Analysts Set Chord Energy Corporation (NASDAQ:CHRD) Price Target at $165.92

Shares of Chord Energy Corporation (NASDAQ:CHRD) have been assigned an average rating of “Moderate Buy” from the seventeen research firms that are presently covering the stock, MarketBeat.com reports. Six investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating on the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $165.5385.

A number of equities analysts have weighed in on CHRD shares. Roth Capital reissued a “buy” rating and issued a $145.00 target price on shares of Chord Energy in a research report on Wednesday, July 15th. Zacks Research upgraded shares of Chord Energy from a “strong sell” rating to a “hold” rating in a research note on Wednesday, September 9th. Wells Fargo & Company boosted their price objective on shares of Chord Energy from $163.00 to $175.00 and gave the company an “overweight” rating in a report on Wednesday, September 2nd. Weiss Ratings raised shares of Chord Energy from a “hold (c-)” rating to a “hold (c+)” rating in a report on Tuesday, August 11th. Finally, Truist Financial increased their price objective on shares of Chord Energy from $166.00 to $180.00 and gave the company a “buy” rating in a research report on Wednesday, September 16th.

Chord Energy Stock Down 2.5%

CHRD stock opened at $135.89 on Friday. Chord Energy has a twelve month low of $84.25 and a twelve month high of $157.06. 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 has a market cap of $7.43 billion, a PE ratio of 9.11 and a beta of 0.50. The business has a 50 day moving average of $140.90 and a 200 day moving average of $135.36.

Chord Energy (NASDAQ:CHRD) last announced its quarterly earnings results on Wednesday, August 5th. The company reported $6.44 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $6.55 by ($0.11). The firm had revenue of $2.17 billion during the quarter, compared to the consensus estimate of $1.62 billion. Chord Energy had a return on equity of 10.18% and a net margin of 13.42%.The business’s revenue for the quarter was up 128.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.79 EPS. On average, research analysts forecast that Chord Energy will post 20.5 EPS for the current fiscal year.

Chord Energy Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, September 4th. Stockholders of record on Thursday, August 20th were issued a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a dividend yield of 3.8%. The ex-dividend date of this dividend was Thursday, August 20th. Chord Energy’s dividend payout ratio is presently 34.85%.

Insider Buying and Selling

In other Chord Energy news, Director Samantha Mckinney sold 9,750 shares of the firm’s stock in a transaction dated Tuesday, September 1st. The stock was sold at an average price of $149.94, for a total value of $1,461,915.00. Following the transaction, the director directly owned 7,280 shares of the company’s stock, valued at approximately $1,091,563.20. This trade represents a 57.25% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Shannon Kinney sold 4,019 shares of the business’s stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $140.00, for a total value of $562,660.00. Following the sale, the executive vice president owned 13,560 shares of the company’s stock, valued at approximately $1,898,400. This represents a 22.86% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 23,969 shares of company stock valued at $3,389,599 over the last 90 days. Company insiders own 0.79% of the company’s stock.

Hedge Funds Weigh In On Chord Energy

A number of institutional investors and hedge funds have recently made changes to their positions in CHRD. Geode Capital Management LLC increased its holdings in Chord Energy by 15.6% during the fourth quarter. Geode Capital Management LLC now owns 2,053,045 shares of the company’s stock valued at $190,346,000 after buying an additional 277,588 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Chord Energy by 27.1% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,547,732 shares of the company’s stock worth $220,078,000 after acquiring an additional 329,565 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its stake in shares of Chord Energy by 1.0% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 734,416 shares of the company’s stock worth $100,586,000 after acquiring an additional 7,250 shares during the last quarter. Bank of New York Mellon Corp bought a new stake in shares of Chord Energy during the 2nd quarter valued at $66,489,000. Finally, First Trust Advisors LP grew its position in shares of Chord Energy by 98.2% during the 1st quarter. First Trust Advisors LP now owns 579,920 shares of the company’s stock valued at $82,453,000 after acquiring an additional 287,340 shares during the period. Hedge funds and other institutional investors own 97.76% of the company’s stock.

About Chord Energy

Chord Energy Corporation (NASDAQ: CHRD) is an independent exploration and production company focused on developing and producing oil, natural gas and natural gas liquids. Its operations are concentrated in the Williston Basin, primarily across the Bakken and Three Forks formations in North Dakota and Montana.

The company’s activities include acquiring acreage, drilling and completing wells, and managing the production and sale of hydrocarbons. Chord’s portfolio is weighted toward crude oil, with associated natural gas and natural gas liquids contributing to its production mix.

Chord Energy was formed through the 2022 combination of Oasis Petroleum and Whiting Petroleum, two companies with established operations in the Williston Basin.