Brokerages Set Chord Energy Co. (NASDAQ:CHRD) Target Price at $190.18

Shares of Chord Energy Co. (NASDAQ:CHRD) have earned a consensus recommendation of “Moderate Buy” from the thirteen brokerages that are covering the firm, Marketbeat.com reports. Two analysts have rated the stock with a hold recommendation, ten have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $188.45.

Several analysts have issued reports on the stock. Citigroup dropped their price target on shares of Chord Energy from $195.00 to $180.00 and set a “buy” rating on the stock in a research report on Monday, August 12th. Royal Bank of Canada decreased their price objective on shares of Chord Energy from $185.00 to $180.00 and set an “outperform” rating on the stock in a report on Wednesday. Jefferies Financial Group assumed coverage on shares of Chord Energy in a report on Thursday, September 5th. They set a “hold” rating and a $160.00 target price for the company. Piper Sandler raised their price objective on shares of Chord Energy from $211.00 to $212.00 and gave the stock an “overweight” rating in a research report on Monday. Finally, Wells Fargo & Company reduced their price objective on Chord Energy from $185.00 to $180.00 and set an “overweight” rating for the company in a report on Wednesday, October 16th.

Chord Energy Stock Performance

CHRD opened at $129.84 on Thursday. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.93 and a quick ratio of 0.89. The company has a market capitalization of $7.94 billion, a price-to-earnings ratio of 6.69, a P/E/G ratio of 5.02 and a beta of 0.98. The business’s 50-day moving average price is $131.00 and its two-hundred day moving average price is $153.33. Chord Energy has a 1 year low of $123.30 and a 1 year high of $190.23.

Chord Energy (NASDAQ:CHRD) last announced its quarterly earnings data on Wednesday, November 6th. The company reported $3.40 EPS for the quarter, missing analysts’ consensus estimates of $3.63 by ($0.23). Chord Energy had a return on equity of 12.88% and a net margin of 19.74%. The business had revenue of $1.12 billion during the quarter, compared to the consensus estimate of $1.26 billion. During the same period in the prior year, the firm earned $5.04 EPS. The business’s revenue for the quarter was up 33.4% compared to the same quarter last year. Equities analysts expect that Chord Energy will post 16.8 EPS for the current fiscal year.

Chord Energy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Wednesday, November 27th will be paid a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a yield of 3.85%. The ex-dividend date is Wednesday, November 27th. Chord Energy’s payout ratio is 25.75%.

Insider Activity at Chord Energy

In other Chord Energy news, Director Samantha Holroyd acquired 500 shares of the company’s stock in a transaction that occurred on Friday, August 23rd. The stock was bought at an average price of $149.51 per share, with a total value of $74,755.00. Following the completion of the purchase, the director now owns 14,417 shares of the company’s stock, valued at approximately $2,155,485.67. This represents a 3.59 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.70% of the stock is owned by company insiders.

Institutional Trading of Chord Energy

A number of hedge funds have recently made changes to their positions in CHRD. Hexagon Capital Partners LLC lifted its position in Chord Energy by 462.9% in the 3rd quarter. Hexagon Capital Partners LLC now owns 197 shares of the company’s stock worth $26,000 after buying an additional 162 shares during the last quarter. Stone House Investment Management LLC bought a new position in shares of Chord Energy during the 3rd quarter valued at $26,000. UMB Bank n.a. raised its position in Chord Energy by 77.7% in the 3rd quarter. UMB Bank n.a. now owns 231 shares of the company’s stock worth $30,000 after purchasing an additional 101 shares during the period. Spartan Fund Management Inc. purchased a new stake in Chord Energy during the third quarter valued at about $34,000. Finally, Ashton Thomas Private Wealth LLC bought a new position in shares of Chord Energy during the second quarter valued at about $40,000. 97.76% of the stock is owned by institutional investors.

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.