Chord Energy Co. (NASDAQ:CHRD) Receives $191.50 Average Target Price from Analysts

Chord Energy Co. (NASDAQ:CHRD) has received a consensus recommendation of “Moderate Buy” from the nine ratings firms that are presently covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, one has given a hold rating and seven have assigned a buy rating to the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $193.50.

A number of equities research analysts recently commented on CHRD shares. Royal Bank of Canada lifted their target price on Chord Energy from $180.00 to $200.00 and gave the stock an “outperform” rating in a report on Monday, April 29th. Stifel Nicolaus upped their price objective on shares of Chord Energy from $178.00 to $211.00 and gave the company a “buy” rating in a report on Tuesday, February 27th. Piper Sandler increased their price objective on shares of Chord Energy from $219.00 to $230.00 and gave the stock an “overweight” rating in a research note on Friday, April 19th. Mizuho boosted their target price on shares of Chord Energy from $189.00 to $195.00 and gave the company a “buy” rating in a research report on Thursday, March 14th. Finally, Truist Financial reduced their price objective on Chord Energy from $229.00 to $224.00 and set a “buy” rating for the company in a research note on Friday, April 5th.

Chord Energy Trading Up 0.4 %

NASDAQ CHRD opened at $175.98 on Friday. The firm has a market cap of $7.31 billion, a PE ratio of 7.48 and a beta of 1.07. Chord Energy has a 52 week low of $133.61 and a 52 week high of $190.23. The company has a quick ratio of 1.16, a current ratio of 1.22 and a debt-to-equity ratio of 0.08. The company has a 50 day moving average price of $174.36 and a 200 day moving average price of $165.84.

Chord Energy (NASDAQ:CHRD) last issued its quarterly earnings results on Wednesday, February 21st. The company reported $5.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.04 by $0.21. The business had revenue of $964.69 million for the quarter, compared to analyst estimates of $891.67 million. Chord Energy had a net margin of 26.27% and a return on equity of 16.35%. As a group, sell-side analysts forecast that Chord Energy will post 22.03 EPS for the current fiscal year.

Chord Energy Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 19th. Stockholders of record on Tuesday, March 5th were given a dividend of $3.25 per share. The ex-dividend date of this dividend was Monday, March 4th. This is a boost from Chord Energy’s previous quarterly dividend of $1.25. This represents a $13.00 dividend on an annualized basis and a dividend yield of 7.39%. Chord Energy’s dividend payout ratio (DPR) is 21.25%.

Insider Transactions at Chord Energy

In related news, CFO Michael H. Lou sold 3,000 shares of the business’s stock in a transaction on Friday, February 16th. The shares were sold at an average price of $165.00, for a total value of $495,000.00. Following the completion of the sale, the chief financial officer now owns 128,209 shares of the company’s stock, valued at approximately $21,154,485. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 0.70% of the company’s stock.

Institutional Trading of Chord Energy

Several institutional investors have recently modified their holdings of the stock. Commonwealth Equity Services LLC lifted its position in shares of Chord Energy by 0.6% in the third quarter. Commonwealth Equity Services LLC now owns 12,246 shares of the company’s stock valued at $1,985,000 after acquiring an additional 67 shares in the last quarter. Fifth Third Bancorp boosted its stake in Chord Energy by 15.4% during the 3rd quarter. Fifth Third Bancorp now owns 526 shares of the company’s stock worth $85,000 after purchasing an additional 70 shares during the last quarter. State Board of Administration of Florida Retirement System grew its holdings in shares of Chord Energy by 0.6% during the third quarter. State Board of Administration of Florida Retirement System now owns 11,956 shares of the company’s stock worth $1,938,000 after buying an additional 70 shares in the last quarter. Xponance Inc. grew its holdings in shares of Chord Energy by 1.3% during the fourth quarter. Xponance Inc. now owns 6,070 shares of the company’s stock worth $1,009,000 after buying an additional 77 shares in the last quarter. Finally, Contravisory Investment Management Inc. raised its position in shares of Chord Energy by 48.9% in the fourth quarter. Contravisory Investment Management Inc. now owns 259 shares of the company’s stock valued at $43,000 after buying an additional 85 shares during the last quarter. Institutional investors and hedge funds 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.