Royal Bank of Canada Reiterates Outperform Rating for Chord Energy (NASDAQ:CHRD)

Royal Bank of Canada reaffirmed their outperform rating on shares of Chord Energy (NASDAQ:CHRD) in a research report released on Friday, Benzinga reports. Royal Bank of Canada currently has a $200.00 price target on the stock.

A number of other equities analysts have also commented on CHRD. Bank of America boosted their price target on shares of Chord Energy from $201.00 to $208.00 and gave the company a buy rating in a research report on Wednesday, August 21st. Truist Financial decreased their price target on Chord Energy from $226.00 to $223.00 and set a buy rating on the stock in a research report on Monday, July 22nd. BMO Capital Markets started coverage on Chord Energy in a research report on Monday, June 3rd. They issued an outperform rating and a $230.00 price objective for the company. Wolfe Research began coverage on Chord Energy in a report on Thursday, July 18th. They set a peer perform rating on the stock. Finally, Piper Sandler cut their price target on Chord Energy from $234.00 to $206.00 and set an overweight rating for the company in a report on Thursday, August 15th. Two investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and a consensus target price of $202.10.

Chord Energy Stock Up 0.4 %

Shares of CHRD opened at $137.30 on Friday. The company has a quick ratio of 0.91, a current ratio of 0.96 and a debt-to-equity ratio of 0.11. The company has a 50-day moving average price of $152.03 and a two-hundred day moving average price of $167.03. The stock has a market cap of $5.72 billion, a price-to-earnings ratio of 6.44, a P/E/G ratio of 4.48 and a beta of 0.99. Chord Energy has a 12 month low of $129.75 and a 12 month high of $190.23.

Chord Energy (NASDAQ:CHRD) last announced its quarterly earnings results on Wednesday, August 7th. The company reported $4.69 EPS for the quarter, missing the consensus estimate of $5.00 by ($0.31). Chord Energy had a net margin of 20.83% and a return on equity of 15.06%. The company had revenue of $902.70 million during the quarter, compared to analyst estimates of $982.43 million. During the same period in the prior year, the firm earned $3.65 EPS. Chord Energy’s quarterly revenue was up 29.8% compared to the same quarter last year. Equities analysts predict that Chord Energy will post 19.67 EPS for the current fiscal year.

Chord Energy Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 5th. Stockholders of record on Wednesday, August 21st were paid a dividend of $1.25 per share. The ex-dividend date of this dividend was Wednesday, August 21st. This represents a $5.00 annualized dividend and a dividend yield of 3.64%. Chord Energy’s dividend payout ratio is currently 23.46%.

Insider Activity

In other Chord Energy news, Director Samantha Holroyd bought 500 shares of Chord Energy stock in a transaction that occurred on Friday, August 23rd. The stock was acquired at an average price of $149.51 per share, for a total transaction of $74,755.00. Following the completion of the acquisition, the director now owns 14,417 shares of the company’s stock, valued at approximately $2,155,485.67. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.70% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Chord Energy

Several large investors have recently made changes to their positions in the stock. Rise Advisors LLC bought a new stake in Chord Energy during the first quarter worth $31,000. Ashton Thomas Private Wealth LLC acquired a new stake in Chord Energy in the 2nd quarter valued at about $40,000. Benjamin F. Edwards & Company Inc. lifted its stake in Chord Energy by 125.9% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 244 shares of the company’s stock valued at $41,000 after purchasing an additional 136 shares during the last quarter. GAMMA Investing LLC grew its holdings in Chord Energy by 151.6% during the second quarter. GAMMA Investing LLC now owns 317 shares of the company’s stock worth $53,000 after purchasing an additional 191 shares during the period. Finally, Atlas Capital Advisors LLC acquired a new position in Chord Energy during the second quarter worth approximately $60,000. Institutional investors and hedge funds 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.