Analysts Set Chord Energy Corporation (NASDAQ:CHRD) Target Price at $151.54

Chord Energy Corporation (NASDAQ:CHRD) has been given an average recommendation of “Moderate Buy” by the thirteen brokerages that are covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, ten have issued a buy rating and one has issued a strong buy rating on the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $151.54.

A number of research firms have recently commented on CHRD. Piper Sandler increased their price target on shares of Chord Energy from $159.00 to $164.00 and gave the company an “overweight” rating in a report on Thursday, July 17th. Wall Street Zen cut shares of Chord Energy from a “hold” rating to a “sell” rating in a report on Friday, July 18th. Wells Fargo & Company increased their price target on shares of Chord Energy from $142.00 to $143.00 and gave the company an “overweight” rating in a report on Tuesday, July 15th. Citigroup increased their price target on shares of Chord Energy from $120.00 to $125.00 and gave the company a “buy” rating in a report on Wednesday, July 9th. Finally, Royal Bank Of Canada cut their price target on shares of Chord Energy from $165.00 to $145.00 and set an “outperform” rating on the stock in a report on Friday, April 11th.

Chord Energy Price Performance

Shares of NASDAQ CHRD opened at $108.72 on Tuesday. Chord Energy has a fifty-two week low of $79.83 and a fifty-two week high of $173.71. The company has a 50 day simple moving average of $100.37 and a two-hundred day simple moving average of $103.82. The company has a market capitalization of $6.28 billion, a price-to-earnings ratio of 7.27 and a beta of 0.96. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.83 and a current ratio of 0.89.

Chord Energy (NASDAQ:CHRD) last announced its earnings results on Tuesday, May 6th. The company reported $4.04 earnings per share for the quarter, beating analysts’ consensus estimates of $3.60 by $0.44. Chord Energy had a net margin of 16.15% and a return on equity of 10.34%. The business had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $1.07 billion. During the same quarter last year, the firm earned $5.10 earnings per share. The business’s revenue for the quarter was up 12.0% on a year-over-year basis. Analysts expect that Chord Energy will post 15.59 EPS for the current fiscal year.

Chord Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 9th. Stockholders of record on Wednesday, May 21st were paid a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a dividend yield of 4.78%. The ex-dividend date was Wednesday, May 21st. Chord Energy’s dividend payout ratio is presently 34.78%.

Insider Buying and Selling at Chord Energy

In other news, EVP Shannon Browning Kinney sold 3,091 shares of Chord Energy stock in a transaction on Thursday, May 8th. The shares were sold at an average price of $94.10, for a total transaction of $290,863.10. Following the transaction, the executive vice president owned 21,277 shares in the company, valued at $2,002,165.70. This trade represents a 12.68% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.70% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Altshuler Shaham Ltd purchased a new position in shares of Chord Energy during the 4th quarter worth $25,000. Hexagon Capital Partners LLC boosted its stake in shares of Chord Energy by 321.7% during the 1st quarter. Hexagon Capital Partners LLC now owns 447 shares of the company’s stock worth $50,000 after acquiring an additional 341 shares during the last quarter. Caitong International Asset Management Co. Ltd boosted its stake in shares of Chord Energy by 5,877.8% during the 1st quarter. Caitong International Asset Management Co. Ltd now owns 538 shares of the company’s stock worth $61,000 after acquiring an additional 529 shares during the last quarter. MassMutual Private Wealth & Trust FSB boosted its stake in shares of Chord Energy by 254.1% during the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 687 shares of the company’s stock worth $67,000 after acquiring an additional 493 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Chord Energy by 89.6% during the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 692 shares of the company’s stock worth $67,000 after acquiring an additional 327 shares during the last quarter. Hedge funds and other institutional investors own 97.76% of the company’s stock.

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.