Chord Energy (NASDAQ:CHRD) Upgraded to Hold at Wall Street Zen

Wall Street Zen upgraded shares of Chord Energy (NASDAQ:CHRD) from a sell rating to a hold rating in a research note released on Saturday morning.

Several other research analysts have also recently issued reports on CHRD. Wells Fargo & Company reduced their target price on shares of Chord Energy from $149.00 to $108.00 and set an “overweight” rating for the company in a report on Friday. UBS Group raised their target price on shares of Chord Energy from $122.00 to $130.00 and gave the stock a “buy” rating in a report on Tuesday, September 16th. Scotiabank assumed coverage on shares of Chord Energy in a report on Friday, September 19th. They set a “sector perform” rating and a $120.00 target price for the company. Mizuho reduced their target price on shares of Chord Energy from $152.00 to $142.00 and set an “outperform” rating for the company in a report on Monday, September 15th. Finally, Bank of America raised their target price on shares of Chord Energy from $112.00 to $123.00 and gave the stock a “buy” rating in a report on Wednesday, September 17th. Ten research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, Chord Energy has an average rating of “Moderate Buy” and an average target price of $138.38.

Chord Energy Stock Up 0.7%

NASDAQ:CHRD opened at $89.74 on Friday. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.97 and a quick ratio of 0.90. The company’s fifty day moving average price is $101.79 and its 200-day moving average price is $99.43. Chord Energy has a 1-year low of $79.83 and a 1-year high of $136.38. The firm has a market capitalization of $5.14 billion, a P/E ratio of 22.83 and a beta of 0.94.

Chord Energy (NASDAQ:CHRD) last issued its earnings results on Wednesday, August 6th. The company reported $1.79 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.88 by ($0.09). Chord Energy had a return on equity of 9.02% and a net margin of 5.02%.The business had revenue of $1.18 billion for the quarter, compared to analysts’ expectations of $984.07 million. During the same period last year, the business earned $4.69 EPS. The company’s revenue for the quarter was up 5.3% on a year-over-year basis. As a group, equities research analysts anticipate that Chord Energy will post 15.59 EPS for the current year.

Chord Energy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, September 8th. Stockholders of record on Thursday, August 21st were given a $1.30 dividend. The ex-dividend date was Thursday, August 21st. This represents a $5.20 annualized dividend and a dividend yield of 5.8%. Chord Energy’s dividend payout ratio (DPR) is 132.32%.

Insider Activity

In other news, EVP Shannon Browning Kinney sold 3,019 shares of Chord Energy stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $105.43, for a total value of $318,293.17. Following the sale, the executive vice president owned 14,650 shares in the company, valued at $1,544,549.50. This trade represents a 17.09% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.70% of the stock is currently owned by company insiders.

Institutional Trading of Chord Energy

Institutional investors have recently modified their holdings of the stock. Geode Capital Management LLC lifted its stake in shares of Chord Energy by 1.0% in the second quarter. Geode Capital Management LLC now owns 1,890,420 shares of the company’s stock worth $183,112,000 after buying an additional 19,227 shares in the last quarter. American Century Companies Inc. lifted its stake in shares of Chord Energy by 15.5% in the second quarter. American Century Companies Inc. now owns 1,337,079 shares of the company’s stock worth $129,496,000 after buying an additional 179,209 shares in the last quarter. Sourcerock Group LLC lifted its stake in shares of Chord Energy by 2.1% in the second quarter. Sourcerock Group LLC now owns 1,031,973 shares of the company’s stock worth $99,947,000 after buying an additional 20,916 shares in the last quarter. Adage Capital Partners GP L.L.C. lifted its stake in shares of Chord Energy by 22.2% in the second quarter. Adage Capital Partners GP L.L.C. now owns 990,381 shares of the company’s stock worth $95,918,000 after buying an additional 180,000 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its stake in shares of Chord Energy by 4.1% in the second quarter. Allspring Global Investments Holdings LLC now owns 824,760 shares of the company’s stock worth $83,169,000 after buying an additional 32,802 shares in the last quarter. Institutional investors and hedge funds own 97.76% of the company’s stock.

Chord Energy Company Profile

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.