Chord Energy Co. (NASDAQ:CHRD) Receives $173.08 Average PT from Analysts

Chord Energy Co. (NASDAQ:CHRD) has received a consensus rating of “Moderate Buy” from the fourteen research firms that are presently covering the company, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $173.08.

CHRD has been the topic of several research reports. Piper Sandler dropped their price objective on shares of Chord Energy from $194.00 to $193.00 and set an “overweight” rating on the stock in a report on Wednesday, January 15th. Truist Financial upped their target price on shares of Chord Energy from $185.00 to $186.00 and gave the company a “buy” rating in a research note on Monday, January 13th. Wells Fargo & Company lowered their target price on shares of Chord Energy from $176.00 to $175.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 15th. Royal Bank of Canada lowered their target price on shares of Chord Energy from $185.00 to $180.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 20th. Finally, Bank of America reissued a “neutral” rating and issued a $138.00 target price (down previously from $208.00) on shares of Chord Energy in a research note on Monday, January 13th.

Insider Buying and Selling at Chord Energy

In other news, CAO Shannon Browning Kinney sold 1,000 shares of the company’s stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $116.35, for a total transaction of $116,350.00. Following the transaction, the chief accounting officer now directly owns 19,488 shares in the company, valued at approximately $2,267,428.80. This represents a 4.88 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.70% of the company’s stock.

Hedge Funds Weigh In On Chord Energy

A number of large investors have recently modified their holdings of the stock. Ascent Group LLC lifted its position in shares of Chord Energy by 11.1% during the fourth quarter. Ascent Group LLC now owns 17,300 shares of the company’s stock worth $2,023,000 after purchasing an additional 1,731 shares in the last quarter. GF Fund Management CO. LTD. acquired a new position in shares of Chord Energy during the fourth quarter worth approximately $2,197,000. GTS Securities LLC acquired a new position in shares of Chord Energy during the fourth quarter worth approximately $1,183,000. CSS LLC IL lifted its position in shares of Chord Energy by 30.9% during the fourth quarter. CSS LLC IL now owns 21,157 shares of the company’s stock worth $2,474,000 after purchasing an additional 4,994 shares in the last quarter. Finally, Worldquant Millennium Advisors LLC acquired a new position in Chord Energy in the fourth quarter valued at approximately $11,534,000. 97.76% of the stock is currently owned by institutional investors and hedge funds.

Chord Energy Stock Performance

NASDAQ:CHRD opened at $111.33 on Friday. The firm’s 50-day moving average is $116.40 and its 200-day moving average is $127.55. Chord Energy has a 52-week low of $107.24 and a 52-week high of $190.23. 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 cap of $6.81 billion, a price-to-earnings ratio of 5.73, a PEG ratio of 5.83 and a beta of 0.98.

Chord Energy Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Wednesday, November 27th were given a $1.25 dividend. The ex-dividend date of this dividend was Wednesday, November 27th. This represents a $5.00 dividend on an annualized basis and a yield of 4.49%. Chord Energy’s dividend payout ratio (DPR) is presently 25.75%.

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.