Analysts Set Chord Energy Co. (NASDAQ:CHRD) PT at $191.50

Chord Energy Co. (NASDAQ:CHRD) has been assigned an average recommendation of “Moderate Buy” from the nine analysts that are presently covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have given a buy rating to the company. The average 12-month price target among analysts that have covered the stock in the last year is $193.50.

Several research firms recently commented on CHRD. Piper Sandler increased their price objective on Chord Energy from $219.00 to $230.00 and gave the company an “overweight” rating in a research report on Friday, April 19th. Bank of America cut Chord Energy from a “buy” rating to an “underperform” rating and dropped their price objective for the company from $177.00 to $165.00 in a research report on Friday, January 5th. Truist Financial dropped their price objective on Chord Energy from $229.00 to $224.00 and set a “buy” rating on the stock in a research report on Friday, April 5th. Royal Bank of Canada increased their target price on Chord Energy from $180.00 to $200.00 and gave the company an “outperform” rating in a report on Monday. Finally, Mizuho raised their price objective on Chord Energy from $189.00 to $195.00 and gave the stock a “buy” rating in a research note on Thursday, March 14th.

Chord Energy Price Performance

Shares of Chord Energy stock opened at $176.98 on Friday. The company has a quick ratio of 1.16, a current ratio of 1.22 and a debt-to-equity ratio of 0.08. The company has a market cap of $7.35 billion, a PE ratio of 7.52 and a beta of 1.06. The business has a 50 day moving average of $173.66 and a 200 day moving average of $165.70. Chord Energy has a 52 week low of $133.34 and a 52 week high of $190.23.

Chord Energy (NASDAQ:CHRD) last issued its quarterly earnings results on Wednesday, February 21st. The company reported $5.25 earnings per share for the quarter, topping the consensus estimate of $5.04 by $0.21. Chord Energy had a return on equity of 16.35% and a net margin of 26.27%. The company had revenue of $964.69 million for the quarter, compared to analysts’ expectations of $891.67 million. As a group, equities research analysts forecast that Chord Energy will post 22.03 earnings per share for the current year.

Chord Energy Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 19th. Shareholders of record on Tuesday, March 5th were issued a dividend of $3.25 per share. This represents a $13.00 annualized dividend and a yield of 7.35%. The ex-dividend date of this dividend was Monday, March 4th. This is a boost from Chord Energy’s previous quarterly dividend of $1.25. Chord Energy’s dividend payout ratio (DPR) is currently 21.25%.

Insider Buying and Selling at Chord Energy

In other Chord Energy news, CFO Michael H. Lou sold 3,000 shares of the firm’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $165.00, for a total transaction of $495,000.00. Following the completion of the transaction, the chief financial officer now owns 128,209 shares in the company, valued at approximately $21,154,485. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.70% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Chord Energy

Several hedge funds have recently bought and sold shares of CHRD. Vanguard Group Inc. lifted its holdings in shares of Chord Energy by 0.5% in the 3rd quarter. Vanguard Group Inc. now owns 4,351,393 shares of the company’s stock worth $705,230,000 after buying an additional 21,034 shares during the period. FMR LLC lifted its stake in shares of Chord Energy by 12.9% during the 3rd quarter. FMR LLC now owns 3,185,243 shares of the company’s stock worth $516,232,000 after purchasing an additional 364,673 shares during the last quarter. Wellington Management Group LLP increased its position in Chord Energy by 1.0% during the 3rd quarter. Wellington Management Group LLP now owns 2,671,474 shares of the company’s stock valued at $432,966,000 after buying an additional 26,896 shares in the last quarter. First Trust Advisors LP increased its holdings in shares of Chord Energy by 11.0% in the fourth quarter. First Trust Advisors LP now owns 1,402,359 shares of the company’s stock valued at $233,114,000 after purchasing an additional 138,957 shares during the period. Finally, Jennison Associates LLC grew its holdings in Chord Energy by 0.4% during the third quarter. Jennison Associates LLC now owns 802,175 shares of the company’s stock worth $130,009,000 after acquiring an additional 2,837 shares during the period. Institutional investors own 97.76% of the company’s stock.

About Chord Energy

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.