Chord Energy (NASDAQ:CHRD) Earns “Buy” Rating from UBS Group

UBS Group reaffirmed their buy rating on shares of Chord Energy (NASDAQ:CHRD) in a research report sent to investors on Tuesday, MarketBeat reports. UBS Group currently has a $120.00 price target on the stock, up from their prior price target of $113.00.

CHRD has been the subject of a number of other reports. Piper Sandler increased their price target on Chord Energy from $159.00 to $164.00 and gave the company an “overweight” rating in a research report on Thursday, July 17th. Citigroup increased their price target on Chord Energy from $120.00 to $125.00 and gave the company a “buy” rating in a research report on Wednesday, July 9th. Mizuho lowered their price target on Chord Energy from $154.00 to $150.00 and set an “outperform” rating for the company in a research report on Tuesday, May 13th. Wall Street Zen lowered Chord Energy from a “hold” rating to a “sell” rating in a research report on Friday, July 18th. Finally, Bank of America lowered their price target on Chord Energy from $114.00 to $112.00 and set a “buy” rating for the company in a research report on Friday, May 23rd. Two research analysts have rated the stock with a sell rating, one has given a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $148.38.

Chord Energy Price Performance

Shares of CHRD opened at $100.05 on Tuesday. Chord Energy has a 12-month low of $79.83 and a 12-month high of $156.12. The business’s fifty day moving average is $103.82 and its 200 day moving average is $102.31. The company has a quick ratio of 0.90, a current ratio of 0.97 and a debt-to-equity ratio of 0.11. The stock has a market cap of $5.73 billion, a P/E ratio of 25.46 and a beta of 0.97.

Chord Energy (NASDAQ:CHRD) last issued its earnings results on Wednesday, August 6th. The company reported $1.79 earnings per share (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 firm had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $984.07 million. During the same quarter in the prior year, the business earned $4.69 earnings per share. Chord Energy’s revenue for the quarter was up 5.3% on a year-over-year basis. Sell-side analysts anticipate that Chord Energy will post 15.59 earnings per share for the current fiscal year.

Chord Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 8th. Stockholders of record on Thursday, August 21st will be given a dividend of $1.30 per share. The ex-dividend date of this dividend is Thursday, August 21st. This represents a $5.20 annualized dividend and a dividend yield of 5.2%. Chord Energy’s dividend payout ratio (DPR) is currently 132.32%.

Institutional Investors Weigh In On Chord Energy

Large investors have recently made changes to their positions in the business. Advisors Asset Management Inc. increased its holdings in Chord Energy by 36.4% in the 2nd quarter. Advisors Asset Management Inc. now owns 75,610 shares of the company’s stock worth $7,323,000 after acquiring an additional 20,161 shares during the last quarter. XTX Topco Ltd purchased a new stake in Chord Energy in the 2nd quarter worth about $2,254,000. Prudential Financial Inc. increased its holdings in Chord Energy by 3.5% in the 2nd quarter. Prudential Financial Inc. now owns 7,396 shares of the company’s stock worth $716,000 after acquiring an additional 253 shares during the last quarter. American Century Companies Inc. increased its holdings in Chord Energy by 15.5% in the 2nd quarter. American Century Companies Inc. now owns 1,337,079 shares of the company’s stock worth $129,496,000 after acquiring an additional 179,209 shares during the last quarter. Finally, Segall Bryant & Hamill LLC increased its holdings in Chord Energy by 6.2% in the 2nd quarter. Segall Bryant & Hamill LLC now owns 106,110 shares of the company’s stock worth $10,277,000 after acquiring an additional 6,155 shares during the last quarter. 97.76% of the stock is owned by hedge funds and other institutional investors.

Chord Energy Company Profile

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.