Brokerages Set Chord Energy Co. (NASDAQ:CHRD) Price Target at $204.00

Chord Energy Co. (NASDAQ:CHRDGet Free Report) has earned an average recommendation of “Moderate Buy” from the nine research firms that are presently covering the firm, Marketbeat reports. One analyst has rated the stock with a hold recommendation and eight have given a buy recommendation to the company. The average 1-year price target among analysts that have covered the stock in the last year is $204.00.

A number of brokerages have recently commented on CHRD. Truist Financial dropped their target price on Chord Energy from $228.00 to $226.00 and set a “buy” rating for the company in a report on Monday, June 3rd. Stifel Nicolaus boosted their price objective on Chord Energy from $178.00 to $211.00 and gave the company a “buy” rating in a report on Tuesday, February 27th. Royal Bank of Canada boosted their price objective on Chord Energy from $180.00 to $200.00 and gave the company an “outperform” rating in a report on Monday, April 29th. Mizuho boosted their price objective on Chord Energy from $195.00 to $214.00 and gave the company a “buy” rating in a report on Monday, May 13th. Finally, BMO Capital Markets began coverage on Chord Energy in a report on Monday, June 3rd. They set an “outperform” rating and a $230.00 price objective for the company.

View Our Latest Stock Analysis on CHRD

Chord Energy Stock Performance

NASDAQ:CHRD opened at $164.49 on Monday. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.14 and a quick ratio of 1.07. Chord Energy has a 1 year low of $145.06 and a 1 year high of $190.23. The stock’s 50 day simple moving average is $177.06 and its two-hundred day simple moving average is $168.55. The company has a market cap of $6.86 billion, a price-to-earnings ratio of 7.72, a PEG ratio of 0.81 and a beta of 1.05.

Chord Energy (NASDAQ:CHRDGet Free Report) last announced its earnings results on Tuesday, May 7th. The company reported $5.10 EPS for the quarter, topping analysts’ consensus estimates of $4.75 by $0.35. The firm had revenue of $1.09 billion during the quarter, compared to analysts’ expectations of $771.87 million. Chord Energy had a return on equity of 16.57% and a net margin of 22.67%. The company’s quarterly revenue was up 24.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $4.50 EPS. As a group, equities analysts anticipate that Chord Energy will post 22.39 earnings per share for the current fiscal year.

Chord Energy Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 5th. Shareholders of record on Wednesday, May 22nd were issued a $2.94 dividend. This represents a $11.76 annualized dividend and a dividend yield of 7.15%. The ex-dividend date was Tuesday, May 21st. Chord Energy’s dividend payout ratio is 23.46%.

Institutional Investors Weigh In On Chord Energy

Several hedge funds have recently made changes to their positions in the company. Xponance Inc. lifted its holdings in shares of Chord Energy by 1.3% in the 4th quarter. Xponance Inc. now owns 6,070 shares of the company’s stock worth $1,009,000 after buying an additional 77 shares during the period. Contravisory Investment Management Inc. raised its position in shares of Chord Energy by 48.9% in the 4th quarter. Contravisory Investment Management Inc. now owns 259 shares of the company’s stock worth $43,000 after acquiring an additional 85 shares in the last quarter. Fortem Financial Group LLC raised its position in shares of Chord Energy by 1.6% in the 1st quarter. Fortem Financial Group LLC now owns 5,958 shares of the company’s stock worth $1,062,000 after acquiring an additional 91 shares in the last quarter. Viking Fund Management LLC raised its position in shares of Chord Energy by 40.0% in the 4th quarter. Viking Fund Management LLC now owns 350 shares of the company’s stock worth $58,000 after acquiring an additional 100 shares in the last quarter. Finally, New York State Teachers Retirement System raised its position in shares of Chord Energy by 0.6% in the 1st quarter. New York State Teachers Retirement System now owns 15,792 shares of the company’s stock worth $2,815,000 after acquiring an additional 100 shares in the last quarter. 97.76% of the stock is currently owned by hedge funds and other institutional investors.

Chord Energy Company Profile

(Get Free Report

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.

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Analyst Recommendations for Chord Energy (NASDAQ:CHRD)

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