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

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

Several research analysts have recently weighed in on the stock. UBS Group initiated coverage on shares of Chord Energy in a report on Wednesday. They issued a "buy" rating and a $168.00 price target on the stock. Jefferies Financial Group began coverage on Chord Energy in a research note on Thursday, September 5th. They set a "hold" rating and a $160.00 price objective on the stock. Royal Bank of Canada reiterated an "outperform" rating and set a $200.00 price target on shares of Chord Energy in a report on Friday, September 20th. BMO Capital Markets cut their price target on shares of Chord Energy from $205.00 to $175.00 and set an "outperform" rating on the stock in a report on Friday, October 4th. Finally, Siebert Williams Shank raised shares of Chord Energy to a "strong-buy" rating in a research note on Tuesday, October 15th.

Insider Activity

In other news, Director Samantha Holroyd purchased 500 shares of Chord Energy stock in a transaction that occurred on Friday, August 23rd. The shares were bought at an average cost of $149.51 per share, with a total value of $74,755.00. Following the completion of the purchase, the director now directly owns 14,417 shares in the company, valued at approximately $2,155,485.67. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.70% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Chord Energy

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Fortem Financial Group LLC boosted its position in shares of Chord Energy by 1.6% in the 1st quarter. Fortem Financial Group LLC now owns 5,958 shares of the company's stock worth $1,062,000 after purchasing an additional 91 shares in the last quarter. GAMMA Investing LLC raised its stake in Chord Energy by 30.6% during the third quarter. GAMMA Investing LLC now owns 414 shares of the company's stock valued at $54,000 after buying an additional 97 shares during the last quarter. UMB Bank n.a. boosted its holdings in Chord Energy by 77.7% in the third quarter. UMB Bank n.a. now owns 231 shares of the company's stock worth $30,000 after acquiring an additional 101 shares in the last quarter. Benjamin F. Edwards & Company Inc. grew its stake in shares of Chord Energy by 125.9% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 244 shares of the company's stock worth $41,000 after acquiring an additional 136 shares during the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd grew its stake in shares of Chord Energy by 2.7% in the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 5,464 shares of the company's stock worth $712,000 after acquiring an additional 145 shares during the last quarter. Hedge funds and other institutional investors own 97.76% of the company's stock.

Chord Energy Stock Performance

Shares of NASDAQ CHRD traded down $0.60 during mid-day trading on Friday, hitting $129.98. The company had a trading volume of 815,115 shares, compared to its average volume of 825,864. The company has a current ratio of 0.96, a quick ratio of 0.91 and a debt-to-equity ratio of 0.11. Chord Energy has a 1 year low of $126.38 and a 1 year high of $190.23. The company has a market capitalization of $5.42 billion, a price-to-earnings ratio of 6.10, a P/E/G ratio of 5.06 and a beta of 0.97. The stock's 50-day moving average price is $139.02 and its 200-day moving average price is $161.83.

Chord Energy (NASDAQ:CHRD - Get Free Report) last posted its earnings results on Wednesday, August 7th. The company reported $4.69 earnings per share for the quarter, missing analysts' consensus estimates of $5.00 by ($0.31). Chord Energy had a net margin of 20.83% and a return on equity of 15.06%. The company had revenue of $902.70 million for the quarter, compared to analysts' expectations of $982.43 million. During the same period in the previous year, the firm earned $3.65 EPS. The firm's quarterly revenue was up 29.8% compared to the same quarter last year. On average, sell-side analysts forecast that Chord Energy will post 17.32 earnings per share for the current year.

Chord Energy Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 5th. Stockholders of record on Wednesday, August 21st were given a $1.25 dividend. This represents a $5.00 annualized dividend and a dividend yield of 3.85%. The ex-dividend date of this dividend was Wednesday, August 21st. Chord Energy's dividend payout ratio is currently 23.46%.

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.