Chord Energy Corporation (NASDAQ:CHRD) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of Chord Energy Corporation (NASDAQ:CHRD) have been given an average recommendation of “Moderate Buy” by the sixteen research firms that are currently covering the firm, MarketBeat Ratings reports. Five investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $155.9231.

A number of research analysts recently weighed in on CHRD shares. Weiss Ratings restated a “hold (c-)” rating on shares of Chord Energy in a research note on Friday, June 12th. Roth Capital restated a “buy” rating and set a $140.00 price target (up from $130.00) on shares of Chord Energy in a report on Friday, April 17th. Scotiabank increased their target price on Chord Energy from $114.00 to $135.00 and gave the company a “sector perform” rating in a research report on Wednesday, April 22nd. Citigroup upped their price target on shares of Chord Energy from $120.00 to $155.00 and gave the company a “neutral” rating in a research note on Tuesday, March 31st. Finally, Truist Financial dropped their target price on Chord Energy from $185.00 to $170.00 and set a “buy” rating for the company in a report on Tuesday.

Chord Energy Stock Performance

Shares of Chord Energy stock traded up $2.34 during trading hours on Tuesday, reaching $113.93. 30,946 shares of the stock traded hands, compared to its average volume of 927,797. The company has a 50 day moving average price of $133.61 and a 200 day moving average price of $119.12. The company has a quick ratio of 0.96, a current ratio of 1.02 and a debt-to-equity ratio of 0.18. The firm has a market capitalization of $6.41 billion, a price-to-earnings ratio of -101.22 and a beta of 0.49. Chord Energy has a one year low of $84.25 and a one year high of $151.95.

Chord Energy (NASDAQ:CHRD) last released its quarterly earnings results on Tuesday, May 5th. The company reported $4.56 earnings per share 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 business had revenue of $1.67 billion for the quarter, compared to the consensus estimate of $1.21 billion. During the same period last year, the firm earned $4.04 earnings per share. The company’s quarterly revenue was up 37.1% on a year-over-year basis. On average, equities research analysts expect that Chord Energy will post 19.13 earnings per share for the current fiscal year.

Chord Energy Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, June 5th. Investors of record on Wednesday, May 20th were paid a dividend of $1.30 per share. The ex-dividend date of this dividend was Wednesday, May 20th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.6%. Chord Energy’s payout ratio is currently -460.18%.

Insider Transactions at Chord Energy

In other news, COO Darrin J. Henke sold 1,276 shares of the company’s stock in a transaction that occurred on Friday, May 15th. The stock was sold at an average price of $145.97, for a total transaction of $186,257.72. Following the transaction, the chief operating officer owned 21,157 shares of the company’s stock, valued at approximately $3,088,287.29. This represents a 5.69% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Douglas E. Brooks sold 1,500 shares of the stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $138.57, for a total value of $207,855.00. Following the completion of the sale, the director owned 18,705 shares in the company, valued at approximately $2,591,951.85. The trade was a 7.42% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 9,276 shares of company stock worth $1,285,968 over the last three months. 0.79% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Bessemer Group Inc. lifted its position in shares of Chord Energy by 63.8% during the first quarter. Bessemer Group Inc. now owns 190 shares of the company’s stock valued at $27,000 after buying an additional 74 shares during the last quarter. Versant Capital Management Inc grew its holdings in shares of Chord Energy by 330.9% during the second 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 purchased a new stake in Chord Energy during the 1st quarter valued at about $29,000. WealthCollab LLC increased its holdings in Chord Energy by 90.6% in the 2nd quarter. WealthCollab LLC now owns 305 shares of the company’s stock worth $30,000 after buying an additional 145 shares during the period. Finally, Root Financial Partners LLC increased its stake in shares of Chord Energy by 178.6% in the first quarter. Root Financial Partners LLC now owns 234 shares of the company’s stock worth $33,000 after acquiring an additional 150 shares during the period. Hedge funds and other institutional investors own 97.76% of the company’s stock.

About Chord Energy

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.