Chord Energy Corporation (NASDAQ:CHRD) Receives $123.92 Consensus Target Price from Analysts

Chord Energy Corporation (NASDAQ:CHRD) has been given an average rating of “Moderate Buy” by the fourteen brokerages that are presently covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have issued a buy rating on the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $125.9091.

Several research firms recently issued reports on CHRD. Scotiabank reissued a “sector perform” rating and set a $114.00 target price on shares of Chord Energy in a research note on Friday, January 16th. Mizuho set a $148.00 target price on Chord Energy in a research report on Friday, January 9th. Royal Bank Of Canada reduced their price target on shares of Chord Energy from $135.00 to $128.00 and set an “outperform” rating on the stock in a research report on Tuesday, January 13th. UBS Group lifted their price objective on shares of Chord Energy from $119.00 to $142.00 and gave the company a “buy” rating in a report on Thursday, March 5th. Finally, Jefferies Financial Group set a $99.00 target price on shares of Chord Energy in a research note on Saturday, January 17th.

Insider Transactions at Chord Energy

In other news, Director Douglas E. Brooks sold 2,126 shares of the stock in a transaction on Friday, March 6th. The stock was sold at an average price of $120.28, for a total value of $255,715.28. Following the sale, the director directly owned 25,181 shares in the company, valued at approximately $3,028,770.68. This trade represents a 7.79% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Shannon Browning Kinney sold 1,801 shares of the stock in a transaction on Tuesday, March 3rd. The shares were sold at an average price of $114.36, for a total value of $205,962.36. Following the completion of the sale, the executive vice president owned 20,188 shares in the company, valued at approximately $2,308,699.68. The trade was a 8.19% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 8,927 shares of company stock valued at $1,029,978. 0.70% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Chord Energy

Hedge funds have recently bought and sold shares of the stock. Massachusetts Financial Services Co. MA acquired a new position in shares of Chord Energy during the third quarter worth about $91,434,000. Orion Porfolio Solutions LLC raised its holdings in Chord Energy by 6,714.2% in the second quarter. Orion Porfolio Solutions LLC now owns 709,086 shares of the company’s stock valued at $68,675,000 after acquiring an additional 698,680 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in Chord Energy by 85.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,218,167 shares of the company’s stock worth $112,927,000 after acquiring an additional 561,899 shares during the last quarter. AQR Capital Management LLC lifted its stake in Chord Energy by 210.5% in the second quarter. AQR Capital Management LLC now owns 734,225 shares of the company’s stock worth $71,110,000 after acquiring an additional 497,789 shares during the last quarter. Finally, Barclays PLC grew its holdings in Chord Energy by 186.2% during the 3rd quarter. Barclays PLC now owns 501,170 shares of the company’s stock worth $49,801,000 after acquiring an additional 326,054 shares in the last quarter. Institutional investors and hedge funds own 97.76% of the company’s stock.

Chord Energy Stock Down 3.4%

Shares of NASDAQ CHRD opened at $119.03 on Wednesday. The company has a quick ratio of 0.98, a current ratio of 1.06 and a debt-to-equity ratio of 0.18. The business’s 50 day moving average is $100.58 and its two-hundred day moving average is $97.79. Chord Energy has a 52-week low of $79.83 and a 52-week high of $127.56. The firm has a market cap of $6.77 billion, a price-to-earnings ratio of 188.94 and a beta of 0.84.

Chord Energy (NASDAQ:CHRD) last released its quarterly earnings results on Wednesday, February 25th. The company reported $1.28 EPS for the quarter, topping the consensus estimate of $1.17 by $0.11. Chord Energy had a return on equity of 6.71% and a net margin of 0.91%.The business had revenue of $1.17 billion during the quarter, compared to analyst estimates of $1.03 billion. During the same period last year, the business posted $3.49 earnings per share. The company’s quarterly revenue was down 19.6% on a year-over-year basis. Research analysts predict that Chord Energy will post 15.59 EPS for the current year.

Chord Energy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 27th. Shareholders of record on Thursday, March 12th will be paid a $1.30 dividend. The ex-dividend date is Thursday, March 12th. This represents a $5.20 annualized dividend and a dividend yield of 4.4%. Chord Energy’s payout ratio is 825.40%.

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.