Analysts Set Chord Energy Co. (NASDAQ:CHRD) PT at $188.45

Shares of Chord Energy Co. (NASDAQ:CHRD) have received a consensus rating of “Moderate Buy” from the thirteen analysts that are covering the company, Marketbeat reports. Two equities research analysts have rated the stock with a hold recommendation, ten have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $187.82.

Several equities analysts have recently issued reports on the company. UBS Group lowered their price target on Chord Energy from $168.00 to $161.00 and set a “buy” rating on the stock in a research report on Monday, December 9th. Wells Fargo & Company lowered their target price on Chord Energy from $185.00 to $180.00 and set an “overweight” rating on the stock in a report on Wednesday, October 16th. Truist Financial cut their price target on shares of Chord Energy from $223.00 to $185.00 and set a “buy” rating for the company in a report on Monday, September 30th. Jefferies Financial Group initiated coverage on shares of Chord Energy in a research note on Thursday, September 5th. They issued a “hold” rating and a $160.00 price objective on the stock. Finally, Piper Sandler increased their target price on shares of Chord Energy from $211.00 to $212.00 and gave the company an “overweight” rating in a research note on Monday, November 18th.

Chord Energy Stock Performance

CHRD stock opened at $119.28 on Monday. The company has a 50-day simple moving average of $127.88 and a 200 day simple moving average of $146.48. The company has a market capitalization of $7.29 billion, a P/E ratio of 6.14, a PEG ratio of 4.79 and a beta of 0.96. The company has a quick ratio of 0.89, a current ratio of 0.93 and a debt-to-equity ratio of 0.10. Chord Energy has a fifty-two week low of $115.96 and a fifty-two week high of $190.23.

Chord Energy (NASDAQ:CHRD) last issued its quarterly earnings results on Wednesday, November 6th. The company reported $3.40 earnings per share for the quarter, missing analysts’ consensus estimates of $3.63 by ($0.23). Chord Energy had a return on equity of 12.88% and a net margin of 19.74%. The company had revenue of $1.12 billion during the quarter, compared to analyst estimates of $1.26 billion. During the same period in the prior year, the company posted $5.04 earnings per share. The company’s revenue was up 33.4% on a year-over-year basis. Sell-side analysts predict that Chord Energy will post 16.5 earnings per share for the current fiscal year.

Chord Energy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Wednesday, November 27th were paid a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a yield of 4.19%. The ex-dividend date of this dividend was Wednesday, November 27th. Chord Energy’s dividend payout ratio (DPR) is currently 25.75%.

Insider Transactions at Chord Energy

In other news, CAO Shannon Browning Kinney sold 1,000 shares of the stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $121.27, for a total value of $121,270.00. Following the completion of the sale, the chief accounting officer now directly owns 20,488 shares of the company’s stock, valued at $2,484,579.76. This represents a 4.65 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.70% of the stock is currently owned by 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. Franklin Resources Inc. increased its stake in shares of Chord Energy by 72.5% in the third quarter. Franklin Resources Inc. now owns 27,434 shares of the company’s stock worth $3,631,000 after acquiring an additional 11,527 shares during the last quarter. Synovus Financial Corp increased its position in Chord Energy by 14.9% in the 3rd quarter. Synovus Financial Corp now owns 5,869 shares of the company’s stock worth $764,000 after purchasing an additional 761 shares during the last quarter. Sanctuary Advisors LLC raised its stake in shares of Chord Energy by 21.0% during the 3rd quarter. Sanctuary Advisors LLC now owns 5,141 shares of the company’s stock worth $691,000 after purchasing an additional 892 shares in the last quarter. TCW Group Inc. lifted its holdings in shares of Chord Energy by 11.7% during the 3rd quarter. TCW Group Inc. now owns 33,540 shares of the company’s stock valued at $4,368,000 after buying an additional 3,500 shares during the last quarter. Finally, TD Private Client Wealth LLC lifted its holdings in shares of Chord Energy by 18.3% during the 3rd quarter. TD Private Client Wealth LLC now owns 1,631 shares of the company’s stock valued at $212,000 after buying an additional 252 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.