Chord Energy Co. (NASDAQ:CHRD) Given Average Recommendation of “Moderate Buy” by Analysts

Shares of Chord Energy Co. (NASDAQ:CHRD) have been assigned an average recommendation of “Moderate Buy” from the nine ratings firms that are presently covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have issued a buy rating on the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $193.50.

Several equities research analysts have commented on CHRD shares. Royal Bank of Canada upped their price objective on shares of Chord Energy from $180.00 to $200.00 and gave the company an “outperform” rating in a report on Monday. Bank of America lowered shares of Chord Energy from a “buy” rating to an “underperform” rating and reduced their price objective for the company from $177.00 to $165.00 in a research note on Friday, January 5th. Mizuho increased their target price on Chord Energy from $189.00 to $195.00 and gave the stock a “buy” rating in a research report on Thursday, March 14th. Truist Financial reduced their price target on Chord Energy from $229.00 to $224.00 and set a “buy” rating for the company in a research report on Friday, April 5th. Finally, Piper Sandler increased their price objective on Chord Energy from $219.00 to $230.00 and gave the stock an “overweight” rating in a report on Friday, April 19th.

Chord Energy Stock Performance

Shares of CHRD stock opened at $175.29 on Friday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.16 and a current ratio of 1.22. The firm has a market cap of $7.28 billion, a price-to-earnings ratio of 7.45 and a beta of 1.07. Chord Energy has a 52 week low of $133.34 and a 52 week high of $190.23. The firm’s 50-day simple moving average is $174.03 and its two-hundred day simple moving average is $165.83.

Chord Energy (NASDAQ:CHRD) last posted its quarterly earnings data on Wednesday, February 21st. The company reported $5.25 EPS for the quarter, beating the consensus estimate of $5.04 by $0.21. Chord Energy had a return on equity of 16.35% and a net margin of 26.27%. The business had revenue of $964.69 million for the quarter, compared to the consensus estimate of $891.67 million. As a group, equities analysts forecast that Chord Energy will post 22.03 earnings per share for the current year.

Chord Energy Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 19th. Stockholders of record on Tuesday, March 5th were given a dividend of $3.25 per share. This represents a $13.00 dividend on an annualized basis and a dividend yield of 7.42%. The ex-dividend date of this dividend was Monday, March 4th. This is an increase from Chord Energy’s previous quarterly dividend of $1.25. Chord Energy’s dividend payout ratio (DPR) is 21.25%.

Insider Buying and Selling

In other Chord Energy news, CFO Michael H. Lou sold 3,000 shares of Chord Energy stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $165.00, for a total transaction of $495,000.00. Following the completion of the sale, the chief financial officer now owns 128,209 shares of the company’s stock, valued at $21,154,485. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.70% of the stock is owned by company insiders.

Institutional Trading of Chord Energy

Institutional investors have recently added to or reduced their stakes in the business. Vest Financial LLC increased its stake in shares of Chord Energy by 36.0% in the fourth quarter. Vest Financial LLC now owns 79,293 shares of the company’s stock worth $13,181,000 after buying an additional 20,995 shares during the period. Federated Hermes Inc. grew its stake in shares of Chord Energy by 35.4% in the fourth quarter. Federated Hermes Inc. now owns 38,517 shares of the company’s stock worth $6,403,000 after purchasing an additional 10,075 shares during the last quarter. Allspring Global Investments Holdings LLC increased its holdings in Chord Energy by 12.3% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 491,737 shares of the company’s stock valued at $81,742,000 after purchasing an additional 53,992 shares during the period. Natixis Advisors L.P. raised its position in Chord Energy by 68.5% during the 3rd quarter. Natixis Advisors L.P. now owns 38,458 shares of the company’s stock valued at $6,233,000 after purchasing an additional 15,632 shares during the last quarter. Finally, Monument Capital Management purchased a new stake in Chord Energy in the 4th quarter worth approximately $2,035,000. 97.76% of the stock is currently owned by hedge funds and other institutional investors.

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.