Brokerages Set Chord Energy Co. (NASDAQ:CHRD) PT at $188.45

Shares of Chord Energy Co. (NASDAQ:CHRD - Get Free Report) have received a consensus recommendation of "Moderate Buy" from the thirteen brokerages that are currently covering the stock, Marketbeat Ratings reports. Two analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. The average 1 year price target among brokers that have covered the stock in the last year is $188.45.

A number of research firms have recently weighed in on CHRD. Citigroup dropped their price target on shares of Chord Energy from $195.00 to $180.00 and set a "buy" rating on the stock in a research note on Monday, August 12th. Wells Fargo & Company dropped their price target on shares of Chord Energy from $185.00 to $180.00 and set an "overweight" rating on the stock in a research note on Wednesday, October 16th. Royal Bank of Canada lowered their target price on shares of Chord Energy from $185.00 to $180.00 and set an "outperform" rating on the stock in a research report on Wednesday, November 20th. Bank of America increased their target price on shares of Chord Energy from $201.00 to $208.00 and gave the stock a "buy" rating in a research report on Wednesday, August 21st. Finally, Jefferies Financial Group began coverage on shares of Chord Energy in a research report on Thursday, September 5th. They set a "hold" rating and a $160.00 target price on the stock.

Institutional Investors Weigh In On Chord Energy

Hedge funds have recently bought and sold shares of the company. FMR LLC lifted its stake in shares of 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 buying an additional 74,165 shares during the period. State Street Corp lifted its stake in shares of Chord Energy by 0.9% in the third quarter. State Street Corp now owns 2,485,777 shares of the company's stock valued at $323,723,000 after buying an additional 22,753 shares during the period. Victory Capital Management Inc. lifted its stake in shares of Chord Energy by 41.3% in the third quarter. Victory Capital Management Inc. now owns 2,245,435 shares of the company's stock valued at $292,423,000 after buying an additional 656,374 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of Chord Energy by 72.0% in the second quarter. Dimensional Fund Advisors LP now owns 1,771,780 shares of the company's stock valued at $297,090,000 after buying an additional 741,705 shares during the period. Finally, Pacer Advisors Inc. lifted its stake in shares of Chord Energy by 8,762.1% in the third 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 period. 97.76% of the stock is currently owned by institutional investors.

Chord Energy Stock Up 1.8 %

NASDAQ:CHRD traded up $2.13 during trading hours on Monday, hitting $119.33. 837,201 shares of the stock traded hands, compared to its average volume of 893,776. The firm has a 50 day moving average price of $129.00 and a 200 day moving average price of $148.21. The company has a current ratio of 0.93, a quick ratio of 0.89 and a debt-to-equity ratio of 0.10. Chord Energy has a fifty-two week low of $115.96 and a fifty-two week high of $190.23. The firm has a market cap of $7.29 billion, a price-to-earnings ratio of 6.14, a PEG ratio of 4.70 and a beta of 0.96.

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

Chord Energy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Wednesday, November 27th will be issued a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a yield of 4.19%. The ex-dividend date is Wednesday, November 27th. Chord Energy's dividend payout ratio (DPR) is 25.75%.

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.