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

Shares of Chord Energy Co. (NASDAQ:CHRD - Get Free Report) have been given an average recommendation of "Moderate Buy" by the fourteen ratings firms that are presently covering the company, Marketbeat.com reports. Three research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $173.08.

Several research firms have recently issued reports on CHRD. Siebert Williams Shank upgraded shares of Chord Energy to a "strong-buy" rating in a research report on Tuesday, October 15th. BMO Capital Markets reduced their target price on Chord Energy from $205.00 to $175.00 and set an "outperform" rating on the stock in a report on Friday, October 4th. Truist Financial boosted their price target on shares of Chord Energy from $185.00 to $186.00 and gave the stock a "buy" rating in a research report on Monday, January 13th. Morgan Stanley started coverage on shares of Chord Energy in a report on Friday, January 10th. They issued an "equal weight" rating and a $158.00 price target on the stock. Finally, Royal Bank of Canada dropped their price objective on Chord Energy from $185.00 to $180.00 and set an "outperform" rating on the stock in a research report on Wednesday, November 20th.

Insider Buying and Selling

In related news, CAO Shannon Browning Kinney sold 1,000 shares of the firm's stock in a transaction dated Monday, December 16th. The shares were 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 in the company, valued at $2,267,428.80. This trade represents a 4.88 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.70% of the company's stock.

Hedge Funds Weigh In On Chord Energy

Hedge funds have recently bought and sold shares of the company. Pacer Advisors Inc. raised its position in Chord Energy by 8,762.1% during the third quarter. Pacer Advisors Inc. now owns 1,245,034 shares of the company's stock worth $162,141,000 after acquiring an additional 1,230,985 shares during the last quarter. Victory Capital Management Inc. raised its position in shares of 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 purchasing an additional 656,374 shares during the last quarter. Point72 Asset Management L.P. raised its position in shares of Chord Energy by 143.8% during the 3rd quarter. Point72 Asset Management L.P. now owns 880,787 shares of the company's stock worth $114,705,000 after purchasing an additional 519,547 shares during the last quarter. KGH Ltd raised its holdings in shares of Chord Energy by 872.0% in the second quarter. KGH Ltd now owns 485,998 shares of the company's stock worth $81,492,000 after acquiring an additional 435,998 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC raised its holdings in shares of Chord Energy by 30.1% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 744,309 shares of the company's stock worth $88,459,000 after acquiring an additional 172,196 shares during the last quarter. 97.76% of the stock is owned by hedge funds and other institutional investors.

Chord Energy Stock Performance

Shares of NASDAQ CHRD traded down $3.29 during midday trading on Tuesday, hitting $112.41. 955,614 shares of the stock traded hands, compared to its average volume of 662,606. Chord Energy has a one year low of $109.59 and a one year high of $190.23. The firm has a 50-day moving average of $120.45 and a two-hundred day moving average of $134.71. 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 capitalization of $6.87 billion, a P/E ratio of 5.79, a PEG ratio of 5.89 and a beta of 0.99.

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 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 company had revenue of $1.12 billion during the quarter, compared to the consensus estimate of $1.26 billion. During the same period last year, the business earned $5.04 EPS. The firm's quarterly revenue was up 33.4% compared to the same quarter last year. On average, equities analysts forecast that Chord Energy will post 15.59 EPS for the current fiscal year.

Chord Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Wednesday, November 27th were paid a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a yield of 4.45%. The ex-dividend date was Wednesday, November 27th. 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.