Chord Energy (NASDAQ:CHRD) Trading Up 5.4% – Should You Buy?

Chord Energy Corporation (NASDAQ:CHRD)’s stock price traded up 5.4% during trading on Wednesday . The stock traded as high as $123.14 and last traded at $123.20. Approximately 180,846 shares changed hands during trading, a decline of 81% from the average daily volume of 927,935 shares. The stock had previously closed at $116.84.

Analysts Set New Price Targets

A number of research analysts recently issued reports on CHRD shares. Wall Street Zen cut shares of Chord Energy from a “strong-buy” rating to a “buy” rating in a report on Saturday, June 27th. Truist Financial cut their target price on shares of Chord Energy from $185.00 to $170.00 and set a “buy” rating on the stock in a report on Tuesday. Williams Trading set a $189.00 price target on shares of Chord Energy in a research report on Monday, April 20th. BMO Capital Markets restated an “outperform” rating on shares of Chord Energy in a research report on Monday, June 29th. Finally, Citigroup raised their price objective on Chord Energy from $120.00 to $155.00 and gave the stock a “neutral” rating in a research note on Tuesday, March 31st. Eleven analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $155.92.

Chord Energy Stock Up 3.7%

The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.96 and a current ratio of 1.02. The firm’s fifty day simple moving average is $133.24 and its 200 day simple moving average is $119.28. The stock has a market capitalization of $6.82 billion, a price-to-earnings ratio of -107.30 and a beta of 0.49.

Chord Energy (NASDAQ:CHRD) last issued its quarterly earnings data on Tuesday, May 5th. The company reported $4.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.51 by $1.05. Chord Energy had a negative net margin of 1.25% and a positive return on equity of 7.06%. The company had revenue of $1.67 billion during the quarter, compared to the consensus estimate of $1.21 billion. During the same quarter in the prior year, the firm earned $4.04 earnings per share. The firm’s revenue was up 37.1% compared to the same quarter last year. On average, sell-side analysts forecast that Chord Energy Corporation will post 19.13 earnings per share for the current year.

Chord Energy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 5th. Shareholders of record on Wednesday, May 20th were issued a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a yield of 4.3%. The ex-dividend date was Wednesday, May 20th. Chord Energy’s dividend payout ratio is -460.18%.

Insider Transactions at Chord Energy

In related news, Director Douglas E. Brooks sold 1,500 shares of the stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $138.57, for a total transaction of $207,855.00. Following the completion of the transaction, the director directly owned 18,705 shares in the company, valued at approximately $2,591,951.85. This trade represents a 7.42% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Darrin J. Henke sold 1,276 shares of the business’s stock in a transaction that occurred on Friday, May 15th. The shares were sold at an average price of $145.97, for a total value of $186,257.72. Following the completion of the sale, the chief operating officer owned 21,157 shares in the company, valued at $3,088,287.29. The trade was a 5.69% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 9,276 shares of company stock worth $1,285,968. Corporate insiders own 0.79% of the company’s stock.

Institutional Trading of Chord Energy

Hedge funds and other institutional investors have recently made changes to their positions in the business. Bessemer Group Inc. boosted its holdings in Chord Energy by 63.8% during the first quarter. Bessemer Group Inc. now owns 190 shares of the company’s stock worth $27,000 after purchasing an additional 74 shares during the last quarter. Versant Capital Management Inc increased its stake in Chord Energy by 330.9% in the 2nd quarter. Versant Capital Management Inc now owns 237 shares of the company’s stock valued at $27,000 after buying an additional 182 shares during the last quarter. V Square Quantitative Management LLC bought a new stake in Chord Energy during the 1st quarter worth about $29,000. WealthCollab LLC lifted its position in Chord Energy by 90.6% during the 2nd quarter. WealthCollab LLC now owns 305 shares of the company’s stock worth $30,000 after buying an additional 145 shares in the last quarter. Finally, Root Financial Partners LLC boosted its stake in shares of Chord Energy by 178.6% during the 1st quarter. Root Financial Partners LLC now owns 234 shares of the company’s stock worth $33,000 after buying an additional 150 shares during the last quarter. 97.76% of the stock is currently owned by institutional investors and hedge funds.

Chord Energy Company Profile

Chord Energy Corporation (NASDAQ: CHRD), formerly known as Oasis Petroleum Inc, is an independent exploration and production company focused on the acquisition, development and production of crude oil, natural gas and natural gas liquids. Headquartered in Houston, Texas, Chord Energy emerged from financial restructuring in early 2021 and rebranded in October 2022 to reflect its renewed strategic vision.

The company’s core operations are concentrated in two prolific U.S. resource plays: the Williston Basin across North Dakota and Montana, and the Delaware Basin spanning parts of West Texas and southeastern New Mexico.