Chord Energy Co. (NASDAQ:CHRD) Receives Average Rating of “Moderate Buy” from Brokerages

Chord Energy Co. (NASDAQ:CHRD) has been assigned an average rating of “Moderate Buy” from the thirteen research firms that are presently covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell rating, one has assigned a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $153.77.

CHRD has been the topic of several research analyst reports. Wall Street Zen downgraded Chord Energy from a “hold” rating to a “sell” rating in a research report on Friday, May 30th. Mizuho lowered their price objective on Chord Energy from $154.00 to $150.00 and set an “outperform” rating on the stock in a research report on Tuesday, May 13th. Royal Bank of Canada lowered their price objective on Chord Energy from $165.00 to $145.00 and set an “outperform” rating on the stock in a research report on Friday, April 11th. Morgan Stanley set a $139.00 price objective on Chord Energy and gave the company a “cautious” rating in a research report on Wednesday, March 26th. Finally, Wells Fargo & Company lowered their price objective on Chord Energy from $166.00 to $158.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 15th.

Insider Activity at Chord Energy

In other Chord Energy news, EVP Shannon Browning Kinney sold 3,091 shares of the company’s stock in a transaction that occurred on Thursday, May 8th. The stock was sold at an average price of $94.10, for a total transaction of $290,863.10. Following the sale, the executive vice president now directly owns 21,277 shares in the company, valued at $2,002,165.70. This represents a 12.68% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. 0.70% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Chord Energy

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CHRD. Altshuler Shaham Ltd purchased a new stake in Chord Energy during the fourth quarter valued at approximately $25,000. Twin Tree Management LP purchased a new stake in Chord Energy during the fourth quarter valued at approximately $33,000. Larson Financial Group LLC raised its position in Chord Energy by 238.3% during the fourth quarter. Larson Financial Group LLC now owns 318 shares of the company’s stock valued at $37,000 after purchasing an additional 224 shares during the period. Hexagon Capital Partners LLC raised its position in Chord Energy by 321.7% during the first quarter. Hexagon Capital Partners LLC now owns 447 shares of the company’s stock valued at $50,000 after purchasing an additional 341 shares during the period. Finally, R Squared Ltd purchased a new stake in Chord Energy during the fourth quarter valued at approximately $51,000. 97.76% of the stock is currently owned by hedge funds and other institutional investors.

Chord Energy Stock Performance

NASDAQ:CHRD opened at $94.89 on Monday. The stock has a 50-day simple moving average of $92.61 and a two-hundred day simple moving average of $107.53. Chord Energy has a 52-week low of $79.83 and a 52-week high of $181.17. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.89 and a current ratio of 0.93. The firm has a market capitalization of $5.48 billion, a PE ratio of 4.89, a P/E/G ratio of 5.83 and a beta of 0.96.

Chord Energy (NASDAQ:CHRD) last released its quarterly earnings results on Tuesday, May 6th. The company reported $4.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.60 by $0.44. Chord Energy had a return on equity of 12.88% and a net margin of 19.74%. The business had revenue of $1.22 billion during the quarter, compared to analyst estimates of $1.07 billion. During the same quarter in the previous year, the company posted $5.10 earnings per share. Chord Energy’s revenue for the quarter was up 12.0% on a year-over-year basis. Analysts forecast that Chord Energy will post 15.59 EPS for the current year.

Chord Energy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 9th. Investors of record on Wednesday, May 21st will be paid a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a yield of 5.48%. The ex-dividend date of this dividend is Wednesday, May 21st. Chord Energy’s payout ratio is presently 34.78%.

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.