Analysts Set Chord Energy Co. (NASDAQ:CHRD) Price Target at $173.08

Chord Energy Co. (NASDAQ:CHRD) has been given a consensus rating of “Moderate Buy” by the fourteen ratings firms that are covering the firm, Marketbeat.com reports. Three investment analysts have rated the stock with a hold recommendation, ten have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $173.08.

A number of research analysts recently weighed in on CHRD shares. Piper Sandler reduced their price objective on shares of Chord Energy from $194.00 to $193.00 and set an “overweight” rating for the company in a research note on Wednesday, January 15th. Morgan Stanley assumed coverage on Chord Energy in a research note on Friday, January 10th. They set an “equal weight” rating and a $158.00 price objective on the stock. Bank of America reissued a “neutral” rating and set a $138.00 price objective (down previously from $208.00) on shares of Chord Energy in a report on Monday, January 13th. UBS Group reduced their target price on Chord Energy from $168.00 to $161.00 and set a “buy” rating for the company in a report on Monday, December 9th. Finally, Royal Bank of Canada lowered their price target on shares of Chord Energy from $185.00 to $180.00 and set an “outperform” rating on the stock in a report on Wednesday, November 20th.

Insider Activity at Chord Energy

In other Chord Energy news, CAO Shannon Browning Kinney sold 1,000 shares of the company’s stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $121.27, for a total value of $121,270.00. Following the completion of the sale, the chief accounting officer now owns 20,488 shares of the company’s stock, valued at $2,484,579.76. This represents a 4.65 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.70% of the stock is owned by insiders.

Institutional Investors Weigh In On Chord Energy

A number of hedge funds have recently made changes to their positions in CHRD. Delta Capital Management LLC raised its position in Chord Energy by 4.3% in the 4th quarter. Delta Capital Management LLC now owns 2,200 shares of the company’s stock worth $257,000 after purchasing an additional 90 shares during the period. GAMMA Investing LLC lifted its position in Chord Energy by 30.6% in the third quarter. GAMMA Investing LLC now owns 414 shares of the company’s stock valued at $54,000 after purchasing an additional 97 shares during the last quarter. Commerce Bank boosted its stake in shares of Chord Energy by 4.3% during the third quarter. Commerce Bank now owns 2,361 shares of the company’s stock valued at $307,000 after purchasing an additional 98 shares during the period. New York State Teachers Retirement System grew its holdings in shares of Chord Energy by 0.4% in the third quarter. New York State Teachers Retirement System now owns 27,274 shares of the company’s stock worth $3,552,000 after purchasing an additional 100 shares during the last quarter. Finally, UMB Bank n.a. grew its holdings in shares of Chord Energy by 77.7% in the third quarter. UMB Bank n.a. now owns 231 shares of the company’s stock worth $30,000 after purchasing an additional 101 shares during the last quarter. 97.76% of the stock is currently owned by institutional investors.

Chord Energy Stock Performance

Shares of CHRD opened at $110.97 on Tuesday. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.93 and a quick ratio of 0.89. The firm has a market cap of $6.78 billion, a PE ratio of 5.71, a PEG ratio of 5.67 and a beta of 0.98. Chord Energy has a 1 year low of $109.44 and a 1 year high of $190.23. The stock’s fifty day moving average price is $119.62 and its two-hundred day moving average price is $133.21.

Chord Energy (NASDAQ:CHRD) last released its quarterly earnings data on Wednesday, November 6th. The company reported $3.40 EPS for the quarter, missing the consensus estimate of $3.63 by ($0.23). The business had revenue of $1.12 billion for the quarter, compared to analysts’ expectations of $1.26 billion. Chord Energy had a net margin of 19.74% and a return on equity of 12.88%. Chord Energy’s revenue for the quarter was up 33.4% compared to the same quarter last year. During the same period last year, the company earned $5.04 earnings per share. On average, equities research analysts forecast that Chord Energy will post 15.59 EPS for the current year.

Chord Energy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Wednesday, November 27th were given a $1.25 dividend. The ex-dividend date of this dividend was Wednesday, November 27th. This represents a $5.00 annualized dividend and a yield of 4.51%. Chord Energy’s dividend payout ratio (DPR) is presently 25.75%.

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.