Chord Energy Co. (NASDAQ:CHRD) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of Chord Energy Co. (NASDAQ:CHRD) have received an average recommendation of “Moderate Buy” from the thirteen analysts that are presently covering the company, MarketBeat.com reports. Three analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $169.92.

CHRD has been the topic of several analyst reports. Truist Financial lifted their target price on shares of Chord Energy from $185.00 to $186.00 and gave the company a “buy” rating in a report on Monday, January 13th. Bank of America reiterated a “neutral” rating and set a $138.00 target price (down previously from $208.00) on shares of Chord Energy in a research report on Monday, January 13th. Royal Bank of Canada reduced their price target on Chord Energy from $185.00 to $180.00 and set an “outperform” rating for the company in a report on Wednesday, November 20th. UBS Group dropped their price objective on Chord Energy from $168.00 to $161.00 and set a “buy” rating on the stock in a report on Monday, December 9th. Finally, Piper Sandler cut their price objective on Chord Energy from $194.00 to $193.00 and set an “overweight” rating for the company in a research report on Wednesday, January 15th.

Insiders Place Their Bets

In related news, CAO Shannon Browning Kinney sold 1,000 shares of the company’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $116.35, for a total value of $116,350.00. Following the completion of 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 transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.70% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Victory Capital Management Inc. increased its position in Chord Energy by 41.3% during 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. Merit Financial Group LLC acquired a new stake in shares of Chord Energy during the 4th quarter worth $553,000. Geode Capital Management LLC raised its position in shares of Chord Energy by 3.0% in the 3rd quarter. Geode Capital Management LLC now owns 1,162,442 shares of the company’s stock worth $151,077,000 after buying an additional 34,156 shares during the period. Kingsview Wealth Management LLC boosted its holdings in Chord Energy by 55.3% in the fourth quarter. Kingsview Wealth Management LLC now owns 21,744 shares of the company’s stock valued at $2,542,000 after acquiring an additional 7,743 shares during the last quarter. Finally, Arkfeld Wealth Strategies L.L.C. boosted its holdings in Chord Energy by 3.5% in the fourth quarter. Arkfeld Wealth Strategies L.L.C. now owns 92,211 shares of the company’s stock valued at $11,596,000 after acquiring an additional 3,151 shares during the last quarter. 97.76% of the stock is currently owned by hedge funds and other institutional investors.

Chord Energy Stock Performance

NASDAQ:CHRD opened at $113.30 on Friday. The firm has a market cap of $6.93 billion, a price-to-earnings ratio of 5.83, a price-to-earnings-growth ratio of 5.83 and a beta of 0.98. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.93 and a quick ratio of 0.89. Chord Energy has a 1-year low of $107.24 and a 1-year high of $190.23. The firm’s fifty day moving average price is $116.30 and its 200 day moving average price is $127.15.

Chord Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 26th. Investors of record on Tuesday, March 11th will be given a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a yield of 4.59%. The ex-dividend date is Tuesday, March 11th. This is a boost from Chord Energy’s previous quarterly dividend of $1.25. Chord Energy’s dividend payout ratio (DPR) is currently 31.37%.

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.