Chord Energy Co. (NASDAQ:CHRD) Receives $190.18 Consensus Price Target from Brokerages

Shares of Chord Energy Co. (NASDAQ:CHRD - Get Free Report) have received an average rating of "Moderate Buy" from the thirteen brokerages that are currently covering the firm, MarketBeat Ratings reports. Two investment analysts have rated the stock with a hold recommendation, ten have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $190.18.

CHRD has been the subject of a number of recent analyst reports. Citigroup decreased their price target on Chord Energy from $195.00 to $180.00 and set a "buy" rating for the company in a report on Monday, August 12th. Wells Fargo & Company lowered their target price on Chord Energy from $185.00 to $180.00 and set an "overweight" rating for the company in a report on Wednesday, October 16th. Piper Sandler increased their price target on Chord Energy from $206.00 to $211.00 and gave the stock an "overweight" rating in a report on Tuesday, October 15th. Jefferies Financial Group started coverage on shares of Chord Energy in a research note on Thursday, September 5th. They issued a "hold" rating and a $160.00 price objective for the company. Finally, UBS Group initiated coverage on shares of Chord Energy in a research note on Wednesday, October 16th. They set a "buy" rating and a $168.00 target price on the stock.

Insider Activity at Chord Energy

In other Chord Energy news, Director Samantha Holroyd bought 500 shares of the firm's stock in a transaction dated Friday, August 23rd. The stock was purchased at an average cost of $149.51 per share, with a total value of $74,755.00. Following the transaction, the director now directly owns 14,417 shares in the company, valued at $2,155,485.67. This trade represents a 3.59 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.70% of the stock is owned by insiders.

Hedge Funds Weigh In On Chord Energy

Institutional investors have recently added to or reduced their stakes in the stock. GAMMA Investing LLC increased its position in Chord Energy by 30.6% in the third quarter. GAMMA Investing LLC now owns 414 shares of the company's stock worth $54,000 after buying an additional 97 shares during the last quarter. Commerce Bank raised its stake in Chord Energy by 4.3% in the 3rd quarter. Commerce Bank now owns 2,361 shares of the company's stock valued at $307,000 after acquiring an additional 98 shares during the period. New York State Teachers Retirement System lifted its holdings in Chord Energy by 0.4% during the third quarter. New York State Teachers Retirement System now owns 27,274 shares of the company's stock valued at $3,552,000 after purchasing an additional 100 shares during the last quarter. UMB Bank n.a. boosted its position in Chord Energy by 77.7% during the third quarter. UMB Bank n.a. now owns 231 shares of the company's stock worth $30,000 after purchasing an additional 101 shares during the period. Finally, Lindenwold Advisors INC increased its stake in shares of Chord Energy by 5.0% in the third quarter. Lindenwold Advisors INC now owns 2,523 shares of the company's stock worth $329,000 after purchasing an additional 119 shares in the last quarter. Institutional investors own 97.76% of the company's stock.

Chord Energy Trading Up 1.4 %

Shares of CHRD stock traded up $1.84 on Thursday, hitting $130.89. The company had a trading volume of 671,188 shares, compared to its average volume of 880,826. Chord Energy has a twelve month low of $123.30 and a twelve month high of $190.23. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.89 and a current ratio of 0.93. The firm has a market cap of $8.00 billion, a P/E ratio of 6.74, a P/E/G ratio of 5.05 and a beta of 0.98. The stock's 50-day moving average is $131.48 and its two-hundred day moving average is $155.01.

Chord Energy (NASDAQ:CHRD - Get Free Report) last released its quarterly 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 return on equity of 12.88% and a net margin of 19.74%. The firm had revenue of $1.12 billion for the quarter, compared to the consensus estimate of $1.26 billion. During the same quarter in the previous year, the business posted $5.04 EPS. The firm's revenue for the quarter was up 33.4% compared to the same quarter last year. On average, equities research analysts anticipate that Chord Energy will post 16.87 earnings per share for the current fiscal year.

Chord Energy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Wednesday, November 27th will be issued a $1.25 dividend. The ex-dividend date is Wednesday, November 27th. This represents a $5.00 annualized dividend and a dividend yield of 3.82%. Chord Energy's dividend payout ratio is currently 25.75%.

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.