Chord Energy Corporation (NASDAQ:CHRD) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Shares of Chord Energy Corporation (NASDAQ:CHRD) have been given a consensus rating of “Moderate Buy” by the fifteen brokerages that are presently covering the firm, Marketbeat.com reports. Five investment analysts have rated the stock with a hold recommendation, nine have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year target price among brokerages that have covered the stock in the last year is $141.8333.

A number of brokerages have recently issued reports on CHRD. Weiss Ratings raised shares of Chord Energy from a “sell (d+)” rating to a “hold (c-)” rating in a report on Tuesday, March 17th. Piper Sandler boosted their price objective on shares of Chord Energy from $158.00 to $190.00 and gave the company an “overweight” rating in a report on Thursday, March 12th. Citigroup lifted their target price on shares of Chord Energy from $120.00 to $155.00 and gave the stock a “neutral” rating in a research report on Tuesday. Mizuho set a $148.00 target price on shares of Chord Energy in a research note on Friday, January 9th. Finally, UBS Group increased their price target on Chord Energy from $119.00 to $142.00 and gave the company a “buy” rating in a report on Thursday, March 5th.

Chord Energy Trading Up 3.7%

Shares of NASDAQ:CHRD opened at $142.00 on Friday. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.06 and a quick ratio of 0.98. Chord Energy has a 1 year low of $79.83 and a 1 year high of $148.41. The company has a market cap of $8.05 billion, a P/E ratio of 225.40 and a beta of 0.66. The stock’s fifty day moving average price is $114.73 and its 200-day moving average price is $101.14.

Chord Energy (NASDAQ:CHRD) last released its quarterly earnings data on Wednesday, February 25th. The company reported $1.28 EPS for the quarter, topping the consensus estimate of $1.17 by $0.11. Chord Energy had a return on equity of 6.71% and a net margin of 0.91%.The company had revenue of $1.17 billion during the quarter, compared to the consensus estimate of $1.03 billion. During the same period last year, the company earned $3.49 EPS. Chord Energy’s revenue for the quarter was down 19.6% on a year-over-year basis. Sell-side analysts expect that Chord Energy will post 15.59 earnings per share for the current year.

Chord Energy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 27th. Shareholders of record on Thursday, March 12th were given a $1.30 dividend. This represents a $5.20 annualized dividend and a yield of 3.7%. The ex-dividend date of this dividend was Thursday, March 12th. Chord Energy’s dividend payout ratio (DPR) is presently 825.40%.

Insider Transactions at Chord Energy

In other news, CAO Lara J. Kroll sold 5,000 shares of the company’s stock in a transaction dated Tuesday, March 3rd. The shares were sold at an average price of $113.66, for a total transaction of $568,300.00. Following the completion of the sale, the chief accounting officer owned 8,921 shares of the company’s stock, valued at $1,013,960.86. This represents a 35.92% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Michael H. Lou sold 15,000 shares of the stock in a transaction that occurred on Thursday, March 12th. The stock was sold at an average price of $125.47, for a total transaction of $1,882,050.00. Following the completion of the transaction, the executive vice president owned 82,699 shares in the company, valued at $10,376,243.53. This trade represents a 15.35% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 23,927 shares of company stock valued at $2,912,028. 0.70% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of CHRD. Citigroup Inc. grew its holdings in Chord Energy by 31.1% during the third quarter. Citigroup Inc. now owns 111,590 shares of the company’s stock valued at $11,089,000 after purchasing an additional 26,499 shares during the period. Massachusetts Financial Services Co. MA bought a new position in shares of Chord Energy in the third quarter worth about $91,434,000. Wedge Capital Management L L P NC bought a new position in shares of Chord Energy in the third quarter worth about $13,092,000. AlphaQuest LLC lifted its position in shares of Chord Energy by 1,576.7% during the 3rd quarter. AlphaQuest LLC now owns 27,933 shares of the company’s stock valued at $2,776,000 after buying an additional 26,267 shares in the last quarter. Finally, Westwood Holdings Group Inc. lifted its position in shares of Chord Energy by 22.9% during the 2nd quarter. Westwood Holdings Group Inc. now owns 214,680 shares of the company’s stock valued at $20,792,000 after buying an additional 39,980 shares in the last quarter. Hedge funds and other institutional investors own 97.76% of the company’s stock.

Chord Energy Company Profile

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.