Brokerages Set Chord Energy Corporation (NASDAQ:CHRD) Target Price at $138.38

by · The Markets Daily

Chord Energy Corporation (NASDAQ:CHRD – Get Free Report) has received an average rating of “Moderate Buy” from the thirteen ratings firms that are presently covering the company, MarketBeat Ratings reports. Three analysts have rated the stock with a hold recommendation and ten have given a buy recommendation to the company. The average 12-month price objective among analysts that have covered the stock in the last year is $138.3846.

Several research firms recently issued reports on CHRD. Wall Street Zen lowered shares of Chord Energy from a “hold” rating to a “sell” rating in a report on Saturday. UBS Group increased their price objective on shares of Chord Energy from $122.00 to $130.00 and gave the stock a “buy” rating in a research note on Tuesday, September 16th. Roth Capital started coverage on shares of Chord Energy in a research report on Monday, October 13th. They set a “buy” rating and a $130.00 price objective on the stock. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Chord Energy in a report on Wednesday, October 8th. Finally, Citigroup increased their price target on Chord Energy from $120.00 to $125.00 and gave the stock a “buy” rating in a research note on Wednesday, July 9th.

Check Out Our Latest Stock Analysis on CHRD

Chord Energy Price Performance

Shares of Chord Energy stock opened at $90.72 on Thursday. The stock has a market cap of $5.19 billion, a P/E ratio of 23.08 and a beta of 0.94. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.90 and a current ratio of 0.97. The stock’s fifty day moving average is $99.58 and its 200 day moving average is $99.64. Chord Energy has a one year low of $79.83 and a one year high of $136.38.

Chord Energy (NASDAQ:CHRD – Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The company reported $1.79 EPS for the quarter, missing analysts’ consensus estimates of $1.88 by ($0.09). Chord Energy had a return on equity of 9.02% and a net margin of 5.02%.The company had revenue of $1.18 billion during the quarter, compared to analysts’ expectations of $984.07 million. During the same quarter in the previous year, the company earned $4.69 EPS. The business’s quarterly revenue was up 5.3% compared to the same quarter last year. Sell-side analysts anticipate that Chord Energy will post 15.59 earnings per share for the current year.

Chord Energy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 8th. Investors of record on Thursday, August 21st were given a dividend of $1.30 per share. The ex-dividend date was Thursday, August 21st. This represents a $5.20 annualized dividend and a dividend yield of 5.7%. Chord Energy’s dividend payout ratio (DPR) is currently 132.32%.

Insider Buying and Selling

In other Chord Energy news, EVP Shannon Browning Kinney sold 3,019 shares of the company’s stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $105.43, for a total value of $318,293.17. Following the completion of the transaction, the executive vice president directly owned 14,650 shares in the company, valued at $1,544,549.50. This represents a 17.09% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 0.70% of the company’s stock.

Institutional Investors Weigh In On Chord Energy

Several institutional investors and hedge funds have recently modified their holdings of CHRD. Bayforest Capital Ltd purchased a new position in Chord Energy during the second quarter valued at $28,000. WealthCollab LLC grew its position in shares of Chord Energy by 90.6% during the second quarter. WealthCollab LLC now owns 305 shares of the company’s stock valued at $30,000 after purchasing an additional 145 shares in the last quarter. Quent Capital LLC purchased a new position in shares of Chord Energy during the third quarter valued at about $32,000. Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in shares of Chord Energy by 91.2% in the second quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 411 shares of the company’s stock worth $40,000 after purchasing an additional 196 shares during the last quarter. Finally, Hexagon Capital Partners LLC lifted its position in shares of Chord Energy by 321.7% in the first quarter. Hexagon Capital Partners LLC now owns 447 shares of the company’s stock worth $50,000 after buying an additional 341 shares in the last quarter. Institutional investors own 97.76% of the company’s stock.

About Chord Energy

(Get Free Report)

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.

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