Chord Energy Corporation (NASDAQ:CHRD) Stock Has Consensus Target Price of $172.00

Shares of Chord Energy Corporation (NASDAQ:CHRD) have been assigned an average recommendation of “Moderate Buy” from the seventeen ratings firms that are covering the stock, Marketbeat.com reports. Four analysts have rated the stock with a hold recommendation, twelve have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $174.23.

Several equities research analysts have recently commented on CHRD shares. BMO Capital Markets reiterated an “outperform” rating on shares of Chord Energy in a research note on Monday, June 29th. UBS Group upped their target price on Chord Energy from $184.00 to $193.00 and gave the company a “buy” rating in a research report on Tuesday, October 6th. Citigroup upped their target price on Chord Energy from $130.00 to $150.00 and gave the company a “neutral” rating in a research report on Thursday, September 17th. Seaport Research Partners assumed coverage on Chord Energy in a research note on Thursday, September 3rd. They issued a “neutral” rating for the company. Finally, Roth Capital reaffirmed a “buy” rating and set a $165.00 price target on shares of Chord Energy in a research report on Monday.

Chord Energy Stock Performance

CHRD opened at $154.48 on Thursday. The company has a market cap of $8.45 billion, a P/E ratio of 10.35 and a beta of 0.59. The company has a quick ratio of 1.15, a current ratio of 1.22 and a debt-to-equity ratio of 0.18. The firm’s 50-day moving average price is $143.81 and its 200-day moving average price is $136.76. Chord Energy has a 52-week low of $84.25 and a 52-week high of $157.06.

Chord Energy (NASDAQ:CHRD) last released its earnings results on Wednesday, August 5th. The company reported $6.44 earnings per share for the quarter, missing the consensus estimate of $6.55 by ($0.11). The company had revenue of $2.17 billion for the quarter, compared to analysts’ expectations of $1.62 billion. Chord Energy had a return on equity of 10.18% and a net margin of 13.42%. The firm’s revenue for the quarter was up 128.6% on a year-over-year basis. During the same period in the prior year, the firm posted $1.79 EPS. As a group, equities analysts anticipate that Chord Energy will post 21.12 EPS for the current fiscal year.

Chord Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 4th. Stockholders of record on Thursday, August 20th were issued a $1.30 dividend. The ex-dividend date of this dividend was Thursday, August 20th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 3.4%. Chord Energy’s dividend payout ratio is currently 34.85%.

Insider Transactions at Chord Energy

In related news, Director Douglas E. Brooks sold 8,000 shares of the company’s stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $133.14, for a total value of $1,065,120.00. Following the sale, the director owned 10,705 shares in the company, valued at $1,425,263.70. This represents a 42.77% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Samantha Mckinney sold 9,750 shares of the stock in a transaction that occurred on Tuesday, September 1st. The stock was sold at an average price of $149.94, for a total transaction of $1,461,915.00. Following the completion of the transaction, the director owned 7,280 shares in the company, valued at approximately $1,091,563.20. This trade represents a 57.25% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 23,969 shares of company stock worth $3,389,599 over the last three months. 0.79% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Chord Energy

Institutional investors have recently bought and sold shares of the business. Bessemer Group Inc. grew 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 worth $27,000 after buying an additional 74 shares in the last quarter. Blue Trust Inc. raised its holdings in Chord Energy by 22.2% in the first quarter. Blue Trust Inc. now owns 463 shares of the company’s stock valued at $66,000 after acquiring an additional 84 shares in the last quarter. Concurrent Investment Advisors LLC boosted its stake in Chord Energy by 3.6% during the 2nd quarter. Concurrent Investment Advisors LLC now owns 3,514 shares of the company’s stock valued at $402,000 after acquiring an additional 121 shares during the last quarter. Root Financial Partners LLC boosted its stake in Chord Energy by 178.6% during the 1st quarter. Root Financial Partners LLC now owns 234 shares of the company’s stock valued at $33,000 after acquiring an additional 150 shares during the last quarter. Finally, Allworth Financial LP grew its holdings in Chord Energy by 16.6% during the 2nd quarter. Allworth Financial LP now owns 1,189 shares of the company’s stock worth $136,000 after acquiring an additional 169 shares in the last quarter. 97.76% of the stock is owned by hedge funds and other institutional investors.

Chord Energy Company Profile

Chord Energy Corporation is an independent exploration and production company focused on the development and operation of oil and natural gas properties in the United States. Its portfolio is concentrated in the Williston Basin, which spans parts of North Dakota and Montana. The company’s production mix includes crude oil, natural gas and natural gas liquids.

Chord’s operations include acquiring, developing and producing hydrocarbons from operated and non-operated wells, with an emphasis on drilling and completion activities in the Bakken and Three Forks formations.