Chord Energy Co. (NASDAQ:CHRD) Receives $190.18 Consensus Price Target from Analysts

Chord Energy Co. (NASDAQ:CHRD) has been given a consensus recommendation of “Moderate Buy” by the thirteen ratings firms that are presently covering the firm, Marketbeat reports. Two analysts have rated the stock with a hold recommendation, ten have given a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $190.18.

Several equities analysts have recently commented on CHRD shares. Royal Bank of Canada restated an “outperform” rating and set a $200.00 price target on shares of Chord Energy in a research note on Friday, September 20th. Truist Financial cut their price target on Chord Energy from $223.00 to $185.00 and set a “buy” rating on the stock in a research note on Monday, September 30th. UBS Group started coverage on Chord Energy in a research note on Wednesday, October 16th. They set a “buy” rating and a $168.00 price target on the stock. Jefferies Financial Group assumed coverage on Chord Energy in a research note on Thursday, September 5th. They set a “hold” rating and a $160.00 price target on the stock. Finally, Wells Fargo & Company cut their target price on Chord Energy from $185.00 to $180.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 16th.

Insider Transactions at Chord Energy

In other Chord Energy news, Director Samantha Holroyd purchased 500 shares of the company’s stock in a transaction dated Friday, August 23rd. The shares were acquired at an average price of $149.51 per share, for a total transaction of $74,755.00. Following the completion of the purchase, the director now owns 14,417 shares of the company’s stock, valued at approximately $2,155,485.67. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 0.70% of the company’s stock.

Institutional Investors Weigh In On Chord Energy

A number of institutional investors and hedge funds have recently modified their holdings of CHRD. Hexagon Capital Partners LLC lifted its holdings in shares of Chord Energy by 462.9% during the third quarter. Hexagon Capital Partners LLC now owns 197 shares of the company’s stock worth $26,000 after purchasing an additional 162 shares during the period. UMB Bank n.a. lifted its holdings in shares of Chord Energy by 77.7% during the third quarter. UMB Bank n.a. now owns 231 shares of the company’s stock worth $30,000 after purchasing an additional 101 shares during the period. Spartan Fund Management Inc. acquired a new stake in shares of Chord Energy during the third quarter worth about $34,000. Ashton Thomas Private Wealth LLC acquired a new stake in shares of Chord Energy during the second quarter worth about $40,000. Finally, Benjamin F. Edwards & Company Inc. lifted its holdings in shares of Chord Energy by 125.9% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 244 shares of the company’s stock worth $41,000 after purchasing an additional 136 shares during the period. Institutional investors and hedge funds own 97.76% of the company’s stock.

Chord Energy Stock Down 0.6 %

NASDAQ:CHRD opened at $127.67 on Friday. Chord Energy has a twelve month low of $126.38 and a twelve month high of $190.23. The company has a market cap of $7.90 billion, a price-to-earnings ratio of 6.20, a price-to-earnings-growth ratio of 5.04 and a beta of 0.97. The stock has a fifty day simple moving average of $137.09 and a 200-day simple moving average of $160.62. The company has a current ratio of 0.96, a quick ratio of 0.91 and a debt-to-equity ratio of 0.11.

Chord Energy (NASDAQ:CHRD) last released its earnings results on Wednesday, August 7th. The company reported $4.69 earnings per share for the quarter, missing the consensus estimate of $5.00 by ($0.31). The business had revenue of $902.70 million for the quarter, compared to the consensus estimate of $982.43 million. Chord Energy had a return on equity of 15.06% and a net margin of 20.83%. The firm’s revenue for the quarter was up 29.8% compared to the same quarter last year. During the same quarter last year, the business posted $3.65 earnings per share. Analysts anticipate that Chord Energy will post 17.07 EPS for the current year.

Chord Energy Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 5th. Stockholders of record on Wednesday, August 21st were paid a dividend of $1.25 per share. The ex-dividend date of this dividend was Wednesday, August 21st. This represents a $5.00 dividend on an annualized basis and a dividend yield of 3.92%. Chord Energy’s payout ratio is 24.27%.

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.