Analysts Set Chord Energy Co. (NASDAQ:CHRD) PT at $182.55

Shares of Chord Energy Co. (NASDAQ:CHRD - Get Free Report) have been given a consensus recommendation of "Buy" by the thirteen ratings firms that are presently covering the stock, Marketbeat reports. One research analyst has rated the stock with a hold recommendation, eleven have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $180.25.

A number of research firms have recently weighed in on CHRD. Truist Financial cut their price objective on shares of Chord Energy from $223.00 to $185.00 and set a "buy" rating for the company in a research report on Monday, September 30th. Piper Sandler reduced their price target on Chord Energy from $212.00 to $194.00 and set an "overweight" rating on the stock in a research note on Tuesday, December 17th. UBS Group decreased their price objective on Chord Energy from $168.00 to $161.00 and set a "buy" rating on the stock in a report on Monday, December 9th. Wells Fargo & Company increased their target price on Chord Energy from $175.00 to $176.00 and gave the stock an "overweight" rating in a research report on Tuesday, December 17th. Finally, Wolfe Research upgraded Chord Energy from a "peer perform" rating to an "outperform" rating and set a $155.00 price target for the company in a report on Friday.

Chord Energy Price Performance

NASDAQ:CHRD traded up $2.06 during trading hours on Friday, reaching $120.95. 550,744 shares of the company traded hands, compared to its average volume of 580,122. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.93 and a quick ratio of 0.89. The firm's 50-day moving average is $122.86 and its 200-day moving average is $140.86. The stock has a market cap of $7.39 billion, a P/E ratio of 6.23, a P/E/G ratio of 4.79 and a beta of 0.96. Chord Energy has a 1-year low of $109.59 and a 1-year high of $190.23.

Chord Energy (NASDAQ:CHRD - Get Free Report) last posted its quarterly earnings data on Wednesday, November 6th. The company reported $3.40 EPS for the quarter, missing analysts' consensus estimates of $3.63 by ($0.23). Chord Energy had a net margin of 19.74% and a return on equity of 12.88%. The company had revenue of $1.12 billion for the quarter, compared to analyst estimates of $1.26 billion. During the same period in the previous year, the business earned $5.04 EPS. The firm's revenue was up 33.4% on a year-over-year basis. Equities research analysts expect that Chord Energy will post 16.5 earnings per share for the current fiscal year.

Chord Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Wednesday, November 27th were paid a dividend of $1.25 per share. The ex-dividend date of this dividend was Wednesday, November 27th. This represents a $5.00 annualized dividend and a yield of 4.13%. Chord Energy's dividend payout ratio is currently 25.75%.

Insider Transactions at Chord Energy

In other news, CAO Shannon Browning Kinney sold 1,000 shares of the company's stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $116.35, for a total value of $116,350.00. Following the completion of the sale, the chief accounting officer now owns 19,488 shares of the company's stock, valued at $2,267,428.80. This represents a 4.88 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.70% of the company's stock.

Institutional Investors Weigh In On Chord Energy

Several hedge funds have recently modified their holdings of CHRD. FMR LLC grew its position in Chord Energy by 2.2% in the third quarter. FMR LLC now owns 3,420,012 shares of the company's stock valued at $445,388,000 after acquiring an additional 74,165 shares in the last quarter. State Street Corp grew its holdings in Chord Energy by 0.9% during the 3rd quarter. State Street Corp now owns 2,485,777 shares of the company's stock valued at $323,723,000 after purchasing an additional 22,753 shares in the last quarter. Victory Capital Management Inc. increased its stake in Chord Energy by 41.3% during the 3rd quarter. Victory Capital Management Inc. now owns 2,245,435 shares of the company's stock worth $292,423,000 after buying an additional 656,374 shares during the period. Dimensional Fund Advisors LP lifted its holdings in Chord Energy by 72.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,771,780 shares of the company's stock worth $297,090,000 after buying an additional 741,705 shares in the last quarter. Finally, Pacer Advisors Inc. boosted its position in Chord Energy by 8,762.1% in the 3rd quarter. Pacer Advisors Inc. now owns 1,245,034 shares of the company's stock valued at $162,141,000 after buying an additional 1,230,985 shares during the last quarter. 97.76% of the stock is currently 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.