Chord Energy (NASDAQ:CHRD) Stock Rating Upgraded by Wolfe Research

Wolfe Research upgraded shares of Chord Energy (NASDAQ:CHRD) from a peer perform rating to an outperform rating in a report issued on Friday morning, MarketBeat Ratings reports. The brokerage currently has $155.00 target price on the stock.

Several other analysts have also commented on CHRD. UBS Group cut their price objective on Chord Energy from $168.00 to $161.00 and set a “buy” rating for the company in a report on Monday, December 9th. Siebert Williams Shank raised shares of Chord Energy to a “strong-buy” rating in a research report on Tuesday, October 15th. BMO Capital Markets lowered their price objective on shares of Chord Energy from $205.00 to $175.00 and set an “outperform” rating on the stock in a research note on Friday, October 4th. Royal Bank of Canada cut their target price on shares of Chord Energy from $185.00 to $180.00 and set an “outperform” rating for the company in a research report on Wednesday, November 20th. Finally, Piper Sandler decreased their price target on shares of Chord Energy from $212.00 to $194.00 and set an “overweight” rating on the stock in a research report on Tuesday, December 17th. One investment analyst has rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $180.25.

Chord Energy Price Performance

NASDAQ CHRD opened at $120.95 on Friday. Chord Energy has a one year low of $109.59 and a one year high of $190.23. The stock has a 50-day moving average of $122.86 and a 200 day moving average of $140.68. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.89 and a current ratio of 0.93. The company has a market capitalization of $7.39 billion, a price-to-earnings ratio of 6.23, a PEG ratio of 4.79 and a beta of 0.96.

Chord Energy (NASDAQ:CHRD) last announced its quarterly earnings results on Wednesday, November 6th. The company reported $3.40 EPS for the quarter, missing analysts’ consensus estimates of $3.63 by ($0.23). Chord Energy had a return on equity of 12.88% and a net margin of 19.74%. The company had revenue of $1.12 billion during the quarter, compared to the consensus estimate of $1.26 billion. During the same quarter in the prior year, the firm earned $5.04 earnings per share. The business’s revenue was up 33.4% compared to the same quarter last year. On average, sell-side analysts forecast that Chord Energy will post 16.5 EPS for the current year.

Chord Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Wednesday, November 27th were given a $1.25 dividend. The ex-dividend date was Wednesday, November 27th. This represents a $5.00 annualized dividend and a dividend yield of 4.13%. Chord Energy’s payout ratio is 25.75%.

Insider Transactions at Chord Energy

In other news, CAO Shannon Browning Kinney sold 1,000 shares of the business’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $116.35, for a total value of $116,350.00. Following the transaction, the chief accounting officer now owns 19,488 shares of the company’s stock, valued at approximately $2,267,428.80. The trade was a 4.88 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.70% of the company’s stock.

Institutional Trading of Chord Energy

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Victory Capital Management Inc. increased its holdings in shares of Chord Energy by 41.3% in the third quarter. Victory Capital Management Inc. now owns 2,245,435 shares of the company’s stock worth $292,423,000 after purchasing an additional 656,374 shares during the last quarter. Geode Capital Management LLC grew its holdings in Chord Energy by 3.0% during the 3rd quarter. Geode Capital Management LLC now owns 1,162,442 shares of the company’s stock valued at $151,077,000 after buying an additional 34,156 shares in the last quarter. Bank of Montreal Can increased its stake in Chord Energy by 956.5% in the 2nd quarter. Bank of Montreal Can now owns 58,359 shares of the company’s stock worth $9,873,000 after acquiring an additional 52,835 shares during the last quarter. Foundry Partners LLC raised its holdings in shares of Chord Energy by 22.7% during the 3rd quarter. Foundry Partners LLC now owns 52,009 shares of the company’s stock worth $6,773,000 after acquiring an additional 9,613 shares in the last quarter. Finally, Caxton Associates LP bought a new position in shares of Chord Energy during the 2nd quarter valued at approximately $2,515,000. 97.76% of the stock is currently owned by institutional investors.

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.