an additional 151,218 shares in the last quarter. 97.76% of the stock is owned by institutional investors and hedge funds.

Chord Energy Stock Performance

Shares of NASDAQ CHRD traded down $1.04 during trading hours on Thursday, reaching $176.64. 738,814 shares of the stock were exchanged, compared to its average volume of 666,484. The firm has a market capitalization of $7.36 billion, a price-to-earnings ratio of 8.29 and a beta of 1.07. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.07 and a current ratio of 1.14. Chord Energy has a 52 week low of $142.02 and a 52 week high of $190.23. The stock's fifty day simple moving average is $179.28 and its 200 day simple moving average is $167.01.

Chord Energy (NASDAQ:CHRD - Get Free Report) last announced its earnings results on Tuesday, May 7th. The company reported $5.10 earnings per share for the quarter, topping analysts' consensus estimates of $4.75 by $0.35. The company had revenue of $1.09 billion for the quarter, compared to analyst estimates of $771.87 million. Chord Energy had a return on equity of 16.57% and a net margin of 22.67%. The firm's quarterly revenue was up 24.8% compared to the same quarter last year. During the same quarter last year, the company earned $4.50 earnings per share. Sell-side analysts predict that Chord Energy will post 22.53 EPS for the current year.

Chord Energy Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 5th. Investors of record on Wednesday, May 22nd will be issued a dividend of $2.94 per share. This represents a $11.76 annualized dividend and a dividend yield of 6.66%. The ex-dividend date is Tuesday, May 21st. Chord Energy's dividend payout ratio (DPR) is 23.46%.

About Chord Energy

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.