Chord Energy Corporation (NASDAQ:CHRD) Receives Average Recommendation of “Moderate Buy” from Analysts

Chord Energy Corporation (NASDAQ:CHRD) has received a consensus rating of “Moderate Buy” from the sixteen research firms that are covering the firm, MarketBeat reports. One analyst has rated the stock with a sell rating, four have issued a hold rating, ten have issued a buy rating and one has issued a strong buy rating on the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $152.5385.

Several equities research analysts have recently issued reports on CHRD shares. Roth Capital restated a “buy” rating and issued a $145.00 price objective on shares of Chord Energy in a research note on Wednesday, July 15th. BMO Capital Markets restated an “outperform” rating on shares of Chord Energy in a research report on Monday, June 29th. Zacks Research downgraded shares of Chord Energy from a “hold” rating to a “strong sell” rating in a report on Tuesday, August 11th. Mizuho upgraded shares of Chord Energy to a “strong-buy” rating in a report on Friday, July 31st. Finally, Wells Fargo & Company cut their price objective on shares of Chord Energy from $175.00 to $163.00 and set an “overweight” rating for the company in a research report on Thursday, August 13th.

Insider Buying and Selling at Chord Energy

In other news, EVP Shannon Browning Kinney sold 4,019 shares of the business’s stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $140.00, for a total transaction of $562,660.00. Following the sale, the executive vice president directly owned 13,560 shares in the company, valued at approximately $1,898,400. The trade was a 22.86% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Samantha Mckinney sold 2,200 shares of the company’s stock in a transaction on Monday, August 10th. The shares were sold at an average price of $136.32, for a total value of $299,904.00. Following the completion of the transaction, the director owned 17,030 shares of the company’s stock, valued at $2,321,529.60. The trade was a 11.44% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 14,219 shares of company stock valued at $1,927,684 in the last quarter. Corporate insiders own 0.79% of the company’s stock.

Institutional Investors Weigh In On Chord Energy

Several institutional investors and hedge funds have recently bought and sold shares of CHRD. New Age Alpha Advisors LLC lifted its position in shares of Chord Energy by 18.0% during the 4th quarter. New Age Alpha Advisors LLC now owns 55,284 shares of the company’s stock worth $5,125,000 after buying an additional 8,437 shares during the period. Bank of America Corp DE raised its stake in Chord Energy by 8.4% during the first quarter. Bank of America Corp DE now owns 238,068 shares of the company’s stock worth $33,849,000 after acquiring an additional 18,399 shares in the last quarter. Jefferies Financial Group Inc. bought a new position in shares of Chord Energy during the fourth quarter valued at $6,489,000. LSV Asset Management boosted its stake in shares of Chord Energy by 269.0% in the 4th quarter. LSV Asset Management now owns 149,385 shares of the company’s stock valued at $13,848,000 after purchasing an additional 108,900 shares in the last quarter. Finally, Fox Run Management L.L.C. grew its holdings in shares of Chord Energy by 122.8% in the 4th quarter. Fox Run Management L.L.C. now owns 16,689 shares of the company’s stock worth $1,547,000 after purchasing an additional 9,199 shares during the last quarter. Institutional investors own 97.76% of the company’s stock.

Chord Energy Price Performance

Shares of NASDAQ:CHRD opened at $146.00 on Wednesday. The company has a market cap of $7.99 billion, a price-to-earnings ratio of 9.79 and a beta of 0.48. The business has a 50 day moving average price of $130.78 and a 200 day moving average price of $130.27. The company has a quick ratio of 1.15, a current ratio of 1.22 and a debt-to-equity ratio of 0.18. Chord Energy has a twelve month low of $84.25 and a twelve month high of $153.00.

Chord Energy (NASDAQ:CHRD) last issued its quarterly earnings results on Wednesday, August 5th. The company reported $6.44 EPS for the quarter, missing the consensus estimate of $6.55 by ($0.11). Chord Energy had a return on equity of 10.18% and a net margin of 13.42%.The business had revenue of $2.17 billion during the quarter, compared to the consensus estimate of $1.62 billion. During the same period in the prior year, the firm earned $1.79 earnings per share. The business’s quarterly revenue was up 128.6% on a year-over-year basis. Research analysts predict that Chord Energy will post 18.61 earnings per share for the current year.

Chord Energy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, September 4th. Investors of record on Thursday, August 20th will be paid a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a yield of 3.6%. The ex-dividend date is Thursday, August 20th. Chord Energy’s payout ratio is currently 34.85%.

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.