Brokerages Set Chord Energy Co. (NASDAQ:CHRD) PT at $191.50

Chord Energy Co. (NASDAQ:CHRD) has earned a consensus recommendation of “Moderate Buy” from the nine analysts that are covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, one has given a hold recommendation and seven have assigned a buy recommendation to the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $193.50.

Several research firms have weighed in on CHRD. Mizuho upped their price target on Chord Energy from $189.00 to $195.00 and gave the stock a “buy” rating in a research note on Thursday, March 14th. Stifel Nicolaus upped their price target on Chord Energy from $178.00 to $211.00 and gave the stock a “buy” rating in a research note on Tuesday, February 27th. Truist Financial lowered their target price 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. Piper Sandler increased their target price on Chord Energy from $219.00 to $230.00 and gave the company an “overweight” rating in a research report on Friday, April 19th. Finally, Bank of America downgraded Chord Energy from a “buy” rating to an “underperform” rating and lowered their target price for the company from $177.00 to $165.00 in a research report on Friday, January 5th.

Insider Transactions at Chord Energy

In other news, CFO Michael H. Lou sold 3,000 shares of the firm’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $165.00, for a total transaction of $495,000.00. Following the transaction, the chief financial officer now owns 128,209 shares in the company, valued at $21,154,485. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.70% of the company’s stock.

Hedge Funds Weigh In On Chord Energy

Several institutional investors and hedge funds have recently added to or reduced their stakes in CHRD. Retirement Systems of Alabama grew its stake in shares of Chord Energy by 18.4% during the first quarter. Retirement Systems of Alabama now owns 118,134 shares of the company’s stock worth $21,056,000 after acquiring an additional 18,335 shares during the last quarter. Allspring Global Investments Holdings LLC grew its stake in shares of Chord Energy by 8.2% during the first quarter. Allspring Global Investments Holdings LLC now owns 532,144 shares of the company’s stock worth $94,849,000 after acquiring an additional 40,407 shares during the last quarter. Commonwealth Equity Services LLC grew its stake in shares of Chord Energy by 140.4% during the first quarter. Commonwealth Equity Services LLC now owns 29,577 shares of the company’s stock worth $5,272,000 after acquiring an additional 17,273 shares during the last quarter. Principal Financial Group Inc. grew its stake in shares of Chord Energy by 1.9% during the first quarter. Principal Financial Group Inc. now owns 391,956 shares of the company’s stock worth $69,862,000 after acquiring an additional 7,353 shares during the last quarter. Finally, Benjamin Edwards Inc. grew its stake in shares of Chord Energy by 47.5% during the first quarter. Benjamin Edwards Inc. now owns 2,352 shares of the company’s stock worth $419,000 after acquiring an additional 757 shares during the last quarter. Hedge funds and other institutional investors own 97.76% of the company’s stock.

Chord Energy Trading Down 4.0 %

Shares of NASDAQ:CHRD opened at $176.98 on Friday. The stock has a 50 day moving average of $173.66 and a 200 day moving average of $165.70. The company has a market cap of $7.35 billion, a PE ratio of 7.52 and a beta of 1.06. The company has a current ratio of 1.22, a quick ratio of 1.16 and a debt-to-equity ratio of 0.08. Chord Energy has a 12-month low of $133.34 and a 12-month high of $190.23.

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

Chord Energy Increases Dividend

The firm also recently announced 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 annualized dividend and a dividend yield of 7.35%. This is an increase from Chord Energy’s previous quarterly dividend of $1.25. The ex-dividend date was Monday, March 4th. Chord Energy’s dividend payout ratio (DPR) is 21.25%.

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.