Chord Energy Corporation (NASDAQ:CHRD) Receives $138.31 Consensus PT from Brokerages

Chord Energy Corporation (NASDAQ:CHRD) has been given a consensus recommendation of “Moderate Buy” by the fourteen research firms that are presently covering the company, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $138.3077.

Several equities research analysts have issued reports on the company. UBS Group lowered their price target on Chord Energy from $130.00 to $123.00 and set a “buy” rating for the company in a report on Wednesday, November 12th. Roth Capital assumed coverage on Chord Energy in a research report on Monday, October 13th. They issued a “buy” rating and a $130.00 price objective for the company. Weiss Ratings reissued a “hold (c-)” rating on shares of Chord Energy in a research note on Wednesday, October 8th. Scotiabank began coverage on shares of Chord Energy in a research note on Friday, September 19th. They issued a “sector perform” rating and a $120.00 price target on the stock. Finally, Piper Sandler reduced their price target on shares of Chord Energy from $167.00 to $165.00 and set an “overweight” rating for the company in a report on Tuesday, November 18th.

Insider Activity at Chord Energy

In other news, Director Samantha Holroyd purchased 1,250 shares of the business’s stock in a transaction dated Friday, November 7th. The shares were bought at an average cost of $85.50 per share, for a total transaction of $106,875.00. Following the completion of the acquisition, the director directly owned 17,706 shares in the company, valued at approximately $1,513,863. This trade represents a 7.60% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.70% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Chord Energy

Institutional investors have recently bought and sold shares of the company. Russell Investments Group Ltd. boosted its position in Chord Energy by 25.5% during the 1st quarter. Russell Investments Group Ltd. now owns 11,194 shares of the company’s stock valued at $1,262,000 after acquiring an additional 2,271 shares in the last quarter. Cresset Asset Management LLC lifted its stake in shares of Chord Energy by 23.4% in the 1st quarter. Cresset Asset Management LLC now owns 2,612 shares of the company’s stock valued at $294,000 after purchasing an additional 495 shares during the period. Hsbc Holdings PLC boosted its position in shares of Chord Energy by 364.2% during the first quarter. Hsbc Holdings PLC now owns 35,795 shares of the company’s stock valued at $4,055,000 after purchasing an additional 28,084 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S grew its stake in Chord Energy by 79.2% in the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 1,032 shares of the company’s stock worth $116,000 after purchasing an additional 456 shares during the period. Finally, Martingale Asset Management L P bought a new position in Chord Energy in the first quarter worth $4,123,000. Institutional investors own 97.76% of the company’s stock.

Chord Energy Stock Up 0.1%

Shares of NASDAQ:CHRD opened at $90.91 on Friday. The company has a 50 day moving average price of $92.05 and a two-hundred day moving average price of $99.40. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.28 and a current ratio of 1.35. The company has a market capitalization of $5.17 billion, a PE ratio of 34.96 and a beta of 0.92. Chord Energy has a 52 week low of $79.83 and a 52 week high of $129.32.

Chord Energy (NASDAQ:CHRD) last announced its quarterly earnings results on Tuesday, November 4th. The company reported $2.35 earnings per share for the quarter, topping analysts’ consensus estimates of $2.24 by $0.11. Chord Energy had a net margin of 3.31% and a return on equity of 8.27%. The company had revenue of $1.31 billion for the quarter, compared to analysts’ expectations of $1.02 billion. During the same period last year, the firm posted $3.40 earnings per share. The business’s quarterly revenue was up 17.0% compared to the same quarter last year. Analysts forecast that Chord Energy will post 15.59 earnings per share for the current year.

Chord Energy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, December 5th. Shareholders of record on Wednesday, November 19th were issued a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a yield of 5.7%. The ex-dividend date was Wednesday, November 19th. Chord Energy’s dividend payout ratio is 200.00%.

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.