Chord Energy (NASDAQ:CHRD) Earns Neutral Rating from Bank of America

Bank of America reaffirmed their neutral rating on shares of Chord Energy (NASDAQ:CHRD - Free Report) in a research report sent to investors on Monday morning, MarketBeat Ratings reports. Bank of America currently has a $138.00 price objective on the stock, down from their previous price objective of $208.00.

Other research analysts also recently issued research reports about the company. BMO Capital Markets dropped their price target on Chord Energy from $205.00 to $175.00 and set an "outperform" rating on the stock in a research note on Friday, October 4th. Morgan Stanley assumed coverage on Chord Energy in a research note on Friday. They issued an "equal weight" rating and a $158.00 target price on the stock. UBS Group lowered their target price on Chord Energy from $168.00 to $161.00 and set a "buy" rating on the stock in a research note on Monday, December 9th. Piper Sandler lowered their target price 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. Finally, Royal Bank of Canada lowered their target price on Chord Energy from $185.00 to $180.00 and set an "outperform" rating on the stock in a research note on Wednesday, November 20th. Three analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $173.23.

Chord Energy Stock Performance

NASDAQ:CHRD traded up $1.66 during mid-day trading on Monday, reaching $125.44. 91,114 shares of the stock were exchanged, compared to its average volume of 580,709. The company has a 50 day simple moving average of $122.59 and a 200-day simple moving average of $139.13. The stock has a market capitalization of $7.67 billion, a P/E ratio of 6.46, a P/E/G ratio of 4.79 and a beta of 0.99. The company has a quick ratio of 0.89, a current ratio of 0.93 and a debt-to-equity ratio of 0.10. 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 released its quarterly earnings results on Wednesday, November 6th. The company reported $3.40 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $3.63 by ($0.23). The firm had revenue of $1.12 billion for the quarter, compared to analysts' expectations of $1.26 billion. Chord Energy had a return on equity of 12.88% and a net margin of 19.74%. The company's quarterly revenue was up 33.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $5.04 EPS. Analysts anticipate that Chord Energy will post 16.5 earnings per share for the current fiscal year.

Chord Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Wednesday, November 27th were issued a dividend of $1.25 per share. The ex-dividend date was Wednesday, November 27th. This represents a $5.00 annualized dividend and a yield of 3.99%. Chord Energy's dividend payout ratio is presently 25.75%.

Insider Buying and Selling

In other news, CAO Shannon Browning Kinney sold 1,000 shares of the business's stock in a transaction on 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 transaction, the chief accounting officer now directly owns 19,488 shares of the company's stock, valued at $2,267,428.80. The trade was a 4.88 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.70% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Chord Energy

A number of institutional investors have recently made changes to their positions in CHRD. GAMMA Investing LLC grew its position in shares of Chord Energy by 30.6% in the third quarter. GAMMA Investing LLC now owns 414 shares of the company's stock valued at $54,000 after purchasing an additional 97 shares during the period. Commerce Bank grew its position in shares of Chord Energy by 4.3% in the third quarter. Commerce Bank now owns 2,361 shares of the company's stock valued at $307,000 after purchasing an additional 98 shares during the period. New York State Teachers Retirement System grew its position in shares of Chord Energy by 0.4% in 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 period. UMB Bank n.a. grew its position in shares of Chord Energy by 77.7% in the third quarter. UMB Bank n.a. now owns 231 shares of the company's stock valued at $30,000 after purchasing an additional 101 shares during the period. Finally, Lindenwold Advisors INC grew its position 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 valued at $329,000 after purchasing an additional 119 shares during the period. 97.76% of the stock is owned by institutional investors and hedge funds.

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.