Chord Energy (NASDAQ:CHRD) Receives New Coverage from Analysts at UBS Group

UBS Group began coverage on shares of Chord Energy (NASDAQ:CHRD) in a report released on Wednesday, Marketbeat Ratings reports. The brokerage issued a buy rating and a $168.00 price target on the stock.

Several other equities research analysts have also recently weighed in on the company. Citigroup decreased their price target on Chord Energy from $195.00 to $180.00 and set a “buy” rating for the company in a research note on Monday, August 12th. Jefferies Financial Group started coverage on shares of Chord Energy in a research report on Thursday, September 5th. They set a “hold” rating and a $160.00 target price for the company. Wolfe Research began coverage on shares of Chord Energy in a report on Thursday, July 18th. They set a “peer perform” rating for the company. Wells Fargo & Company reduced their price objective on shares of Chord Energy from $200.00 to $185.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 1st. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $200.00 price objective on shares of Chord Energy in a research report on Friday, September 20th. Two analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat, Chord Energy currently has an average rating of “Moderate Buy” and an average price target of $190.18.

Chord Energy Trading Up 1.5 %

CHRD opened at $128.35 on Wednesday. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.96 and a quick ratio of 0.91. Chord Energy has a fifty-two week low of $126.38 and a fifty-two week high of $190.23. The company’s 50 day moving average price is $140.35 and its two-hundred day moving average price is $162.89. The firm has a market capitalization of $5.35 billion, a price-to-earnings ratio of 6.02, a PEG ratio of 4.92 and a beta of 0.97.

Chord Energy (NASDAQ:CHRD) last issued its quarterly earnings results on Wednesday, August 7th. The company reported $4.69 EPS for the quarter, missing analysts’ consensus estimates of $5.00 by ($0.31). The business had revenue of $902.70 million for the quarter, compared to analyst estimates of $982.43 million. Chord Energy had a return on equity of 15.06% and a net margin of 20.83%. Chord Energy’s revenue for the quarter was up 29.8% on a year-over-year basis. During the same quarter last year, the firm posted $3.65 EPS. As a group, research analysts predict that Chord Energy will post 17.93 earnings per share for the current year.

Chord Energy Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 5th. Shareholders of record on Wednesday, August 21st were paid a $1.25 dividend. This represents a $5.00 annualized dividend and a yield of 3.90%. The ex-dividend date of this dividend was Wednesday, August 21st. Chord Energy’s dividend payout ratio (DPR) is currently 23.46%.

Insider Activity

In other news, Director Samantha Holroyd bought 500 shares of Chord Energy stock in a transaction dated Friday, August 23rd. The stock was bought at an average cost of $149.51 per share, for a total transaction of $74,755.00. Following the purchase, the director now directly owns 14,417 shares in the company, valued at approximately $2,155,485.67. This represents a 0.00 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.70% of the company’s stock.

Hedge Funds Weigh In On Chord Energy

A number of large investors have recently modified their holdings of CHRD. Rise Advisors LLC acquired a new position in Chord Energy during the first quarter worth $31,000. Hexagon Capital Partners LLC raised its holdings in shares of Chord Energy by 462.9% in the 3rd quarter. Hexagon Capital Partners LLC now owns 197 shares of the company’s stock worth $26,000 after acquiring an additional 162 shares during the last quarter. UMB Bank n.a. lifted its position in Chord Energy by 77.7% in the 3rd quarter. UMB Bank n.a. now owns 231 shares of the company’s stock valued at $30,000 after acquiring an additional 101 shares in the last quarter. Ashton Thomas Private Wealth LLC acquired a new position in Chord Energy during the 2nd quarter valued at about $40,000. Finally, Benjamin F. Edwards & Company Inc. increased its holdings in Chord Energy by 125.9% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 244 shares of the company’s stock worth $41,000 after purchasing an additional 136 shares in the last quarter. 97.76% of the stock is currently owned by institutional investors.

About Chord Energy

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.