Chord Energy (NASDAQ:CHRD) Stock Rating Raised to Strong-Buy at Zacks Research

Zacks Research upgraded shares of Chord Energy (NASDAQ:CHRD) from a hold rating to a strong-buy rating in a research report released on Tuesday morning,Zacks reports.

CHRD has been the subject of several other reports. Citigroup increased their price objective on shares of Chord Energy from $130.00 to $150.00 and gave the company a “neutral” rating in a report on Thursday, September 17th. Morgan Stanley boosted their target price on Chord Energy from $169.00 to $178.00 and gave the stock an “overweight” rating in a report on Thursday, October 15th. Seaport Research Partners started coverage on Chord Energy in a research report on Thursday, September 3rd. They issued a “neutral” rating for the company. Scotiabank assumed coverage on Chord Energy in a research note on Wednesday, October 14th. They set a “sector outperform” rating and a $192.00 price target for the company. Finally, Wall Street Zen raised Chord Energy from a “buy” rating to a “strong-buy” rating in a research note on Saturday, October 10th. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $174.54.

Chord Energy Stock Performance

Shares of CHRD opened at $150.85 on Tuesday. The firm has a 50-day moving average price of $144.33 and a 200 day moving average price of $136.93. The firm has a market capitalization of $8.25 billion, a PE ratio of 10.11 and a beta of 0.59. The company has a quick ratio of 1.15, a current ratio of 1.22 and a debt-to-equity ratio of 0.18. Chord Energy has a 52-week low of $84.25 and a 52-week high of $157.06.

Chord Energy (NASDAQ:CHRD) last released its earnings results on Wednesday, August 5th. The company reported $6.44 EPS for the quarter, missing the consensus estimate of $6.55 by ($0.11). Chord Energy had a net margin of 13.42% and a return on equity of 10.18%. The company had revenue of $2.17 billion for the quarter, compared to analyst estimates of $1.62 billion. During the same period in the previous year, the business posted $1.79 EPS. The firm’s quarterly revenue was up 128.6% on a year-over-year basis. On average, sell-side analysts anticipate that Chord Energy will post 22.27 earnings per share for the current fiscal year.

Chord Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 4th. Stockholders of record on Thursday, August 20th were paid a $1.30 dividend. The ex-dividend date of this dividend was Thursday, August 20th. This represents a $5.20 annualized dividend and a dividend yield of 3.4%. Chord Energy’s payout ratio is currently 34.85%.

Insider Transactions at Chord Energy

In other Chord Energy news, Director Douglas E. Brooks sold 8,000 shares of Chord Energy stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $133.14, for a total value of $1,065,120.00. Following the transaction, the director owned 10,705 shares in the company, valued at approximately $1,425,263.70. The trade was a 42.77% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Shannon Kinney sold 4,019 shares of Chord Energy stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $140.00, for a total transaction of $562,660.00. Following the completion of the transaction, the executive vice president owned 13,560 shares in the company, valued at approximately $1,898,400. This trade represents a 22.86% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 23,969 shares of company stock valued at $3,389,599 in the last quarter. Insiders own 0.79% of the company’s stock.

Institutional Investors Weigh In On Chord Energy

Institutional investors and hedge funds have recently modified their holdings of the stock. Dimensional Fund Advisors LP grew its holdings in shares of Chord Energy by 27.1% in 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 lifted its holdings in shares of Chord Energy by 1.0% during the first quarter. Allspring Global Investments Holdings LLC now owns 734,416 shares of the company’s stock valued at $100,586,000 after purchasing an additional 7,250 shares during the last quarter. First Trust Advisors LP lifted its holdings in shares of Chord Energy by 98.2% during the first quarter. First Trust Advisors LP now owns 579,920 shares of the company’s stock valued at $82,453,000 after purchasing an additional 287,340 shares during the last quarter. Bank of New York Mellon Corp purchased a new stake in shares of Chord Energy during the second quarter valued at $66,489,000. Finally, Arrowstreet Capital Limited Partnership boosted its position in shares of Chord Energy by 178.6% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 424,841 shares of the company’s stock valued at $60,404,000 after purchasing an additional 272,349 shares during the period. Institutional investors and hedge funds own 97.76% of the company’s stock.

More Chord Energy News

Here are the key news stories impacting Chord Energy this week:

• Positive Sentiment: UBS raised its price target to $197 from $193 and maintained a Buy rating, implying substantial potential upside based on the referenced market price. The target increase is a direct positive catalyst for CHRD. Chord Energy price target raised by UBS
• Positive Sentiment: Zacks cited favorable earnings-estimate revisions as evidence that Chord Energy may continue its recent upward momentum, potentially improving expectations ahead of its next results. Why Chord Energy Might Be Well Poised for a Surge
• Positive Sentiment: CHRD was added to several Zacks Rank #1 Strong Buy lists on October 21, including growth, value, income and momentum screens. The repeated inclusion highlights favorable quantitative characteristics across multiple investment styles. New Strong Buy Stocks for October 21
• Neutral Sentiment: Commentary also describes Chord Energy as a growth, value and momentum candidate, while a separate article discusses whether the company is undervalued under new CEO Michael Lou. These are supportive themes but largely reiterate existing investment factors rather than announce new operating developments. Is Chord Energy Undervalued as New CEO Takes Charge?
• Neutral Sentiment: Investors are approaching an earnings catalyst. Chord Energy’s prior quarter included strong revenue growth but a slight EPS miss, so future results and guidance could determine whether the recent bullish estimates are validated. Strong Buy Growth Stocks Before Earnings

Chord Energy Company Profile

Chord Energy Corporation is an independent exploration and production company focused on the development and operation of oil and natural gas properties in the United States. Its portfolio is concentrated in the Williston Basin, which spans parts of North Dakota and Montana. The company’s production mix includes crude oil, natural gas and natural gas liquids.

Chord’s operations include acquiring, developing and producing hydrocarbons from operated and non-operated wells, with an emphasis on drilling and completion activities in the Bakken and Three Forks formations.